How much house does $500,000 buy you in Peoria?
Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000.
These current prices have put homeownership out of reach for many – and things don't look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.
While $500,000 once stretched much further, in many cities today, it's not nearly enough. But what about Peoria?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Peoria right now. Listings below $500,000 were included if necessary.
315 Elizabeth Pointe Dr, Germantown Hills, IL 61548
- Price: $469,900
- 5 bedrooms, 3.5 bathrooms
- Square feet: 4,203
- See 315 Elizabeth Pointe Dr, Germantown Hills, IL 61548 on Redfin.com
106 Samuel Ct, Washington, IL 61571
- Price: $499,900
- 5 bedrooms, 3.5 bathrooms
- Square feet: 3,336
- See 106 Samuel Ct, Washington, IL 61571 on Redfin.com
1712 Rustic Oak Dr, Washington, IL 61571
- Price: $460,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 3,247
- See 1712 Rustic Oak Dr, Washington, IL 61571 on Redfin.com
108 Samuel Ct, Washington, IL 61571
- Price: $499,900
- 5 bedrooms, 3 bathrooms
- Square feet: 3,282
- See 108 Samuel Ct, Washington, IL 61571 on Redfin.com
1120 Windy Hill Ct, Varna, IL 61375
- Price: $449,900
- 5 bedrooms, 2 bathrooms
- Square feet: 1,425
- See 1120 Windy Hill Ct, Varna, IL 61375 on Redfin.com
5310 W Fieldstone Dr, Peoria, IL 61615
- Price: $474,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 4,235
- See 5310 W Fieldstone Dr, Peoria, IL 61615 on Redfin.com
5727 W Deer Park Dr, Peoria, IL 61615
- Price: $474,800
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,924
- See 5727 W Deer Park Dr, Peoria, IL 61615 on Redfin.com
5614 W Woodbriar Ln, Peoria, IL 61615
- Price: $474,800
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,924
- See 5614 W Woodbriar Ln, Peoria, IL 61615 on Redfin.com
5610 W Woodbriar Ln, Peoria, IL 61615
- Price: $465,800
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,879
- See 5610 W Woodbriar Ln, Peoria, IL 61615 on Redfin.com
5624 W Woodbriar Ln, Peoria, IL 61615
- Price: $474,800
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,794
- See 5624 W Woodbriar Ln, Peoria, IL 61615 on Redfin.com
6004 W Woodbridge Pl, Peoria, IL 61615
- Price: $479,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,171
- See 6004 W Woodbridge Pl, Peoria, IL 61615 on Redfin.com
1203 W Wexford Pl, Peoria, IL 61615
- Price: $450,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,748
- See 1203 W Wexford Pl, Peoria, IL 61615 on Redfin.com
3826 W Fiona Way, Dunlap, IL 61525
- Price: $425,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,427
- See 3826 W Fiona Way, Dunlap, IL 61525 on Redfin.com
12320 W Downing Pl, Brimfield, IL 61517
- Price: $440,000
- 4 bedrooms, 3 bathrooms
- Square feet: 4,507
- See 12320 W Downing Pl, Brimfield, IL 61517 on Redfin.com
283 Old Germantown Rd, East Peoria, IL 61611
- Price: $479,900
- 4 bedrooms, 3 bathrooms
- Square feet: 3,828
- See 283 Old Germantown Rd, East Peoria, IL 61611 on Redfin.com
1315 W Wexford Pl, Peoria, IL 61615
- Price: $494,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,425
- See 1315 W Wexford Pl, Peoria, IL 61615 on Redfin.com
11119 N Tuscany Ridge Ct, Dunlap, IL 61525
- Price: $429,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,653
- See 11119 N Tuscany Ridge Ct, Dunlap, IL 61525 on Redfin.com
1304 W Hillcrest Dr, Chillicothe, IL 61523
- Price: $425,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,483
- See 1304 W Hillcrest Dr, Chillicothe, IL 61523 on Redfin.com
277 Clearview Rd, El Paso, IL 61738
- Price: $425,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,346
- See 277 Clearview Rd, El Paso, IL 61738 on Redfin.com
1220 S Main St, Morton, IL 61550
- Price: $447,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,159
- See 1220 S Main St, Morton, IL 61550 on Redfin.com
5723 W Woodbriar Ln, Peoria, IL 61615
- Price: $465,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 2,684
- See 5723 W Woodbriar Ln, Peoria, IL 61615 on Redfin.com
5727 W Woodbriar Ln, Peoria, IL 61615
- Price: $465,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 2,684
- See 5727 W Woodbriar Ln, Peoria, IL 61615 on Redfin.com
5723 W Deer Park Dr, Peoria, IL 61615
- Price: $488,000
- 3 bedrooms, 3 bathrooms
- Square feet: 3,990
- See 5723 W Deer Park Dr, Peoria, IL 61615 on Redfin.com
2716 W Woods Edge Dr, Peoria, IL 61614
- Price: $499,500
- 3 bedrooms, 3 bathrooms
- Square feet: 3,036
- See 2716 W Woods Edge Dr, Peoria, IL 61614 on Redfin.com
7615 Walnut Bend Dr, Peoria, IL 61614
- Price: $429,000
- 3 bedrooms, 3 bathrooms
- Square feet: 2,248
- See 7615 Walnut Bend Dr, Peoria, IL 61614 on Redfin.com
17327 W Us Highway 24, Glasford, IL 61533
- Price: $475,000
- 3 bedrooms, 3 bathrooms
- Square feet: 2,112
- See 17327 W Us Highway 24, Glasford, IL 61533 on Redfin.com
7606 N Walnutbend Dr, Peoria, IL 61615
- Price: $445,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,846
- See 7606 N Walnutbend Dr, Peoria, IL 61615 on Redfin.com
25479 N Boat Dock Rd, Canton, IL 61520
- Price: $488,000
- 3 bedrooms, 2 bathrooms
- Square feet: 4,216
- See 25479 N Boat Dock Rd, Canton, IL 61520 on Redfin.com
8802 Westpoint Ct, Edwards, IL 61528
- Price: $449,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,806
- See 8802 Westpoint Ct, Edwards, IL 61528 on Redfin.com
614 Brendalyn Dr, Mackinaw, IL 61755
- Price: $449,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,803
- See 614 Brendalyn Dr, Mackinaw, IL 61755 on Redfin.com
