61602 — Peoria County, Illinois Market Snapshot
Housing market data for zip code 61602 in Peoria County, Illinois. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 5 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Peoria County county page for broader data.
Market Sales Data
5 sales in 2026 (year to date)
Median Sale Price
$174,900
Days to Sell
143
Homes Sold
5
Inventory
11
Conforming Loan Available
Most homebuyers in 61602 can comfortably use conventional financing. The median home price of $174,900 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 143 days on average, 61602 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Conforming Loan Feasibility
Most homebuyers in 61602 can comfortably use conventional financing. The median home price of $174,900 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 61602 are set at the county level.
2026 Loan Limits — Peoria County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 61602
To purchase the median home at $174,900 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,490.
Monthly Payment
$1,490
Income Required
$63,858
Principal & Interest
$1,078/mo
Down Payment (5%)
$8,745
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 61602.
Estimated Monthly Payment
$1,232
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