The story of this market
The typical home in ZIP 61602 sells for about $149,500, or $109 per square foot.
Prices are up +2% 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 $965 a month.
ZIP 61602 — Peoria
The 61602 market is a small, urban-centric ZIP code within Peoria that is seeing modest price appreciation. Market conditions are driven by the ongoing redevelopment of the local Warehouse District, though inventory remains limited.
This ZIP is primarily suited for urban-dwelling professionals and investors interested in the revitalization of the downtown Warehouse District.
Median prices moved up 2.0% year over year.
Homes spend a median of 22 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 9.6% · poverty 44.6% — elevated distress and economic pressure.
ZCTA 61602, Peoria County IL
The area is characterized by the Warehouse District, which has seen revitalization efforts, though specific major employer counts for this ZIP are not determinable.
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.
The ZIP is located in the downtown Peoria area, providing proximity to the Illinois River waterfront and local urban amenities.
The economy is tied to the broader Peoria market, which features a mix of manufacturing, healthcare, and education sectors.
Data sourced from US Census Bureau and UnitedStatesZipCodes.org.
- The Putt Club East Peoria4.31.2 mi
- Elevate Trampoline Park4.58.2 mi
- Elevate Trampoline Park4.61.4 mi
- Kartville4.22.6 mi
- Chuck E. Cheese3.94.6 mi
- Peoria Civic Center4.21 mi
- Peoria Zoo4.33.1 mi
- Caterpillar Visitors Center4.71.1 mi
- Five Points Washington4.59.6 mi
- Kenny's Westside Pub4.51.1 mi
- Wildlife Prairie Park4.58.5 mi
- Peoria Zoo4.33.1 mi
- Peoria Riverfront Museum4.51 mi
- Detweiller Park4.78 mi
- AMC Grand Prairie 184.28.2 mi
- Peoria Riverfront Museum4.51 mi
- Caterpillar Visitors Center4.71.1 mi
- The Peoria PlayHouse4.62.9 mi
- Wheels O' Time Museum4.910.8 mi
- Soderstrom Castle4.65 mi
- Wildlife Prairie Park4.58.5 mi
- Detweiller Park4.78 mi
- Luthy Botanical Garden4.63.1 mi
- Forest Park Nature Center4.85.6 mi
- Glen Oak Park4.52.9 mi
- EastPort Marina4.53.1 mi
- Illinois Valley Yacht & Canoe Club4.65.4 mi
- Pekin Boat Club4.37.6 mi
- National Marine Service & Rentals4.35.7 mi
- WeaverRidge Golf Club4.35.5 mi
- Coyote Creek Golf Club4.67.2 mi
- Pine Lakes Golf Club4.67.3 mi
- Quail Meadows Golf Course4.45.5 mi
- Newman Golf Course42.5 mi
- Northwoods Mall44.5 mi
- Hy-Vee Grocery Store4.44.2 mi
- Kohl's4.21.5 mi
- Hy-Vee Grocery Store4.58.1 mi
- The Shoppes at Grand Prairie4.27.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A historic district featuring renovated buildings, restaurants, and nightlife.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.