How much is a home in 61606 worth?

The typical home value in 61606 is $126,296, down 2.1% over the past year. The median list price for homes currently on the market is $177,450.

How long does it take to sell a home in 61606?

Homes in 61606 spend a median of 61 days on the market. There are currently 15 homes for sale, with 8 new listings as of 2026-08-01.

Are sellers cutting prices in 61606?

Yes, 30.8% of listings in 61606 have had a price cut as of 2026-08-01. This lines up with typical home values declining 2.1% over the past year.

Market Intelligence · IL / Peoria

Peoria, IL 61606 Housing Market

The typical home value in Peoria's 61606 ZIP code is $126,296, down 2.1% over the past year. Homes currently carry a median list price of $177,450 and spend a median of 61 days on the market.

Updated August 2026Median value$126K

The median home value in Peoria, IL 61606 is $126K as of August 2026, down 2.1% 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 61606 range

$116K to $136K

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

-2.1% over 12 months

Aug 2025$129K

Low $126KHigh $132K

Aug 2026$126K

The numbers

What is the 61606 housing market like?

As of August 2026

Typical home value

$126K

2.1%YoY

Median list price

$177K

27.3%MoM

Days on market

52.5%MoM

Homes for sale

16.7%MoM

Price cuts

30.8%

44.5%MoM

New listings

33.3%MoM

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

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The comparison

How do 61606 home prices compare?

61606$126,296
Peoria$122,577
Illinois$197,608
United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Peoria: 8 ZIPs; Illinois: 1,084 ZIPs; United States: 26,265 ZIPs).

Context

As of 2026-08-01, there are 15 homes for sale in 61606, with 8 new listings added. The typical home value stands at $126,296, down 2.1% over the past year, while the median list price is $177,450. Homes take a median of 61 days to sell, and 30.8% of listings have had a price cut. The gap between list prices and typical values, combined with falling values, suggests sellers may be aiming higher than what buyers are paying. If you are selling, realistic pricing from day one matters more than usual in this market.

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