The story of this market
The typical home in ZIP 61560 sells for about $182,500, or $109 per square foot.
Prices are up +4.3% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,179 a month.
ZIP 61560 — Putnam
The Peoria housing market is currently experiencing steady growth, with median prices rising modestly year-over-year. Low inventory levels continue to drive competition, keeping the market in a seller-leaning position. Buyers remain active, though they are increasingly sensitive to interest rate fluctuations.
This area is well-suited for families and first-time homebuyers seeking affordability compared to larger metropolitan areas. It also attracts professionals working in the local healthcare and manufacturing sectors who prioritize a lower cost of living.
Median prices moved up 4.3% year over year.
Homes spend a median of 35 days on market with 1.1 months of supply — a fast-moving market.
17% of listings have cut prices · homes sell at 99.6% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.2% · poverty 10.9% — 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 5.3%/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 61560, Peoria County IL
Crime rates in the Peoria area are generally higher than the national average, with property crime being the most frequently reported issue. Local law enforcement continues to focus on community-based policing to address these regional trends.
The area is served by a mix of public and private institutions, with school quality varying significantly by district. Most residents are served by Peoria Public Schools District 150, which faces ongoing challenges regarding academic performance and resource allocation.
The region faces moderate risks from severe thunderstorms and occasional flooding near the Illinois River. Property insurance premiums are stable but reflect the regional exposure to wind and storm-related damage.
The local economy is anchored by major employers in healthcare, manufacturing, and education, including OSF HealthCare and Caterpillar. Development momentum is focused on downtown revitalization and infrastructure improvements to support regional connectivity.
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.
Commuting is primarily car-dependent, with major highways providing access to the Peoria employment core. Public transit options are limited, making personal vehicle ownership essential for most residents.
Residents have access to numerous parks, the Illinois River waterfront, and several golf courses within the immediate vicinity. Shopping and dining are concentrated in major commercial corridors and the downtown district.
The rental market is characterized by moderate demand and stable vacancy rates. Investors maintain a presence in the market, particularly in multi-family properties, while short-term rentals remain a niche segment.
The economy is driven by healthcare, manufacturing, and education. Major employers include OSF HealthCare, Caterpillar, and UnityPoint Health.
The area is served by a network of highways and local roads, with limited public transit options. Infrastructure improvements are ongoing to enhance regional traffic flow.
Development is focused on urban infill and the modernization of existing commercial infrastructure. Several mixed-use projects are in the planning stages for the downtown area.
The Peoria County Assessor's office manages property assessments, which are updated periodically to reflect market conditions.
Parcels are subject to various taxing districts, including school, library, and park districts, which contribute to the overall property tax burden.
Property insurance remains stable, though homeowners should account for potential risks related to severe weather events common in the Midwest.
Net domestic migration has been relatively flat, with a balance between residents moving to the area for employment and those relocating to other regions.
Illinois is a judicial foreclosure state, requiring court intervention for the foreclosure process, which can extend the timeline for lenders.
Sellers are required to provide a residential real property disclosure report, detailing the condition of the property to the best of their knowledge.
Data retrieved from data.census.gov using 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.
- Rip's Tavern4.617.5 mi
- Stone Jug Barbeque4.718.1 mi
- Haze Smokehouse4.619.5 mi
- Apollo Theater4.613.5 mi
- Westclox Museum4.719 mi
- Hornbaker Gardens, Inc.4.99.2 mi
- Spring Valley Boat Club4.614.5 mi
- Timber Ridge Golf Club4.710.9 mi
- Boggio’s Orchard & Produce4.510.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major hub for dining, entertainment, and riverfront activities.
Provides cultural events and athletic facilities to the community.
A historic scenic drive offering views of the Illinois River.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.