ZIP Code 61602 — Peoria, IL Home Prices (2026)
The typical home in ZIP 61602 (Peoria, Illinois) is worth about $119,000 at roughly $130 per square foot — about the same as the Peoria median and 60% more affordable than the typical U.S. home.
How 61602 compares
ZIP 61602 is a mid-priced ZIP code for Peoria: its typical home value of $119,000 ranks #4 of the 7 Peoria ZIP codes we track (the citywide range runs from $41,000 in 61605 to $258,000 in 61615). Per square foot it costs about $130, against $77 for Peoria as a whole, $135 for Illinois, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 61602 | $119,000 | $130 |
| Peoria, IL | $119,000 | $77 |
| Illinois | $200,000 | $135 |
| United States | $294,000 | $195 |
Home value by size in 61602
Using this ZIP’s rate of about $130 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $130,000 |
| 1,500 sq ft | $195,000 |
| 2,000 sq ft | $260,000 |
| 2,500 sq ft | $325,000 |
| 3,000 sq ft | $390,000 |
Salary needed to buy a home in ZIP 61602
To buy the typical $119,000 home in ZIP 61602 with 20% down, you need a household income of roughly $32,000 a year (about $760 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $38,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $6,000 | $940/mo | $40,000/yr |
| 10% (+PMI) | $11,900 | $900/mo | $38,000/yr |
| 20% | $23,800 | $760/mo | $32,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 61602
At about $130 per square foot, here is roughly how much home different budgets get you in ZIP 61602:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 1150 sq ft | around the typical home here |
| $200k | 1540 sq ft | above the median — larger homes or the pricier ZIPs |
| $250k | 1920 sq ft | above the median — larger homes or the pricier ZIPs |
| $300k | 2310 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 61602 home.
Estimate a specific home in 61602
The estimator below is pre-set to ZIP 61602 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Peoria ZIP codes by home value
Where 61602 sits among Peoria’s 7 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 61615 | $258,000 | $120 |
| 2 | 61614 | $206,000 | $122 |
| 3 | 61606 | $122,000 | $76 |
| 4 | 61602 (this page) | $119,000 | $130 |
| 5 | 61604 | $114,000 | $77 |
| 6 | 61603 | $66,000 | $55 |
| 7 | 61605 | $41,000 | $40 |
ZIP 61602 home prices: frequently asked
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See the full Peoria home values page, all Illinois cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.