Foreclosures in Pekin, IL 61554

Current Market Conditions in Pekin, IL

Pekin's real estate market has shown resilience over the past year, with home prices steadily increasing due to demand. The average home price is on the rise as buyers seek affordable options in a desirable area close to larger cities like Peoria.

There has been a noticeable increase in new home construction, catering to the needs of families and first-time buyers. The local market is increasingly competitive, with homes often receiving multiple offers, particularly in sought-after neighborhoods.

Rent Prices 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 $1,142.00. Indeed, when looking to rent in Pekin, IL, you can expect to pay as little as $510.00 or as much as $2,600.00, 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 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.