ZIP 61614 - 860Z200US61614 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 61614, located in the heart of Peoria, Illinois, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 28,000 and a mix of housing options, this ZIP code presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you understand the community, economy, and housing landscape of 61614.

Population & Households

ZIP 61614 is home to 28,142 residents, making it a moderately sized community with a strong local presence. These individuals are distributed across 13,044 households, reflecting a blend of family units, singles, and retirees. The total number of housing units stands at 13,870, indicating a slight surplus of available homes or rentals compared to occupied households. This balance suggests potential opportunities for buyers or renters looking to settle in the area, as well as for investors eyeing vacant properties.

Income & Housing Costs

The median household income in ZIP 61614 is $68,379, positioning it as a community with a solid economic foundation. This income level supports a comfortable lifestyle for many residents and indicates purchasing power for local businesses. On the housing front, the median home value is $169,700, which is relatively affordable compared to national averages, making it an attractive option for first-time buyers or investors seeking value. For renters, the median rent is $948 per month, offering a cost-effective alternative to homeownership in a market with diverse housing stock.

Race & Ethnicity

The demographic makeup of ZIP 61614 reflects a diverse yet predominantly white community. Approximately 69.6% of residents identify as white, followed by 16.69% as Black, 5.27% as Asian, and 4.91% as Hispanic. This mix contributes to a culturally rich environment, which can be a draw for families and businesses looking to engage with a varied customer or client base. Understanding this composition can help tailor marketing strategies or community initiatives to resonate with local residents.

Key Facts

• Total population: 28,142 residents in 2023.
• Total households: 13,044, indicating a mix of family and individual living arrangements.
• Total housing units: 13,870, with some availability for new occupants.
• Median household income: $68,379, supporting a stable local economy.
• Median home value: $169,700, offering affordability for buyers.
• Median rent: $948, providing a reasonable option for renters.
• Racial composition: 69.6% white, 16.69% Black, 5.27% Asian, 4.91% Hispanic.

What This Means for You

For homebuyers, ZIP 61614 offers an affordable entry point with a median home value of $169,700, ideal for those seeking a stable community with a moderate cost of living. The slight surplus of housing units (13,870 total vs. 13,044 households) suggests you may have room to negotiate or find a property that fits your needs without intense competition.

For investors and real estate agents, the combination of reasonable home values and a median rent of $948 points to potential for rental income or property appreciation. The area’s population size and income levels indicate a steady demand for housing, whether for families or professionals relocating to Peoria.

For small-business owners, the diverse demographic profile and median income of $68,379 signal a customer base with disposable income and varied needs. Whether you’re opening a retail shop, service-based business, or restaurant, tailoring your offerings to the cultural mix (including significant Black and Asian populations) could help you build a loyal clientele.

For analysts, these metrics provide a foundation for deeper market studies, whether you’re assessing housing trends, economic stability, or community growth potential in 61614. The data reflects a balanced, accessible area worth exploring further.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 61614? Start by visiting ZipcodeGPT for a user-friendly platform to analyze demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing costs, and more, tailored to your specific interests.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business venture in any area.