Peoria, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Peoria Neighborhoods Since 2000




Peoria, AZ Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Peoria Housing Market Information

With 171,230 people, 58,588 houses or apartments, and a median cost of homes of $243,693, 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 73.10% of the city's housing units. Other types of housing that are prevalent in Peoria include large apartment complexes or high rise apartments ( 13.36%), row houses and other attached homes ( 6.01%), and a few mobile homes or trailers ( 5.50%).

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 70.08% of Peoria's homes, and 59.71% 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 ( 35.47%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.08%).

Vacant housing appears to be an issue in Peoria. Fully 12.48% 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 21.26% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Peoria home appreciation rates at 2.04%, which equates to an annual appreciation rate of 8.40%.

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 8.44%, which is higher than appreciation rates in 88.68% 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 2.04%, which equates to an annual appreciation rate of 8.40%.

Importantly, this makes Peoria one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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:
$243,693

Peoria, AZ HOME PRICES

Value Range
> $1,338,000 0.5
$1,004,001 - $1,338,000 0.6
$669,001 - $1,004,000 2.3
$535,001 - $669,000 3.5
$401,001 - $535,000 11.2
$268,001 - $401,000 24.5
$134,001 - $268,000 38.5
$67,001 - $134,000 12.1
$0 - $67,000 6.7

Very High for AZ
High for Nation

Value Relative to Nation Value Relative to State
23.4677135825618 17.5675675675676

Number Of Homes And Apartments:
58,588

Peoria Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
58.80% 2.72% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,408 / per month

Homeownership Rate

Homeownership
Owners 70.08
Renters 29.92
Vacant 12.48

Housing Market Details

 

Age of Homes

AGE OF Peoria HOMES
2000 or Newer 35.5
1970 - 1999 62.3
1940 - 1969 2.1
1939 or Older 0.2

Types of Homes

TYPE OF Peoria HOMES
Single-Family 73.1
Townhomes 6.0
Small Apt. Buildings 1.9
Apt. Complexes 13.4
Mobile Homes 5.5
Other 0.2

Home Size

SIZE OF Peoria HOMES
No Bedroom 1.16
1 Bedroom 8.57
2 Bedrooms 22.88
3 Bedrooms 38.05
4 Bedrooms 21.66
5 or more bedrooms 7.67