61615, Peoria, IL

The 61615 zip code of Peoria, IL has a population of around 137,000 people. The median household income in this zip code is $60,000 which is lower than the Illinois median household income of $70,000. However, the home equity and home prices in this zip code are much higher than the Illinois median home equity and home prices.

According to Zillow’s Home Value Index for ZIP Codes in Illinois, the median home value in the 61615 zip code is $181,200 which is more than double the Illinois median home value of $84,500. Additionally, according to Trulia’s Home Values by Neighborhood report for ZIP Codes in Illinois with a population over 50,000 as of July 1st 2016 (the most recent data available), the average home value in this zip code is $236,900 which is also much higher than the Illinois average home value of $185,700. This indicates that homes in this zip code are worth a significantly higher amount than homes in other parts of Illinois.

One possible explanation for why homes in this zip code are worth so much more than homes elsewhere in Illinois may be due to factors such as location (this zip code is located near several major cities such as Peoria and Springfield), quality of construction (many homes in this zipcode were built between 1990 and 2000), or amenities (this area has many high-quality schools and businesses). Another possibility could be that there are more wealthy residents living in this area or that there are more affluent buyers looking to purchase property here. Whatever the reason may be, it appears that homes located within the 61615 zip code are worth a significant amount more than comparable properties elsewhere in Illinois.