If you're looking for a home in Illinois and everything seems out of your price range, don't fret, there's a place for you.

Home prices have skyrocketed in what is becoming one of the biggest housing booms in years.

Andrii Yalanskyi

Houses are being sold over the asking price, sometimes sold before they are even listed.

So it's rough out there if you're trying to find a home on a budget.

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However Realtor.com and their 10 Most Affordable Metros list, there's a place for you in Illinois that won't break the bank.

Listed as the second cheapest city to find a home in America, Peoria has a median home price of $119,000.

Realtor:

Home prices have risen in Peoria—just at a more subdued pace. High taxes in the state of Illinois have driven out more residents than brought them in, and business closures over the past couple of decades mean fewer jobs...In the highly rated Dunlap School District, homes priced below $300,000, like this $99,000 three-bedroom house on a half-acre, are flying off the market. Pricier abodes, including this sprawling four-bedroom house listed for $510,000, aren’t quite as in demand since they can be out of budget for some Peorians.

$510,000 home in Peoria Photo Credit: Adam Merrick with Adam Merrick Real Estate
$99,000 home in Peoria Photo credit: Sunflower Real Estate Group, LLC

The good news is that you can find a home for cheap in Illinois, the bad news, you're going to probably spend more than what it's worth. That's just how it is right now.

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