Peoria - IL housing market
The Peoria metro has a typical home value of $174,841, up 6.7% from a year ago. Homes are moving fast at 8 days on market, a strong seller's market. 27% of listings have had a price cut. Data from Zillow Research, updated monthly.
Peoria housing market, October 2026
The typical Peoria home is worth $174,841 as of August 2026, up 0.5% from the prior month, up 1.2% over three months, and up 6.7% from a year ago. Over the past two years values have ranged from $151,591 to $174,841.
Homes are going pending in about 8 days, slower than the 6 days seen three months earlier. There are roughly 1,133 homes for sale, 8% more than a year ago. 27.0% of listings have taken a price cut (up from 20.4% three months ago).
Typical rent is $1,178 a month, up 5.8% year over year, which puts the price-to-rent ratio at 12.4.
At this week's 7.40% mortgage rate with 20% down ($34,968), the typical Peoria home costs about $1,187 a month including tax and insurance, which needs a household income of roughly $50,900 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($174,841) is the Zillow Home Value Index for the Peoria - IL metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 6.7% over the past year. In Peoria - IL, that means a home worth $163,862 last year is now worth roughly $174,841.
The median sale price, what homes actually close for, is $165,137. Homes are selling at 99.5% of list price, meaning buyers have room to negotiate.
Homes listed in Peoria - IL sit on the market for roughly 8 days before going pending. Shorter = seller's market; longer = buyer's market.
About 27.0% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 520 new listings hit the market each month in Peoria - IL. There are currently 1,133 homes for sale, up 8.0% from a year ago.
The typical monthly rent in Peoria - IL is $1,178, up 5.8% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 12.4x, buying territory (#188 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $968 a month in principal and interest, $210 less than renting before taxes, insurance and upkeep. The two break even at a 9.52% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in IL
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Chicago - IL | $357,265 | +4.9% | 12.0d |
| Davenport - IA | $196,628 | +5.2% | 11.0d |
| Rockford - IL | $224,246 | +8.7% | 6.0d |