The housing market in Peoria, IL (zipcode 61602) is very strong. The median value for all homes in the area is $195,700, which is much lower than the US median value of $338,100. Over the past year, the appreciation rate of homes in Peoria has been 11.29%, much higher than the US average of 8.27%. With such a high appreciation rate and an already low median home price, it's no wonder that many people are enticed to invest in housing in this area!
The median home cost in Peoria (zip 61602) is $195,700. Home appreciation the last 10 years has been 25.3%. Home Appreciation in Peoria (zip 61602) is up 13.3%.
Average Age of Homes
- The median age of Peoria (zip 61602) real estate is 66 years old
The Rental Market in Peoria (zip 61602)
- Renters make up 71.2% of the Peoria (zip 61602) population
- 10.0% of houses and apartments in Peoria (zip 61602), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.