The story of this market
The typical home in ZIP 61550 sells for about $325,000, or $125 per square foot.
Prices are up +3.5% from a year ago, so sellers still have some momentum. Homes take about 22 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,090 a month.
ZIP 61550 — Morton
The Morton housing market remains robust, driven by low inventory and high demand for its top-tier school district. Prices continue to appreciate steadily as the village maintains its appeal to families and professionals working in the Peoria metro area.
This ZIP is ideal for families seeking a stable, safe environment with high-quality schools, as well as professionals commuting to the Peoria metro area who prefer a suburban village atmosphere.
Median prices moved up 3.5% year over year.
Homes spend a median of 22 days on market with 2.8 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.5% · poverty 6.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 61550, Tazewell County IL
Morton generally reports low crime rates compared to the broader Peoria metropolitan area, maintaining a reputation as a safe, family-oriented community.
The area is served by Morton Community Unit School District 709, which is consistently highly rated and considered a primary driver for local residential demand.
The region faces standard Midwestern climate risks, including severe thunderstorms and occasional wind events, with flood risk primarily localized to specific low-lying areas near regional creeks.
Morton serves as a key industrial and agricultural hub, notably recognized as the 'Pumpkin Capital of the World' with significant processing operations, and benefits from its proximity to major Peoria-area employers.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Residents primarily commute via I-74, providing efficient access to major employment centers in Peoria and East Peoria within a 15-20 minute drive.
The village features extensive local park systems, including Birchwood Park and Idlewood Park, alongside community-focused amenities like the annual Pumpkin Festival and various local golf and dining options.
The rental market is characterized by low vacancy rates and steady demand, driven by a mix of local workers and families seeking access to the high-performing school district.
The local economy is anchored by food processing, manufacturing, and logistics, with strong ties to the broader Peoria industrial base.
The area is well-connected via the I-74 and I-155 corridors, facilitating regional transit and logistics.
Development is focused on maintaining the village's residential character while supporting modest commercial expansion along major thoroughfares.
Tazewell County assessments are conducted periodically to align with market values, following Illinois state property tax statutes.
Parcels are subject to Morton CUSD 709 school taxes and various local village and county special service districts.
Property insurance premiums are stable, reflecting the area's moderate risk profile for natural disasters.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Features walking trails and recreational facilities.
Annual community event drawing regional visitors.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.