Peoria, AZ—85381
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 $449,000, with a year-over-year change of -4.2%. This indicates that home prices in Peoria, AZ are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $449,000 | -4.2% |
| Single Family | $454,000 | -4.2% |
| Condos | $217,000 | -4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $272,000 | -5.6% |
3 Bed | $415,000 | -4.6% |
4 Bed | $494,000 | -3.9% |
| 5 Bed | $626,000 | -1.9% |
% of Housing Stock
Rental Trends — Peoria, AZ
As of July '25, Rentcast reports the average rent in Peoria, AZ is $2,080, with a year-over-year rent change of -6.3%. Per bedroom, the median rent as of July '25 in Peoria, AZ is studios: $1,420, 1-bedrooms: $1,190, 2-bedrooms: $1,890, 3-bedrooms: $2,250, 4-bedrooms: $2,630. The most common rental property sizes in Peoria, AZ are 2-bedroom and 1-bedroom, accounting for 38.3% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,080 |
| Studio Rent | $1,250 | $1,420 |
| 1 Bed Rent | $1,220 | $1,190 |
| 2 Bed Rent | $1,580 | $1,890 |
| 3 Bed Rent | $2,100 | $2,250 |
| 4 Bed Rent | $2,600 | $2,630 |
% 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 46. This is a increase of 25.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $483,000 | -15.0% |
Listing Count | 100 | 47.0% |
| Listings as % of Homes | 0.4% | 47.0% |
Days on Market | 46 | 25.0% |
Demographics — Peoria, AZ
As of the latest ACS Survey released in 2023, Peoria, AZ has a population of 26,900, which has increased by 5.7% over the past 5 years. Peoria, AZ is a moderately popular place for families, as children make up 18.5% of the population. The area has a moderately educated workforce, with 33.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,900 | 5.7% |
% Under 18 | 18.5% | 1.1% |
% Seniors | 19.7% | 7.1% |
% WFH | 18.6% | 204.9% |
% w/ College Degree | 33.7% | 11.6% |
As of the latest ACS Survey released in 2023, Peoria, AZ is a predominantly white area, with 69.4% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Peoria, AZ is hispanic, making up 21.2% of the population. Foreign-born residents account for 7.0% of the population in Peoria, AZ, and this percentage has decreased by 19.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.4% | -2.1% |
% Black | 2.8% | -22.2% |
% Hispanic | 21.2% | 27.7% |
% Asian | 2.9% | -39.6% |
% Foreign Born | 7.0% | -19.5% |
Mortgage and Risk — Peoria, AZ
According to HUD data as of 2023, there were 504 mortgage originations in Peoria, AZ, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Peoria, AZ. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 504 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Peoria, AZ
As of 2024, the percent of homes in Peoria, AZ under the Section 8 program is 0.9%. 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 | 54 |
Total Units Section 8 | 48 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $550 | $1,220 | $1,770 |
| 2 Bedroom | $480 | $1,580 | $2,060 |
| 3 Bedroom | $670 | $2,100 | $2,770 |
| 4 Bedroom | $500 | $2,600 | $3,100 |
Affordability — Peoria, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $449,000 |
| Median Household Income | $94,400 |