Market Intelligence · IL / Peoria

Peoria, IL 61605 Housing Market

The typical home in Peoria's 61605 ZIP code is worth $40,376, up 5.1% over the past year. The median list price sits at $45,000, with homes staying on the market for a median of 32 days as of September 2026.

Updated September 2026Median value$40K

The median home value in Peoria, IL 61605 is $40K as of September 2026, up 5.1% 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 61605 range

$37K to $44K

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

+5.1% over 12 months

Sep 2025$38K

Low $38KHigh $40K

Sep 2026$40K

The numbers

What is the 61605 housing market like?

As of September 2026

Typical home value

$40K

5.1%YoY

Median list price

$45K

0.0%MoM

Days on market

31.9%MoM

Homes for sale

25.0%MoM

Price cuts

24.4%

28.0%MoM

New listings

125.0%MoM

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

The outlook

61605 housing market forecast 2027

+3.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 61605 to rise 3.0% by September 2027.

Over the 12 months through September 2026, typical home values in 61605 rose 5.1%, per the Zillow Home Value Index.

Will home prices drop in 61605?

Zillow's forecast does not call for a drop: it expects typical home values in 61605 to rise 3.0% by September 2027, after a 5.1% 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 61605 home prices compare?

61605$40,376
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

There are 35 homes for sale in 61605, with 18 new listings added in September 2026. About one quarter of all listings, specifically 24.4%, have seen a price cut, indicating some negotiation in the market. Homes are moving at a moderate pace. For sellers, the steady year-over-year appreciation suggests the area retains value, but the prevalence of price reductions signals that pricing aggressively from the start matters.

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Common questions

What people ask us.

What is a typical home worth in 61605?

The typical home value is $40,376 as of September 2026, and has increased 5.1% over the past year.

How many homes are for sale in Peoria's 61605 ZIP code?

There are 35 homes currently listed for sale as of September 2026, with 18 new listings that month.

How long do homes stay on the market here?

Homes in 61605 have a median days on market of 32 as of September 2026.

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