Peoria, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Peoria, AZ Real Estate Data


Peoria Housing Market Information

With 171,230 people, 58,203 houses or apartments, and a median cost of homes of $267,509, 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 72.33% of the city's housing units. Other types of housing that are prevalent in Peoria include large apartment complexes or high rise apartments ( 13.90%), row houses and other attached homes ( 6.04%), and a few mobile homes or trailers ( 5.59%).

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 69.44% of Peoria's homes, and 59.39% 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 ( 35.16%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.20%).

Vacant housing appears to be an issue in Peoria. Fully 12.79% of the housing stock is classified as vacant. Left unchecked, vacant Peoria homes and apartments can be a drag on the real estate market, holding Peoria real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Peoria Home Appreciation Rates

Homes have actually lost value in Peoria over the last then years, as home values have seen a decline of 23.83% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Peoria home appreciation rates at 2.46%, which equates to an annual appreciation rate of 10.22%.

Appreciation rates are so strong in Peoria that despite a nationwide downturn in the housing market, Peoria real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Peoria appreciation rates continue to be some of the highest in America, at 7.57%, which is higher than appreciation rates in 89.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Peoria. Peoria appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.22%.

Relative to Arizona, our data show that Peoria's latest annual appreciation rate is higher than 50% 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:
$267,509

Peoria, AZ HOME PRICES

Value Range
> $1,452,000 0.4
$1,089,001 - $1,452,000 0.5
$726,001 - $1,089,000 2.2
$581,001 - $726,000 3.6
$436,001 - $581,000 9.8
$290,001 - $436,000 23.6
$145,001 - $290,000 39.5
$73,001 - $145,000 13.3
$0 - $73,000 7.2

Very High for AZ
High for Nation

Value Relative to Nation Value Relative to State
20.6066639339462 16.1073825503356

Number Of Homes And Apartments:
58,203

Rent & Ownership

 

Average Market Rent:
$1,588 / per month

Homeownership Rate

Homeownership
Owners 69.44
Renters 30.56
Vacant 12.79

Housing Market Details

 

Age of Homes

AGE OF Peoria HOMES
2000 or Newer 35.2
1970 - 1999 62.5
1940 - 1969 2.2
1939 or Older 0.1

Types of Homes

TYPE OF Peoria HOMES
Single-Family 72.3
Townhomes 6.0
Small Apt. Buildings 2.0
Apt. Complexes 13.9
Mobile Homes 5.6
Other 0.2

Home Size

SIZE OF Peoria HOMES
No Bedroom 1.22
1 Bedroom 9.01
2 Bedrooms 22.62
3 Bedrooms 38.52
4 Bedrooms 20.87
5 or more bedrooms 7.76

Peoria Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
54.85% 2.61% 6 7
* 10 is highest