Peoria appreciation rates and housing market information

Peoria housing market information

With 108,462 people, 42,669 houses or apartments, and a median cost of homes of $238,198, Peoria real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Peoria, accounting for 72.75% of the city's housing units. Other types of housing that are prevalent in Peoria include large apartment complexes or high rise apartments (10.35%), mobile homes or trailers (8.15%), row houses and other attached homes (5.74%), and a few duplexes, homes converted to apartments, or other small apartment buildings (1.47%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Peoria. Owner-occupied housing accounts for 77.45% of Peoria's homes, and 60.65% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Peoria built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Peoria built from 1995 and later (34.57%). A lesser amount of the housing stock also hails from 1940-1969 (3.54%), and some were built from 1939 and earlier (3.54%).

Peoria home appreciation rates

Real estate appreciation rates in Peoria have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.55% during the period.

Over the last year, Peoria appreciation rates have trailed the rest of the nation. In the last twelve months, Peoria's appreciation rate has been -17.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Peoria were at -1.42%, which equates to an annual appreciation rate of -5.68%.

Notably, Peoria's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arizona, our data show that Peoria's latest annual appreciation rate is higher than 9% of the other cities and towns in Arizona.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Peoria differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Peoria - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Peoria real estate investment or home purchase decisions.