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Sarah Mitchell
Compass Real Estate · ZIP 61603
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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61603 ZIP Code Housing Market
$69,500median sale price
What is the 61603 housing market like right now?
The median home sale price in ZIP code 61603 is $69,500, up 26.4% year-over-year. Homes sell in an average of 34 days with 54 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 61603 ZIP code a buyer's or seller's market?
ZIP code 61603 is currently a leaning buyer's and homes selling in about 34 days. How we determine this →
What are the latest 61603 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $69,500 |
| Median list price | $69,900 |
| Year-over-year price change | +26.4% |
| Average days on market | 34 days |
| Active inventory | 54 listings |
| Sale-to-list price ratio | 94.7% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
The 61603 zip code, located in Peoria Heights, IL, is currently classified as a leaning buyer's. The median sale price stands at $69,500, representing a +26.4% change year over year. Homes in this area spend an average of 34 days on the market before going under contract. There are currently 54 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 61603 sits in the Peoria Heights, IL area, roughly 2.6 miles from downtown Peoria Heights. Because home prices are set street by street, this ZIP can move differently from Peoria Heights's citywide averages. The figures below reflect 61603 specifically — drawn from Redfin transactions, U.S. Census data for its 15,356 residents, and Zillow value estimates.
Homes sold
62
Last 12 weeks
Days on market
34
Average pace
Active listings
54
Sale-to-list
94.7%
Below asking
What is driving the 61603 housing market?
The 61603 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 94.7% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 61603 have increased +26.4% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 61603 stands at $65,911, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,184 per month. This gives a price-to-rent ratio of approximately 4.6, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 61603?
Population
15,356
Median income
$41,618/yr
Median age
34.1 years
Owner-occupied
52.9%
College grads
14.7%
Avg commute
15.25 min
What is it like living in 61603?
Zip code 61603 is home to approximately 15,356 residents. The median household income is $41,618 per year, which shapes the types of homes and amenities available in the area. With a median age of 34.1 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 52.9% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 14.7% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 15.25 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 61603.
Which public schools serve ZIP 61603?
6 schools tracked · 1,634 students
The largest public schools serving ZIP code 61603 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.
Lincoln School
Grades K-8 · 757 students
Glen Oak Comm Learning Cntr
Grades K-8 · 637 students
Von Steuben Middle School
Grades 5-8 · 240 students
Greeley Alternative School
Grades 6-12
Woodruff Career & Tech Center
Grades 9-12
Online Learning Academy
Grades K-12
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 61603
What is the median home price in 61603?
The current median sale price in 61603 is $69,500, based on recent Redfin transaction data. Prices have changed +26.4% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 61603 a buyer's or seller's market?
The 61603 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 61603?
Zip code 61603 has a population of approximately 15,356 residents. The median household income is $41,618 per year. About 52.9% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 61603?
Properties Incorporated provides comprehensive data for 61603 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 61603 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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