Location: Peoria, IL | Metro: Peoria, IL MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,740 | $322,437 | 0.54% | F |
| 4BR | $1,910 | $400,321 | 0.48% | F |
| 5BR | $2,216 | $492,485 | 0.45% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 61528 presents a unique set of conditions that suggest a stable market outlook over the next 12-24 months. With a median home value at $369,318, there is a strong foundation for pricing power, especially given the lack of significant reductions in listing prices. This indicates that sellers are maintaining confidence in their property values, which is crucial for maintaining or even slightly increasing prices.
The median days on market (DOM) being N/A suggests that homes are either selling quickly or the data is incomplete, which could imply a competitive market where homes are not lingering on the market for extended periods. A low DOM typically correlates with higher demand and can support higher prices if the supply remains constrained.
On the rental side, the Fair Market Rent (FMR) for ZIP 61528 is projected at $1450 for fiscal year 2024. The comparison between FMR and the actual market rent is currently N/A, which means it's unclear whether rental properties are priced below or above fair market rates. However, assuming the FMR is indicative of the broader rental market trends, it signals that rental income from properties in ZIP 61528 should remain steady, providing consistent cash flow for long-term investors.
For long-hold investors, the appreciation thesis in ZIP 61528 is grounded in the stability of both home values and rental rates. The lack of significant price reductions and the steady rental market suggest that while rapid appreciation might not be imminent, gradual increases in property values are likely. This setup supports a strategy focused on long-term growth rather than short-term gains, making ZIP 61528 an attractive area for those looking to build a sustainable real estate portfolio.
Landlords and small-portfolio investors should focus on maintaining their properties and ensuring they are priced competitively for both sale and rent. The current market conditions favor those who can hold onto properties for longer periods, allowing them to benefit from the slow but steady appreciation expected in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.