ZIP Code · IL

ZIP 61603

Part of Peoria, IL

Pop. 15,356·Peoria County·203rd most expensive ZIP in Illinois

Median rent (all units)

$1,166/mo

Year-over-Year

+6.1%

Month-over-Month

-1.4%

vs US Median

-$766

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 61603 · $1,166

More affordable than 93% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$810

1 BR

$870

2 BR

$1,110

3 BR

$1,440

4 BR+

$1,550

Research median

$1,110/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 61603 is 1.4% below its high of $1,183 in August 2026, at $1,166 as of September 2026.

Past year vs. the rest of Illinois

Rent in ZIP 61603 changed +6.1% over the year to September 2026. Across the 172 Illinois ZIP codes Zillow tracks, the typical change was +4.7%.

Recent direction

Rent rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($41,618) is $1,040 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($870); a 2-bedroom is $1,110.

Rank in Peoria

3rd cheapest of 5 ZIP codes in Peoria.

Cheaper nearby

ZIP 61611, 2 miles away, rents for 21% less ($923/mo), about $2,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 61603. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$13,992/yr

At $1,166/mo median

Location

CityPeoria

StateIL

CountyPeoria County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (6.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+6.1% YoY, -1.4% MoM), not inventory.

Demographics

Who lives here

ZIP 61603 (Peoria, IL) is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 14.7% of residents hold a bachelor's degree or higher.

Population

15,356

Median income

$41,618

Median age

34.1

Renters

47.1%

Age distribution

28.8%

22.3%

23.8%

13.9%

Under 1828.8%

18–3422.3%

35–5423.8%

55–6411.2%

65+13.9%

Gender

50%

Male50%

Female50%

Race & ethnicity

34.4%

38.7%

13.6%

White34.4%

Black38.7%

Hispanic13.6%

Asian1.5%

Other11.8%

Education (25+)

12%

39.8%

33.4%

14.7%

No HS diploma12%

HS diploma39.8%

Some college33.4%

Bachelor's+14.7%

Housing tenure

52.9%

47.1%

Owner52.9%

Renter47.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 61603 in Peoria, IL has changed in 5 years

Income

$34,589 → $41,618

up 20.3%

Population

15,747 → 15,356

down 2.5%

Renter share

52.3% → 47.1%

-5.2 pts

Bachelor's+

18.1% → 14.7%

-3.4 pts

Median age

36.2 → 34.1

-2.1 yrs

Household income in the area moved from $34,589 to $41,618 across the same window, up 20.3% versus 2021. Census counts show ZIP 61603 in Peoria, IL losing about 391 residents over the five-year window, down 2.5% on net. The renter share has eased from 52.3% to 47.1%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 18.1% to 14.7% across the same window.

Community

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Local insights

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About renting in ZIP 61603

Last updated: October 17, 2026

ZIP code 61603 covers Peoria, IL. The median rent here is $1,166/mo as of October 2026. A 1-bedroom rents for a median of $870/mo. A 2-bedroom rents for a median of $1,110/mo.

At 34% of local median household income ($41,618/yr), ZIP 61603 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 61603?

To keep rent at or below 30% of gross income, you would need to earn at least $47,000/year (about $23/hour full-time) to afford the median rent of $1,166/mo in ZIP 61603. The local median household income is $41,618/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 61603?

Rent in ZIP 61603 has risen 6.1% over the past year as of September 2026. It sits 1.4% below its high of $1,183 in August 2026.

How does ZIP 61603 compare to other ZIPs in Illinois?

ZIP 61603 is one of the more affordable among Illinois ZIP codes for rent, ranking #203 of 227 at $1,166/mo. Over the year to September 2026, rent in ZIP 61603 changed +6.1%, against a typical +4.7% across the 172 Illinois ZIP codes Zillow tracks.