Peoria, Arizona

$266,500 is the house cost median in the city of Peoria, Arizona. Peoria value of houses has risen quite a bit in the last year. And that is 7.1 percent. 2.6 percent is the predicted rate of increase in house values for the following year.

The per square foot Peoria list cost median is $148. The metro area of Phoenix has a higher per square foot list cost median of $156.

In Peoria, $319,900 is the presently list cost median of houses. For houses that have sold, $273,300 is the cost median.

Peoria, Arizona has a rent cost median of $1,495. The metro area of Phoenix has a lower rent cost median of $1,475.

Foreclosures are an important factor when it comes to the real estate economy. The way it works is that the higher the foreclosure rate, the lower the value of homes for any particular area.

When it comes to Peoria, for every 10,000 houses, 0.3 houses go through foreclosure. The Phoenix Metro area has a higher foreclosure rate of 0.5 houses going through foreclosure per 10,000 houses. Our nation has an even higher foreclosure rate of 1.6 houses per 10,000 houses.

There is a first step that occurs in the foreclosure process. It is mortgage delinquency. Mortgage delinquency occurs when a house owner misses making a monthly payment on their home mortgage.

0.9 percent is the percentage in Peoria of mortgage delinquencies. Nationally there is a higher mortgage delinquency rate which is 1.6 percent.

Due to the negative effects of the 2008 recession, the value of houses fell a greater amount than 20 percent. As a result, quite a few house owners are currently underwater concerning their house mortgage.

The definition of being underwater on a mortgage is that the house owner owes more on their mortgage debt than the value of their house.10.2 percent of Peoria, Arizona owners of houses are experiencing being underwater regarding their mortgage. The metro area of Phoenix has a higher underwater rate of 10.6 percent.

The median annual household income in Peoria Arizona is $63,025.