Commercial Real Estate Market in Peoria, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
417 active listings and 4,248 off-market properties in Peoria, IL. Commercial property asks $37/SF to buy and $14.55/SF/Yr to lease.
Market Trends
Peoria, IL spans 149.1 square miles in Peoria County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Peoria, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Peoria, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Peoria, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Peoria, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 72.8%
- Industrial 13.4%
- Commercial 10%
- Civic 2.8%
- Agricultural 1%
Largest Zones share of zoned land by district
Single Family Residential District Medium Density
Single Family Residential District Medium Density
Single Family Residential District High Density
Large Scale Commercial District
Single Family Residential District Low Density
Peoria, IL zones 25,775 acres across 26 districts. Commercial zoning covers 10% of zoned land, residential 72.8% and industrial 13.4%. The largest single district is Single Family Residential District Medium Density at 35.5%. For commercial buyers the practical constraint is that only 23.4% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Peoria, IL has 163,918 residents in 79,469 households. Density runs 1,099 people per square mile. Median household income here is $60,145 and median gross rent $950 a month.
163,918
Population
79,469
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
92%
High-School Grad
149.1 sq mi
ZIP Area
1,099
Density / Sq Mi
$60,145
Median Household Income
$39,544
Median Earnings
$950
Median Rent
$134,692
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Peoria | — | — |
| West Peoria | — | — |
| Peoria Heights | — | — |
| Creve Coeur | — | — |
Commercial property in Peoria, IL asks $37/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Peoria?
Commercial property in Peoria, IL asks an average of $37 per square foot.
How much does it cost to lease commercial space in Peoria?
Asking lease rates in Peoria, IL average $14.55 per square foot per year.
What zoning applies to commercial property in Peoria?
Peoria, IL zones 25,775 acres across 26 districts, of which 10% is commercial and 13.4% industrial. The largest single district is Single Family Residential District Medium Density at 35.5% of zoned land. Residential zoning covers 72.8% and open space 0%.
Where does Realmo's Peoria market data come from?
Realmo compiles Peoria, IL figures from 6 recent recorded sales, 257 active sale listings, 160 active lease listings, 4,248 tracked off-market properties, the current Peoria zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 257 active for-sale and 160 active for-lease listings in Peoria, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 25,775 zoned acres across 26 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
