Peoria Homes for SalePeoria Homes for Sale : PEORIA HOUSING MARKET INFORMATION
With a population of 172,259, 58,201 total housing units (homes and apartments), and a median house value of $288,310, 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 74.89% of the city’s housing units. Other types of housing that are prevalent in Peoria include large apartment complexes or high rise apartments ( 12.38%), mobile homes or trailers ( 5.51%), and a few row houses and other attached homes ( 5.33%).
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 72.62% of Peoria’s homes, and 61.14% 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 ( 37.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.61%).
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 109.62% over the last ten years, which is an average annual home appreciation rate of 7.68%, 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.
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 7.88%, which is higher than appreciation rates in 94.25% 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 2.42%, which equates to an annual appreciation rate of 10.02%.
Importantly, Neighborhood Scout’s exclusive research found that Peoria’s housing market shows one of the top real estate appreciation rates in the U.S.A.in the latest quarter, which 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 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 Neighborhood Scout 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.This information is provided to you by: https://www.neighborhoodscout.com/az/peoria/real-estate#description Find real estate for sale in Peoria and surrounding areas by selecting from our results below, or by entering your search criteria.
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