The story of this market
The typical home in ZIP 61564 sells for about $198,000, or $107 per square foot.
Prices are up +1.1% from a year ago, so sellers still have some momentum. Homes take about 90 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $800 a month.
ZIP 61564 — South Pekin
The Peoria housing market remains competitive with low inventory levels driving modest price appreciation. While the market is stable, the high months of supply relative to sales volume suggests a balanced environment for buyers and sellers. Continued economic stability from major local employers supports ongoing demand.
This area is well-suited for families and first-time homebuyers seeking affordability compared to national averages. It also attracts medical professionals and university staff due to the proximity to major employment hubs.
Median prices moved up 1.1% year over year.
Homes spend a median of 90 days on market with 16.1 months of supply — a slower-moving market.
31% of listings have cut prices · homes sell at 98% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.7% · poverty 9.9% — 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 5.2%/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 2.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 61564, Peoria County IL
Crime rates in Peoria 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 initiatives to address these regional trends.
The area is served by Peoria Public Schools District 150, which offers a mix of magnet and neighborhood schools. Performance varies significantly across the district, with several specialized programs receiving higher marks for academic achievement.
The region faces moderate risks from severe thunderstorms and occasional flooding near the Illinois River. Property insurance premiums are influenced by these weather patterns and the age of the local housing stock.
Peoria maintains a stable economic base anchored by healthcare, manufacturing, and education. Development momentum is focused on downtown revitalization and infrastructure improvements to support local industry.
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 typically rely on personal vehicles for commuting, with major access provided by I-74 and I-474. Public transit options are limited, primarily serving the central urban core.
The area features extensive park systems including the Peoria Park District, which manages numerous trails and green spaces. Shopping and dining are concentrated in the Grand Prairie and downtown districts.
The rental market is characterized by steady demand, particularly for multi-family units near the university and medical centers. Vacancy rates remain stable, with moderate rent growth observed over the past year.
The economy is driven by healthcare, manufacturing, and higher education. Major employers include OSF HealthCare, UnityPoint Health, and Caterpillar Inc.
The city is served by a network of highways including I-74 and I-474, facilitating regional travel. Public transportation is provided by CityLink bus services.
Current planning efforts focus on urban infill and the expansion of riverfront amenities. Infrastructure upgrades are prioritized to support commercial growth.
The Peoria County Supervisor of Assessments oversees the valuation of property for tax purposes, utilizing mass appraisal techniques.
Parcels are subject to various special districts including school districts, community college districts, and local library or park districts.
Property insurance costs are influenced by regional weather risks, including severe storms and flooding, leading to stable but elevated premiums.
Data retrieved from data.census.gov using ZCTA 61564 and Peoria County profiles.
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 dining, museums, and event spaces along the Illinois River.
Offers extensive hiking trails and educational programs.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.