There are currently 13,992 real estate properties in Pekin, IL, with a median automated valuation model (AVM) price of $102,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Pekin, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Pekin, IL, is $123,272.00, with the most expensive house in Pekin, IL, topping out at $3,886,500.00 and the cheapest home in Pekin, IL, clocking in at $24,200.00. In other words, there’s something for every potential homebuyer or savvy investor in Pekin, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Pekin, IL, is on a rollercoaster ride. The average rent price in Pekin, IL, is $1,154.00. Indeed, when looking to rent in Pekin, IL, you can expect to pay as little as $580.00 or as much as $2,600.00, with the average rent median estimated to be $1,090.00. The good news is that finding an affordable and desirable property to rent in Pekin, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Pekin, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Pekin, IL and much more. Save thousands at closing with home foreclosure listings in Pekin, IL — up to 75% off market value!
Pekin is located in Tazewell, Illinois, with an estimated municipal population of 32,045 residents. All of the best foreclosed homes for sale in Pekin are located in the following zip code areas on Foreclosure.com: 61554 61555 61558. The estimated population per square kilometer (.62 miles) in Pekin is 848.
So, about how much do homes cost in Pekin? The most recent median value of resident-owned homes in Pekin is 106,292. An estimated 69.4 percent of households in Pekin own their homes, with an average family size of 2.98. The median household income in Pekin is 50,973, with16.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Pekin, the median commute time of resident workers (in minutes) is 22.2. And last, but certainly not least, are you looking for homes to rent in Pekin? If so, the average rent price paid by renters in Pekin is 659, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Pekin, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Pekin is 39.7, split between 49 percent male versus 51 female. The percentage of residents who report being married in Pekin is 45.2, with an average family size of 2.98.
The percentage of residents who report their race in Pekin is as follows:
|Black / African American||2%|
|American Indian / Alaskan Native||0.2%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Pekin? Or maybe you are searching for 55+ active adult communities in and/or near Pekin?
The percentage of residents who report their age in Pekin is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Pekin with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Pekin.
How do you know that living in -- or moving to -- Pekin is right where you need to be? Perhaps you grew up in Pekin or already live nearby; therefore, the decision to buy a home in Pekin is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Pekin for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Pekin:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Pekin.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Pekin can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Pekin, meanwhile, can field multiple offers from more qualified buyers.