Market Intelligence · IL / Peoria

Peoria, IL 61606 Housing Market

The typical home in Peoria, IL 61606 is worth $120,233, down 1.9% over the past year. The median list price sits at $174,900, with homes taking 41 days on market as of September 2026.

Updated September 2026Median value$120K

The median home value in Peoria, IL 61606 is $120K as of September 2026, down 1.9% 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 61606 range

$111K to $130K

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

-1.9% over 12 months

Sep 2025$123K

Low $120KHigh $126K

Sep 2026$120K

The numbers

What is the 61606 housing market like?

As of September 2026

Typical home value

$120K

1.9%YoY

Median list price

$175K

1.4%MoM

Days on market

32.8%MoM

Homes for sale

0.0%MoM

Price cuts

10.4%

66.1%MoM

New listings

25.0%MoM

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

The outlook

61606 housing market forecast 2027

+4.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 61606 to rise 4.2% by September 2027.

Over the 12 months through September 2026, typical home values in 61606 fell 1.9%, per the Zillow Home Value Index.

Will home prices drop in 61606?

Zillow's forecast does not call for a drop: it expects typical home values in 61606 to rise 4.2% by September 2027, after a 1.9% decline 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 61606 home prices compare?

61606$120,233
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

As of September 2026, there are 15 homes for sale in 61606, with 10 new listings added to the market. The median days on market of 41 suggests moderate buyer interest, though activity remains measured. About 10.4% of listings have received price cuts, reflecting the downward pressure on values. The inventory level and price-reduction rate suggest sellers should be realistic about competition and pricing when deciding whether to list.

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Down payment20% · $24,047

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Common questions

What people ask us.

What is a typical home worth in 61606?

The typical home value is $120,233 as of September 2026, down 1.9% from the prior year.

How long do homes stay on the market in 61606?

The median days on market is 41 as of September 2026.

How many homes are currently listed in 61606?

There are 15 homes for sale as of September 2026, with 10 new listings in that same period.

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Nearby ZIP markets.

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