Market Intelligence · IL / Peoria

Peoria, IL 61603 Housing Market

Typical home value in Peoria, IL 61603 reached $67,227 as of September 2026, up 10.6% over the past year. The median list price sits at $73,250, with homes taking a median 34 days to sell.

Updated September 2026Median value$67K

The median home value in Peoria, IL 61603 is $67K as of September 2026, up 10.6% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 61603 range

$62K to $73K

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

+10.6% over 12 months

Sep 2025$61K

Low $61KHigh $67K

Sep 2026$67K

The numbers

What is the 61603 housing market like?

As of September 2026

Typical home value

$67K

10.6%YoY

Median list price

$73K

17.2%MoM

Days on market

40.4%MoM

Homes for sale

35.1%MoM

Price cuts

9.5%

25.3%MoM

New listings

125.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

61603 housing market forecast 2027

+4.9%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 61603 to rise 4.9% by September 2027.

Over the 12 months through September 2026, typical home values in 61603 rose 10.6%, per the Zillow Home Value Index.

Will home prices drop in 61603?

Zillow's forecast does not call for a drop: it expects typical home values in 61603 to rise 4.9% by September 2027, after a 10.6% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 61603 home prices compare?

61603$67,227
Peoria$120,943
Illinois$194,737
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Peoria: 8 ZIPs; Illinois: 1,084 ZIPs; United States: 26,262 ZIPs).

Context

The market is active in 61603, with 50 homes for sale and 36 new listings as of September 2026. Homes are moving reasonably quickly at a median 34 days on market. Only 9.5% of listings have seen a price cut, which reflects the underlying strength in values. The gap between median list price and typical home value suggests some homes may be priced above market reality. For sellers, the modest inventory and steady buyer interest are balanced by the need to price competitively.

Monthly payment

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Home price

Down payment20% · $13,445

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Common questions

What people ask us.

What is the typical home value in 61603?

The typical home value is $67,227 as of September 2026, up 10.6% from the prior year.

How many homes are for sale in this ZIP?

There are 50 homes for sale as of September 2026, with 36 new listings in that same period.

How long do homes typically stay on the market?

The median days on market is 34 as of September 2026.

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