Foreclosure Homes in Peoria, IL 61607

Current Market Conditions in Peoria, IL

The real estate market in Peoria, IL has seen a consistent demand in recent years, driven by both local and out-of-state buyers looking for affordability compared to larger urban areas. Housing prices are competitive, and there are a variety of property types available, from historic homes to new constructions.

Recent trends indicate a growing interest in investment properties, as rental demand remains high due to the presence of universities and manufacturing businesses. Investors can expect a favorable return on investment, particularly as the local economy continues to develop.

Rent Prices 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 $1,154.00. Indeed, when looking to rent in Peoria, IL, you can expect to pay as little as $490.00 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.