Get to Know Peoria, AZ Real Estate

Is the desert calling to you? One of the top places to live in the Sonoran Desert is the Phoenix suburb of Peoria. Here, urban amenities meet desert serenity in harmony. Picture yourself exploring the downtown arts scene or trail running through the nearby desert landscapes and preserves. Find perks like a thriving job market, spring training baseball, excellent schools, and a lake spanning thousands of acres. 

As a fast-growing region, all real estate in Maricopa County is in hand demand. Peoria homes are no different. Our guide will help you gain insight into the Peoria real estate market and kickstart your next home search. 

About Peoria, AZ

Peoria lies in the Sonoran Desert, just a quick drive northwest of downtown Phoenix. Established as an agricultural hub in the late 19th century, Peoria has evolved into a modern city that proudly promotes itself as a harmonious blend of urban living. Recent accolades include:

• Raising Arizona’s second-best place to live in the state, 2022
• Top master-planned community in the state–Vistancia, 2022
• Top 20 American Boomtowns by Smart Asset
• 6th Wealthiest Zip Code in the Valley, 2020

Plus, it has top-ranked public and charter schools consistently performing among the state’s best. Its robust job market, commitment to arts and culture, and access to unique recreational facilities make Peoria an attractive hometown. 

Is Peoria, AZ growing?

Peoria’s high-quality lifestyle is behind a population growth rate that has consistently outpaced the national average. The US Census Bureau estimated Peoria had 197,966 residents in 2022, but population projections call for it to grow by 22% by 2030 and another 70% by 2060. 

If that seems phenomenal, Peoria already added 36,000 new residents from 2010 to 2020! It grew 18% in a five-year period from 2016 to 2021. Today, it’s the ninth-largest city in Arizona.

What county is Peoria, AZ, in?

Maricopa County is part of the larger Phoenix-Mesa-Scottsdale metropolitan area. Its borders encompass 9,000 square miles, contain over 4.5 million people, and are growing. It’s the largest capital region in the US.

The highly urbanized county developed in the Sonoran Desert. Besides the Phoenix metro and its cities, Maricopa is known for its desert climate of mild winters and hot summers. The beautiful landscape includes many mountain ranges, rivers, canyons, mesas, and red-rock formations.

If you buy in far north Peoria, you may find yourself in Yavapai County, a more rural area in central Arizona.

What is the cost of living in Peoria, AZ?

Living here is in high demand, and your goods and services in Peoria reflect that. Based on 2022 numbers, expect to pay 14% more for living here. Housing costs are the primary reason why it’s more expensive in Peoria. Still, you’ll also shell out more for transportation and miscellaneous costs. 

Homes and Peoria real estate

The Peoria real estate market has significantly benefited from this growth and transformation, but the market conditions as of summer 2023 are more challenging for home buyers. 

Like much of the nation and the metro, Peoria’s available home listings were down. For July 2023, new listings of single-family home (SFH) were down 42% year-over-year and 36% year-to-date. Townhomes and condos new listings were down 62% year-over-year and 29% year-to-date. 

Median sale prices dropped by 8% to $497,950 for SFH and 21% to 307,500 for condos. Prices peaked in February 2022 at $592,900. 

Inventory was 2.0 months for SFH and 1.1 months for townhomes and condos.

Are there any condos or townhomes available in Peoria, AZ? 

Single-family homes dominate the Phoenix metro, partially from how the region grew and partially from restrictions on multi-family housing. That said, you can find townhomes and condos, just at a reduced number compared to the total available listings.

As an example, for July 2023, Peoria had 22 condos or townhomes for sale but 329 single-family homes.

Condo median prices were down 22% to $307,500 for July 2023 and came in at $317,000 for the year-to-date. Their size ranged from villas at 1,300 sq ft to 4,225 sq ft for upscale townhomes in a golf course community. Sections of town where you can find condos include Westbrook Village, Foxwood, and Sun Air Estates, but a local real estate agent can show you more.

Are there any waterfront properties found in Peoria, AZ?

Peoria is home to the Lake Pleasant Regional Park, a massive lake spanning thousands of acres, but it’s entirely surrounded by a park with no waterfront housing. The New River runs through parts of Peoria on its way to join the Aqua Fina River. However, finding the waterfront is challenging as most of the riverfront is a park space with a trail. Waterfront just isn’t common in a desert.

Top neighborhoods in Peoria

For those looking for an established, family-friendly community with excellent shopping and dining, check out Vistancia. It’s the largest master-planned development in the state and ranked no. 1 in the state four years running with Raising Arizona magazine. Its four villages include a gated golf course community, a family-focused village, and a resort-style active adult community. 

Fletcher Heights is another master-planned community with easy access to shopping and dining. Built at the turn of the millennium, it has over 2,000 single-family homes and an HOA that oversees its common grounds and community events. The amenities include three water features, nine acres of turfed public space, 40 acres of natural desert landscape, and a trail network. 

Parkridge’s mid-sized single-family homes range from 1,600 to nearly 4,000 sq ft. It’s a family-friendly neighborhood with excellent schools and a private HOA. Local perks include a library, Parkridge Park, and a shopping center.

Westbrook Village is an active adult community for ages 55 and up, with condos, villas, and seven distinct neighborhoods. The facilities include golf courses, outdoor pools, restaurants, and social clubs. 

The Meadows is another master-planned community broken into more sub-neighborhoods with perks like walking trails and neighborhood parks. Homes range anywhere from 1,600 sq ft to 6,000 sq ft. 

Are there golf course communities in Peoria, AZ? 

Dove Valley Ranch is a golf course community built around the Robert Trent Jones-designed championship course. Homes were constructed in 12 distinct communities on spacious lots. Each individual community is gated for extra privacy, and there is an HOA. 

Vistancia includes two golf course living choices. First, Blackstone’s private community and country club features an award-winning course designed by Jim Engh. Over in the adult community Trilogy, Gary Panks designed the 18-hole public championship golf course. The country club has an upscale club atmosphere with dining and social events.

Another active adult community with golf course living, Westbrook Village has 3,900 homes built around two 18-hole championship Robert Trent Jones Jr.-designed golf courses. The courses are private during peak season from November to April. 

What is the property tax rate for Peoria, AZ?

The property tax rate for Maricopa County in 2022 was 1.2473 for the primary levy and 0.2097 mils for the secondary levy. Peoria charged 4.3371 with a secondary rate of 1.8596 mils. Neither rates include the public school tax rate. Three school districts serve Peoria, and each sets different tax rates. Look at the address of the home you’re considering buying to determine its property tax burden.

If you buy a home in the Yavapai County region of Peoria, your primary levy is 1.7925 mils.

Leading things to do in Peoria, AZ

Lake Pleasant Regional Park and its 23,000-acre lake, the second-largest in the state, are a top attraction. The surrounding park facilities have two marinas, camping, and hiking. The landscape is home to various desert wildlife, so if you pay attention, you might spot an elusive coyote from the shoreline. 

The Peoria Sports Complex is a major hub for baseball fans. It hosts the Seattle Mariners and San Diego Padres during spring training season. The Complex includes 12 ball fields, 12 batting cages, a concession stand, and an amphitheater. 

While at the Complex, visit the P83 Entertainment District, where locals catch the latest movie releases, try a virtual shooting range, shop at unique retailers, and select from multiple dining options. Other attractions in P83 include an ice skating rink, the Arizona Broadway Theater, and walking trails.

Want to find a cool place to catch happy hour? Old Town Peoria is undergoing a Renaissance, redeveloping with quaint shops, public art installations, and trendy eateries while preserving its old Western architecture. It has a park with an outdoor interactive music display, a center for performing arts, and a community center.

What areas are near Peoria, AZ?

Peoria is part of the Phoenix metro, with the downtown about 14 miles away to the southeast on Highway 60. Its immediate neighbors are Glendale to the south and Sun City to the west. The Luke Air Force Base is located 15 minutes west, and Scottsdale is 30-45 minutes east, depending on traffic.

The city’s easy accessibility to Phoenix via Loop 101 makes it an ideal spot for commuters who want a suburban lifestyle with plenty of perks. 

When you buy a home in Peoria, you not only have the city’s selection of parks, pools, and entertainment district but easy access to the Westgate Entertainment Complex in Glendale or the professional sporting events at Gila River Arena.

What to know about living in Peoria, AZ

With over 300 days of sunshine annually, locals take their pick on what to do. Enjoy world-class golfing, hiking on the nearby trails in the Sonoran Desert, or boating on one of Arizona’s largest reservoirs. The average high temperature is 85F degrees, and the average low is 63F. However, be ready for summer days to exceed 100F for weeks and winter lows to plunge below freezing.

For families, Peoria Unified School District is one of Arizona’s largest unified school districts. More than 36,000 students attend one of its 34 elementary schools, seven high schools, and one non-traditional high school. There are two more school districts inside Peoria’s city borders. 

Peoria is proud to have four independently and nationally accredited city services: public works, fire, police, and parks & recreation. Its government is committed to providing exceptional services. 

If the Peoria lifestyle sounds right, why not see what’s available today in Peoria real estate?