Market Intelligence · IL / Peoria

Peoria, IL 61602 Housing Market

In Peoria's 61602 ZIP code, the typical home value is $119,152, down 16.4% over the past year. The median list price sits at $154,700, and homes are taking a median of 161 days on market.

Updated June 2026Median value$119K

The median home value in Peoria, IL 61602 is $119K as of June 2026, down 16.4% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 61602 range

$110K to $129K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-16.4% over 12 months

Typical home value in 61602 over the last 12 months: $142K in Jun 2025 to $119K in Jun 2026 (-16.4%).

Jun 2025$142K

Jun 2026$119K

The numbers

What is the 61602 housing market like?

Typical home value

$119K

Down16.4%YoY

Median list price

$155K

Days on market

161

Up12.6%MoM

Homes for sale

8

Price cuts

7.4%

New listings

2

Sources · Zillow ZHVI (June 2026) / Realtor.com (June 2026) / FRED (July 2026)

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The comparison

How do 61602 home prices compare?

  • 61602$119,152
  • Peoria$123,059
  • Illinois$196,082
  • United States$291,471

Median Zillow home value (ZHVI), as of June 2026. Comparison levels are medians across every ZIP code with Zillow data (Peoria: 8 ZIPs; Illinois: 1,083 ZIPs; United States: 26,270 ZIPs).

Context

The 61602 market is small and slow right now. There were 8 homes for sale as of June 1, 2026, with only 2 new listings added. The median time on market is 161 days, which points to limited buyer urgency. About 7.4% of listings have taken a price cut. For sellers, this is a soft market, so realistic pricing and patience matter more than usual.

Monthly payment

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20% · $23,830

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