Market Overview
Home Prices in Pekin, IL
The median home value in Pekin, IL is $145,774 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.4% compared to a year ago and up 6.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Pekin are priced64% below average. Pekin is part of the Peoria, IL metro area.
Over the past five years, Pekin home values have risen by approximately42.9%, reflecting strong long-term appreciation in this market.
Price History
Pekin Home Price Trend
2020
$94,477
$94K
—
2021
$102,003
$102K
+8.0%
2022
$111,790
$112K
+9.6%
2023
$113,380
$113K
+1.4%
2024
$125,898
$126K
+11.0%
2025
$134,532
$135K
+6.9%
2026
$145,774
$146K
+8.4%
City Comparison
Pekin vs. National Median
🏠 Pekin
$145,774
National Median
$410,000
At $145,774, homes in Pekin cost 64% below the national median of $410,000. This makes Pekin a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Pekin?
20% Down Payment
$29,155
on $145,774
Monthly P&I
$760/mo
30-yr @ 6.8%
Total Monthly Est.
~$965/mo
incl. taxes & insurance
Income Needed
$38,600
gross annual (30% rule)
10% Down Option
$14,577
+ PMI applies
Loan Amount (20% dn)
$116,619
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Pekin, IL?
The median home value in Pekin is $145,774 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.4% year-over-year.
How much have home prices changed in Pekin?
Over the past year, home values in Pekin have increased by 8.4%. Over five years, prices have risen approximately 42.9%.
How much do I need to earn to buy a home in Pekin?
To comfortably afford the median home price of $145,774 with a 20% down payment ($29,155) at today's rates (6.8%), you'd need a gross annual income of approximately $38,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Pekin compare to the national average home price?
The national median home value is approximately $410,000. At $145,774, homes in Pekin are 64% below the national average.
What metro area is Pekin part of?
Pekin is part of the Peoria, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.