Real Estate Investing in Peoria, Illinois (61603)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61603 (Peoria, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 20.7% of homes vacant — above national norms.
- Elevated poverty: 22.2% poverty rate — can affect rent collection.
- Higher unemployment: 11.1% unemployment — tenant risk signal.
What’s happening in Peoria, IL (61603)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61603 Peoria
ZIP 61603 inside Peoria, IL leans into a value-add thesis. Home values near $66K sit below the state median, and rents of $1,168/mo leave room for forced-equity plays.
Flippers and value-add operators have treated 61603 as a working ZIP for a reason. Entry prices around $66K and a deep rental base of 52% renters underpin the exit strategy on both the sale and rent sides.
Statewide, IL value-add investors migrate toward ZIPs with 61603's profile — older stock, soft but real rent growth, and $66K pricing that keeps rehab math workable.
Residents in 61603 skew younger than the county average, and that matters for rehab positioning. Younger renters respond to finishes, appliances, and in-unit laundry in ways that move rent.
BRRRR is the most natural fit. Buy under $66K, rehab, refinance, and the capital recycles in a way turnkey markets cannot replicate.
Here's what matters if you're considering buying a home in Peoria:
Property Strategy for 61603
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $42,476 | $870 | 14.7% | +9.0% | $42,476 |
| 2BR | $53,077 | $1,110 | 15.1% | +9.3% | $26,538 |
| 3BR | $62,188 | $1,440 | 16.7% | +7.9% | $20,729 |
| 4BR | $59,709 | $1,550 | 18.7% | +7.7% | $14,927 |
| 5BR | $64,260 | — | — | +4.0% | $12,852 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61603 Compare?
| Metric | 61603 | Peoria | Peoria, IL | Illinois |
|---|---|---|---|---|
| Home Value | $66,119 | $48,800 | N/A | $279,761 |
| 5-Year CAGR | 8.1% | 6.6% | N/A | 6.6% |
| Avg Rent | $1,168 | $1,266 | N/A | - |
| Cap Rate | 13.8% | 9.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61603 (Peoria, IL). Anonymous, moderated, never written by AI.
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Property managers serving Peoria County
Manage rentals here? List your business →NHS Property Management, Inc. offers residential, commercial, and HOA property management services in Peoria, managing apartments and townhomes. summary from their website
S&S Property Management offers residential and commercial property management services in the Peoria, IL metropolitan area and Central Illinois, including apartments, rental homes, condos, and commerc summary from their website
Principle Property Management is proudly rooted in Peoria. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $66,119 |
| Monthly Rent | $1,168 |
| Price-to-Rent | 4.7:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 21.2% |
| Cap Rate | 13.8% |
| 5-Year IRR | 21.9% |
📈 Home Appreciation
| 1-Year | +18.0% ▲ |
| 3-Year CAGR | +10.2% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 Rent Trends
| 1-Year | -3.1% ▼ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | N/A |
The estimated cap rate (13.8%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61603
Population: 15,430
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 61603
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Central Jr High School
Don D Shute Elem School
Peoria Heights High School
Franklin Primary School
Peoria Heights Grade School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,842 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Peoria, IL a smart market for rental property?
Peoria, IL reports an investability rating of 5.0/5, with median home values near $66K and average rents around $1,168/mo. That combination puts it in the durable tier for investor interest.
What is the median home value in Peoria, IL?
Peoria, IL median home values land near $66K. That is reasonable territory for investors looking at $1,168/mo-per-month rentals.
What are rental rates like in Peoria, IL?
Rents in Peoria, IL run near $1,168/mo. Compared with median home prices of $66K that produces solid gross yields for typical rentals.
What is the smart move for investors in Peoria, IL?
Investors usually favor value-add and BRRRR deals in Peoria, IL. With home values at $66K and rents near $1,168/mo, other strategies can work but produce steady rather than outsized returns.
How well does BRRRR work in Peoria, IL?
Peoria, IL BRRRR deals are a strong. With proper buy-side discipline, operators can recycle most of their capital post-refinance.
You know 61603 now. You don’t know where it ranks.
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How 61603 ranks in Peoria, IL
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