Peoria County, Illinois Housing Market Prices
Peoria County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 74% below the Illinois median Cheaper than 88% of counties in Illinois$39,193
-
Median rent 22% below the Illinois median More expensive than 82% of counties in Illinois$992
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Peoria County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,193 | $149,936 | $248,835 |
| Price Trend (Annual %) | -7.6% | 2.5% | 7.5% |
| Median Gross Rent | $992 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Peoria County is about 74% lower than in Illinois. Rent is about 22% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Peoria County: home prices fell about 7.6% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
Median rent in Peoria County rose about 39.1% between 2015 and 2024, from $713 to $992. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in Peoria County.
Buying the median-priced home in Peoria County costs roughly 3.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Peoria County. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Peoria County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,193 | $149,936 | $248,835 |
| Median Household Income | $66,474 | $84,042 | $80,455 |
| Price-to-Income Ratio | 0.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Peoria County fell about 56.2%, while median household income rose about 36.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Peoria County | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.4% | 61.9% | 58.5% |
| Rental Rate | 30.2% | 30.4% | 31.2% |
| Vacancy Rate | 8.4% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Peoria County has a homeownership rate of 61.4%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 8.4%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Peoria County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1970 | 1969 | 1978 |
| Median Number of Rooms | 5.7 | 5.6 | 5.5 |
The typical housing unit in Peoria County was built around 1970. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Peoria County, IL Housing Compared With Nearby Counties
Peoria County, IL is the largest of the 4 counties compared here, 179,437 residents against a local median of 49,044. Where Peoria County, IL breaks from the counties next to it is median home price, sitting 47% below the local median of $74,502 at $39,193.
Median rent tells the same story from another angle: $992 against a local median of $787, 26% above it. The counties themselves spread $133,214 on median home price, so Peoria County, IL sits at one end of an already wide local range rather than apart from it. Peoria County, IL has the 3rd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Peoria County, IL | 179,437 | $39,193 #3/4 | $992 #1/4 | 67.0% #4/4 |
| Tazewell County, IL | 130,271 | $161,953 | $909 | 78.3% |
| Knox County, IL | 49,044 | $28,739 | $787 | 70.8% |
| Fulton County, IL | 33,018 | $74,502 | $784 | 76.6% |
Frequently Asked Questions
Common questions about the housing market in Peoria County, Illinois.
What is the median home price in Peoria County, Illinois?
The median home price in Peoria County, Illinois is $39,193, lower than the Illinois average of $149,936.
What is the average home price in Peoria County, Illinois?
The typical home price in Peoria County, Illinois, reported as the median sale price, is $39,193. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Peoria County, Illinois?
The median gross rent in Peoria County, Illinois is $992 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Peoria County in 2020?
In 2020, the median gross rent in Peoria County, Illinois was $813 per month.
What is the price-to-rent ratio in Peoria County, Illinois?
The price-to-rent ratio in Peoria County, Illinois is about 3.3, meaning it would take roughly 3.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Peoria County.
Are home prices or rent rising faster in Peoria County, Illinois?
Home prices and rent are moving in opposite directions in Peoria County: home prices fell about 7.6% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Peoria County, Illinois?
61.4% of households in Peoria County, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Peoria County, Illinois?
The housing vacancy rate in Peoria County, Illinois is 8.4%, higher than the Illinois average of 7.7%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →