Housing in Peoria, IL is much more affordable than the national average. The median value for a house in Peoria is $130,300 compared to the US median value of $338,100. Additionally, houses in Peoria appreciate at a higher rate than the national average - 11.02% compared to 8.27%. This indicates that housing in Peoria is becoming increasingly valuable and desirable. Due to its affordability and appreciation rate, investing in real estate in Peoria can be a worthwhile opportunity for potential buyers looking to purchase property.
The median home cost in Peoria is $130,300. Home appreciation the last 10 years has been 25.4%. Home Appreciation in Peoria is up 12.9%.
Average Age of Homes
- The median age of Peoria real estate is 55 years old
The Rental Market in Peoria
- Renters make up 40.0% of the Peoria population
- 3.4% of houses and apartments in Peoria, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.