Peoria, AZ—85345
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Peoria, AZ
As of Oct '25, the median home price in Peoria, AZ is $362,000, with a year-over-year change of -4.4%. This indicates that home prices in Peoria, AZ are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $362,000 | -4.4% |
| Single Family | $364,000 | -4.5% |
| Condos | $221,000 | -2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $270,000 | -5.6% |
3 Bed | $364,000 | -4.0% |
4 Bed | $410,000 | -4.4% |
| 5 Bed | $489,000 | -3.2% |
% of Housing Stock
Rental Trends — Peoria, AZ
As of July '25, Rentcast reports the average rent in Peoria, AZ is $1,900, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Peoria, AZ is studios: $999, 1-bedrooms: $1,310, 2-bedrooms: $1,600, 3-bedrooms: $2,070, 4-bedrooms: $2,170. The most common rental property sizes in Peoria, AZ are 3-bedroom and 2-bedroom, accounting for 36.0% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,900 |
| Studio Rent | $999 | $999 |
| 1 Bed Rent | $1,250 | $1,310 |
| 2 Bed Rent | $1,500 | $1,600 |
| 3 Bed Rent | $1,930 | $2,070 |
| 4 Bed Rent | $2,150 | $2,170 |
% of Rental Stock
Property Listings — Peoria, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Peoria, AZ is 61. This is a increase of 33.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $385,000 | -3.0% |
Listing Count | 133 | 2.0% |
| Listings as % of Homes | 0.5% | 2.0% |
Days on Market | 61 | 33.0% |
Demographics — Peoria, AZ
As of the latest ACS Survey released in 2023, Peoria, AZ has a population of 61,800, which has increased by 8.9% over the past 5 years. Peoria, AZ is a moderately popular place for families, as children make up 22.3% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 61,800 | 8.9% |
% Under 18 | 22.3% | -10.4% |
% Seniors | 15.3% | 14.2% |
% WFH | 13.7% | 448.0% |
% w/ College Degree | 18.1% | 3.4% |
As of the latest ACS Survey released in 2023, Peoria, AZ is a predominantly white area, with 51.1% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Peoria, AZ is hispanic, making up 33.8% of the population. Foreign-born residents account for 13.3% of the population in Peoria, AZ, and this percentage has increased by 41.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 51.1% | -5.9% |
% Black | 5.1% | 6.2% |
% Hispanic | 33.8% | -2.6% |
% Asian | 4.3% | 43.3% |
% Foreign Born | 13.3% | 41.5% |
Mortgage and Risk — Peoria, AZ
According to HUD data as of 2023, there were 785 mortgage originations in Peoria, AZ, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Peoria, AZ. Investor activity is low, as 2.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 785 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Peoria, AZ
As of 2024, the percent of homes in Peoria, AZ under the Section 8 program is 5.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Peoria, AZ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 423 |
Total Units Section 8 | 423 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $330 | $1,250 | $1,580 |
| 2 Bedroom | $340 | $1,500 | $1,840 |
| 3 Bedroom | $550 | $1,930 | $2,480 |
| 4 Bedroom | $620 | $2,150 | $2,770 |
Affordability — Peoria, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $362,000 |
| Median Household Income | $64,600 |