Peoria Heights, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Peoria Heights, IL 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 Heights Housing Market Information

With 5,979 people, 2,816 houses or apartments, and a median cost of homes of $108,679, house prices in Peoria Heights are solidly below the national average.

Single-family detached homes are the single most common housing type in Peoria Heights, accounting for 79.20% of the village's housing units. Other types of housing that are prevalent in Peoria Heights include large apartment complexes or high rise apartments ( 17.25%), duplexes, homes converted to apartments or other small apartment buildings ( 3.00%).

People in Peoria Heights primarily live in small (one, two or no bedroom) single-family detached homes. Peoria Heights has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Peoria Heights's housing was primarily built during this period, from the '40s through the '60s. A full 55.73% of the village's housing hails from this era. Other housing ages represented in Peoria Heights include homes built before 1939 ( 24.14%) and housing constructed between 1970-1999 ( 17.19%). There's also some housing in Peoria Heights built between 2000 and later ( 2.94%).

Vacant housing appears to be an issue in Peoria Heights. Fully 12.95% of the housing stock is classified as vacant. Left unchecked, vacant Peoria Heights homes and apartments can be a drag on the real estate market, holding Peoria Heights 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 Heights Home Appreciation Rates

Real estate appreciation rates in Peoria Heights's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.40% during the period.

Over the last year, Peoria Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Peoria Heights's appreciation rate has been 0.46%, 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 Heights were at -1.28%, which equates to an annual appreciation rate of -5.02%.

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

Relative to Illinois, our data show that Peoria Heights's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$108,679

Peoria Heights, IL HOME PRICES

Value Range
> $986,000 0.5
$739,001 - $986,000 4.9
$493,001 - $739,000 1.2
$395,001 - $493,000 1.1
$296,001 - $395,000 1.0
$197,001 - $296,000 6.6
$99,001 - $197,000 24.6
$49,001 - $99,000 53.4
$0 - $49,000 6.7

Low for IL
Low for Nation

Value Relative to Nation Value Relative to State
72.1610219149186 64.9367088607595

Number Of Homes And Apartments:
2,816

Peoria Heights Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
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
20.29% 1.08% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$790 / per month

Homeownership Rate

Homeownership
Owners 59.33
Renters 40.67
Vacant 12.95

Housing Market Details

 

Age of Homes

AGE OF Peoria Heights HOMES
2000 or Newer 2.9
1970 - 1999 17.2
1940 - 1969 55.7
1939 or Older 24.1

Types of Homes

TYPE OF Peoria Heights HOMES
Single-Family 79.2
Townhomes 0.4
Small Apt. Buildings 3.0
Apt. Complexes 17.2
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Peoria Heights HOMES
No Bedroom 2.47
1 Bedroom 17.53
2 Bedrooms 43.37
3 Bedrooms 25.10
4 Bedrooms 9.74
5 or more bedrooms 1.79

Popular Neighborhoods in Peoria Heights

Zip Codes in Peoria Heights, IL