New Listing
$26,900
2702 NE Madison Ave
Peoria, IL 61603
2 bd1 ba1,154 sqft$23/ft²
House3,920 sqft lot
Adam Merrick · Adam Merrick Real Estate
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Peoria, IL Housing Market
Seller's market+6.4% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Peoria, IL is worth $138,052, rose 6.4% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $173,700, +5.3% year over year (through May 2026). With 1.7 months of supply and homes going under contract in about 15 days, Peoria is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $138,052 home is about $737/mo in principal and interest.
Key numbers for Peoria, IL
Typical home value
$138,052
+6.4% in 12 months
Zillow, August 2026
Typical asking rent
$1,266/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$173,700
+5.3% year over year
Redfin, through May 2026
Days on market
15
Fast-moving
Redfin, through May 2026
Active listings
251
1.7 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$58,716
Home costs 2.4x income
U.S. Census ACS, 2023
Sale-to-list ratio
99.8%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Peoria a buyer's or seller's market?
Seller's market1.7 months of supply15 days on market99.8% of asking
Peoria, IL is a seller's market, based on 1.7 months of supply and homes selling in about 15 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Peoria housing market data show?
Every row below is Redfin's final published month for Peoria, IL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $173,700 |
| Median list price | $185,000 |
| Year-over-year price change | +5.3% |
| Median price per sq ft | $105/sq ft |
| Median days on market | 15 days |
| Active inventory | 251 listings |
| Months of supply | 1.7 months |
| Sale-to-list price ratio | 99.8% |
| Homes sold (that month) | 151 |
| New listings (that month) | 202 |
| Listings with a price cut | 27.9% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Peoria is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Peoria is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Peoria home prices moved?
Over the last three years the median sale price in Peoria, IL rose 24.1%, from $140,000 to $173,700. The live Zillow value series has rose 6.4% in the last 12 months, which is the more current read now that Redfin's series has stopped. 27.9% of Peoria listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 1.7 months while the sale-to-list ratio slips below its current 99.8%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Peoria?
Priced off the typical home value of $138,052 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $27,610 | $110,442 | $737/mo |
| 5% | $6,903 | $131,150 | $875/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $737, that implies roughly $31,586 a year before you add taxes and insurance. The median household in Peoria earns $58,716, about $27,130 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 2.4x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Peoria in the next 12 months?
Tell us your timeline. We send the Peoria market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Peoria?
Typical asking rent in Peoria, IL is $1,266/mo, against a typical home value of $138,052. That is a price-to-rent ratio of 9.1x, which means buying tends to beat renting on monthly cost over a typical hold. Compared head to head, 20% down puts principal and interest at $737 a month — $529 less than renting before taxes and insurance, so ownership can win on monthly cost alone once you have the down payment.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Peoria?
Active listings in Peoria, IL went from 237 in May 2025 to 251 in May 2026, a +5.9% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 268 | 209 |
| July 2025 | 285 | 212 |
| August 2025 | 275 | 172 |
| September 2025 | 289 | 156 |
| October 2025 | 333 | 222 |
| November 2025 | 359 | 167 |
| December 2025 | 324 | 108 |
| January 2026 | 275 | 105 |
| February 2026 | 260 | 128 |
| March 2026 | 231 | 158 |
| April 2026 | 237 | 187 |
| May 2026 | 251 | 202 |
Redfin, through May 2026
How does Peoria compare to Illinois and the U.S.?
Peoria homes sell for $173,700 — 49% below the Illinois median of $337,900. Against the national median of $410,700, Peoria runs 58% lower. Year-over-year, Peoria moved +5.3% against Illinois's +5.9% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Peoria, IL | $173,700 | +5.3% | 15 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Peoria
What buyers should watch
- Months of supply, currently 1.7. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 27.9%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $138 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $138,052 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Peoria listing goes under contract in 15 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 99.8% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Peoria added 202 new listings against 151 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +6.4% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Peoria varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Peoria
There are currently 251 homes listed for sale in Peoria, Illinois. The median listing price is $185K. Featured listings range from $26,900 to $274,900.
New Listing
$29,900
2514 NE Monroe St
Peoria, IL 61603
2 bd1 ba714 sqft$42/ft²
House6,098 sqft lot
Adam Merrick · Adam Merrick Real Estate
View photos & details
New Listing
$34,900
1501 NE Madison Ave
Peoria, IL 61603
3 bd2 ba1,576 sqft$22/ft²
House3,049 sqft lot
Adam Merrick · Adam Merrick Real Estate
View photos & details
New Listing
$35,000
3300 NE Madison Ave
Peoria, IL 61603
2 bd1 ba660 sqft$53/ft²
House3,920 sqft lot
Adam Merrick · Adam Merrick Real Estate
View photos & details
New Listing
$44,900
3223 N Wisconsin Ave
Peoria, IL 61603
4 bd2 ba1,447 sqft$31/ft²
House7,841 sqft lot
Adam Merrick · Adam Merrick Real Estate
View photos & details
New Listing
$49,900
3309 N Stanley St
Peoria, IL 61604
3 bd1 ba960 sqft$52/ft²
House6,534 sqft lot
Adam Merrick · Adam Merrick Real Estate
View photos & details
New Listing
16
$59,000
804 NE Monroe St
Peoria, IL 61603
4 bd1 ba1,446 sqft$41/ft²
House
Hannah Maloney · S & S Property Management
View photos & details
New Listing
27
$134,999
3510 N Elmcroft Ter
Peoria, IL 61604
3 bd1 ba1,092 sqft$124/ft²
House
Joshua Abraham · eXp Realty
View photos & details
New Listing
$155,000
3510 N Kingston Dr Apt 27
Peoria, IL 61604
2 bd3 ba2,168 sqft$71/ft²
House1,742 sqft lot
Mya Porter · eXp Realty
View photos & details
New Listing
2
$229,900
4800 W Middle Rd
Peoria, IL 61605
4 bd2 ba2,444 sqft$94/ft²
House30,056 sqft lot
Sandy Salvati · eXp Realty
View photos & details
New Listing
47
$244,900
5006 N Edgebrook Dr
Peoria, IL 61614
4 bd2 ba2,116 sqft$116/ft²
House8,276 sqft lot
Adam Merrick · Adam Merrick Real Estate
View photos & details
New Listing
46
$274,900
8109 S McCumber Rd
Peoria, IL 61607
3 bd1 ba1,938 sqft$142/ft²
House1.89 acres
Ryan Tucker · Keller Williams Revolution
View photos & details
Looking to buy in Peoria?
Get connected with a local real estate expert — free, no obligation.
Active listings
251
Homes on market
Median list price
$185K
Avg. days on market
15
Days until sale
New this week
202
Newly listed
Price drops:27.9%of listings
Sale-to-list:99.8%
How much do homes cost in Peoria by property type?
How the Peoria, IL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $180,000 | $105/sq ft | 128 | 13 days |
| Condo / co-op | $150,000 | $114/sq ft | 19 | 11 days |
Who lives in Peoria?
American Community Survey estimates for Peoria. U.S. Census ACS, 2023
Population
112,126
Households
48,950
Median income
$58,716/yr
Median age
35.8 years
Owner-occupied
58.2%
Median home value
$149,500
Median gross rent
$951/mo
Mean commute
17.6 min
58.2% of occupied homes in Peoria are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $149,500 against Zillow's $138,052 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $951/mo, below Zillow's $1,266/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Peoria?
47 schools tracked · 15,403 students
The largest public schools serving Peoria, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Richwoods High School
Grades 9-12 · 1,576 students
Peoria High School
Grades 9-12 · 1,483 students
Limestone Community High School
Grades 9-12 · 921 students
Lincoln School
Grades K-8 · 757 students
Manual High School
Grades 9-12 · 713 students
Glen Oak Comm Learning Cntr
Grades K-8 · 637 students
The Elise Ford Allen Academy
Grades K-8 · 624 students
Annie Jo Gordon Comm Lrning Cntr
Grades K-8 · 592 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Peoria, IL?
Ordered by distance from Peoria, not by size. Compare Peoria side by side with any of them.
Which ZIP codes are in Peoria?
These are the ZIP codes we see on active Peoria listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Peoria housing market FAQ
Is Peoria a buyer's or seller's market?
Peoria, IL is currently a seller's market. That read comes from 1.7 months of supply, homes going under contract in about 15 days, and sellers getting 99.8% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Peoria?
The typical home in Peoria, IL is worth $138,052 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $173,700, about $105 per square foot.
Is Peoria cheaper than the rest of Illinois?
Peoria's median sale price of $173,700 is 49% lower than the Illinois statewide median of $337,900, and 58% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Peoria?
Homes in Peoria, IL spent a median of 15 days on market before going under contract, versus 43 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Peoria?
At the current 30-year fixed rate of 7.03%, 20% down on a $138,052 home is about $737 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $31,586 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $58,716.
Are home prices rising in Peoria?
The typical home value in Peoria, IL rose 6.4% over the last 12 months, from $129,776 to $138,052 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Peoria?
Peoria ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Peoria?
That depends on your timeline, not on a headline. What the data says today: Peoria, IL is a seller's market with 1.7 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 9.1x means buying tends to beat renting on monthly cost over a typical hold. Properties Incorporated publishes the data; it does not give financial advice.
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