There are currently 40,509 real estate properties in Peoria, IL, with a median automated valuation model (AVM) price of $96,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Peoria, 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 Peoria, IL, is $120,763.00, with the most expensive house in Peoria, IL, topping out at $3,621,900.00 and the cheapest home in Peoria, IL, clocking in at $12,600.00. In other words, there’s something for every potential homebuyer or savvy investor in Peoria, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Peoria, IL, is on a rollercoaster ride. The average rent price in Peoria, IL, is $1,151.00. Indeed, when looking to rent in Peoria, IL, you can expect to pay as little as $500.00 or as much as $3,060.00, with the average rent median estimated to be $1,080.00. The good news is that finding an affordable and desirable property to rent in Peoria, 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 Peoria, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Peoria, IL and much more. Save thousands at closing with home foreclosure listings in Peoria, IL — up to 75% off market value!
Peoria is located in Peoria, Illinois, with an estimated municipal population of 110,417 residents. All of the best foreclosed homes for sale in Peoria are located in the following zip code areas on Foreclosure.com: 61625 61606 61615 61614 61605 61602 61603 61604 61601 61613 61629 61630 61634 61636 61637 61638 61639 61643 61651 61652 61653 61654 61655 61656. The estimated population per square kilometer (.62 miles) in Peoria is 888.
So, about how much do homes cost in Peoria? The most recent median value of resident-owned homes in Peoria is 125,686. An estimated 55.9 percent of households in Peoria own their homes, with an average family size of 3.2. The median household income in Peoria is 51,771, with22.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Peoria, the median commute time of resident workers (in minutes) is 17. And last, but certainly not least, are you looking for homes to rent in Peoria? If so, the average rent price paid by renters in Peoria is 806, 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 Peoria, 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 Peoria is 35.2, split between 48 percent male versus 52 female. The percentage of residents who report being married in Peoria is 39.9, with an average family size of 3.2.
The percentage of residents who report their race in Peoria is as follows:
|Black / African American||27.1%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Peoria? Or maybe you are searching for 55+ active adult communities in and/or near Peoria?
The percentage of residents who report their age in Peoria 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 Peoria with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Peoria.
How do you know that living in -- or moving to -- Peoria is right where you need to be? Perhaps you grew up in Peoria or already live nearby; therefore, the decision to buy a home in Peoria is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Peoria 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 Peoria:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Peoria.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Peoria can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Peoria, meanwhile, can field multiple offers from more qualified buyers.