Real Estate Investing in Peoria, Illinois (61605)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61605 (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.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 18.5% of homes vacant — above national norms.
- Elevated poverty: 33.5% poverty rate — can affect rent collection.
- Higher unemployment: 7.8% unemployment — tenant risk signal.
- Lower household income: $23,155 median — tenant affordability is tighter.
What’s happening in Peoria, IL (61605)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61605 Peoria
ZIP 61605 inside Peoria, IL leans into a value-add thesis. Home values near $41K sit below the state median, and rents of $818/mo leave room for forced-equity plays.
Cap rate math of 0.0% understates the return here. Post-rehab, stabilized yields climb, and the 61605 ZIP's older housing stock gives operators the opportunity set to execute.
Across IL, value-add opportunity tends to concentrate where housing stock is older and entry prices are below the state median. ZIP 61605 posts both traits clearly.
Household income in 61605 supports the rent-lift thesis. 13,538 residents, deep working-age cohort, and the kind of tenant profile that responds to upgraded stock.
Flippers with local expertise can do well in 61605. Out-of-state investors should partner with boots-on-the-ground operators or skip the ZIP entirely.
Here's what matters if you're considering buying a home in Peoria:
Property Strategy for 61605
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $26,629 | $760 | 20.5% | +5.3% | $26,629 |
| 2BR | $33,307 | $970 | 21.0% | +7.3% | $16,654 |
| 3BR | $38,906 | $1,260 | 23.3% | +6.3% | $12,969 |
| 4BR | $39,943 | $1,350 | 24.3% | +3.8% | $9,986 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 61605 Compare?
| Metric | 61605 | Peoria | Peoria, IL | Illinois |
|---|---|---|---|---|
| Home Value | $40,722 | $48,800 | N/A | $279,761 |
| 5-Year CAGR | 7.2% | 6.6% | N/A | 6.6% |
| Avg Rent | $818 | $1,266 | N/A | - |
| Cap Rate | 15.7% | 9.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61605 (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 | $40,722 |
| Monthly Rent | $818 |
| Price-to-Rent | 4.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 24.1% |
| Cap Rate | 15.7% |
| 5-Year IRR | 22.8% |
📈 Home Appreciation
| 1-Year | +15.3% ▲ |
| 3-Year CAGR | +9.1% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (15.7%) 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 61605
Population: 13,538
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 61605
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Pleasant Valley Intermediate Sch
Pleasant Valley Primary School
Quest Charter School Academy
Dr Maude A Sanders Primary School
Dr. C.T. Vivian Primary 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
Can BRRRR investors find deals in Peoria, IL?
Operators BRRRR-ing in Peoria, IL report a strong results. Focus on sub-market acquisition and tight rehab budgets to capture the spread.
Can you find 1% rule deals in Peoria, IL?
Yes, many Peoria, IL properties clear the 1% rule. The rent-to-price ratio averages 2.01%, supported by $818/mo rents.
How expensive is real estate in Peoria, IL?
Median home price in Peoria, IL is near $41K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
Which real estate strategy fits Peoria, IL?
Investors who focus on value-add and BRRRR deals typically do well in Peoria, IL. The numbers - $41K homes against $818/mo rents - support that play.
What kind of market is Peoria, IL for investors?
Investors tracking Peoria, IL will find a 5.0/5 rating supported by $41K median home values and $818/mo rents. That profile suits long-term holders targeting stable returns.
You know 61605 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 61605 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 61605 ranks in Peoria, IL
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