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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Peoria, AZ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Peoria, AZ Housing Market Trends

With a population of 197,866, 70,471 total housing units (homes and apartments), and a median house value of $426,660, 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 74.16% of the city's housing units. Other types of housing that are prevalent in Peoria include large apartment complexes or high rise apartments ( 12.49%), mobile homes or trailers ( 5.47%), and a few row houses and other attached homes ( 4.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Peoria. Owner-occupied housing accounts for 74.55% of Peoria's homes, and 60.94% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Peoria built from 1970 to 1999 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 between 2000 and later ( 41.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.74%).

Peoria Home Appreciation Rates

In the last 10 years, Peoria has experienced some of the highest home appreciation rates of any community in the nation. Peoria real estate appreciated 137.72% over the last ten years, which is an average annual home appreciation rate of 9.05%, putting Peoria in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Peoria definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 -7.03%, 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 2.26%, which equates to an annual appreciation rate of 9.36%.

Relative to Arizona, our data show that Peoria's latest annual appreciation rate is lower than 70% 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 2000, to assist you in making the best Peoria real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$426,660

Peoria, AZ Home Prices
> $1,473,000
$1,105,001 - $1,473,000
$736,001 - $1,105,000
$589,001 - $736,000
$442,001 - $589,000
$295,001 - $442,000
$147,001 - $295,000
$74,001 - $147,000
$0 - $74,000
1.3%
1.3%
2.2%
2.2%
10.6%
10.6%
13.8%
13.8%
23.1%
23.1%
26.9%
26.9%
14.4%
14.4%
2.5%
2.5%
5.3%
5.3%
0% 100.0%
% of Homes
Very High

for Arizona

High

for nation

Number of Homes And Apartments:

70,471

Peoria Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,283 / per month

Homeownership Rate

Owners
Renters
Vacant
74.5%
74.5%
25.5%
25.5%
7.2%
7.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
41.9%
41.9%
55.3%
55.3%
2.7%
2.7%
0.1%
0.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.2%
74.2%
4.7%
4.7%
2.8%
2.8%
12.5%
12.5%
5.5%
5.5%
0.3%
0.3%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.4%
1.4%
7.3%
7.3%
22.6%
22.6%
36.8%
36.8%
24.1%
24.1%
7.8%
7.8%
0% 100.0%
% of Homes