The typical owner-occupied home in Peoria is worth about $463,600, 18% above the Arizona median of $394,500 and 39% above the national median of $332,700. Owners pay a median $2,160 a year in property taxes, about 0.47% of their home's value, close to the Arizona rate of 0.48%. The median household earns $95,815 a year, so the median home costs 4.8 times the median income (4.9 times for Arizona). 76% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Peoria at a glance
| Peoria | Arizona | U.S. | |
|---|---|---|---|
| Median home value | $463,600 | $394,500 | $332,700 |
| Median property tax paid per year | $2,160 | $1,879 | $3,119 |
| Property tax as a share of value | 0.47% | 0.48% | 0.94% |
| Median household income | $95,815 | $79,964 | $80,734 |
| Homes lived in by their owners | 76% | 67% | 65% |
| Owner homes with a mortgage | 68% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $1,958 | $1,803 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 20.5% | 21.0% |
| Median rent | $1,843 | $1,543 | $1,413 |
| Rent as a share of renters' income | 33.8% | 30.8% | 30.6% |
| Median year homes were built | 1999 | 1992 | 1980 |
| Vacant homes | 6.7% | 10.5% | 10.1% |
| Population | 196,906 | 7,378,838 | 334,922,499 |
What a typical home costs per month in Peoria
At this week's average 30-year rate of 7.11%, buying the median Peoria home of $463,600 with 20% down costs about $2,870 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,642, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $122,986 for the 20%-down payment. That payment is 36% of the median Peoria household income of $95,815; at that income and 20% down, the 28% guideline points to a home of about $361,000.
The median rent here is $1,843 a month, so owning the median home costs about $1,027 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $92,720 |
|---|---|
| Loan amount | $370,880 |
| Principal and interest | $2,495 |
| Property taxes (0.47% a year) | $182 |
| Homeowners insurance (our estimate, 0.5% a year) | $193 |
| PMI | $0 |
| Total per month | $2,870 |
Change the numbers in the calculator
| Down payment | $16,226 |
|---|---|
| Loan amount | $455,203 |
| Principal and interest | $3,062 |
| Property taxes (0.47% a year) | $182 |
| Homeowners insurance (our estimate, 0.5% a year) | $193 |
| FHA mortgage insurance | $205 |
| Total per month | $3,642 |
Change the numbers in the calculator
Questions about home buying in Peoria
What is the median home value in Peoria?
About $463,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Peoria?
Homeowners pay a median $2,160 a year, which is about 0.47% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Peoria?
For the median home with 20% down at 7.11%, the payment is about $2,870 a month. Keeping that under 28% of gross income takes about $122,986 a year.
More about Peoria
- Mortgage Refinance in Peoria
- Debt Relief in Peoria
- Home Equity Loans in Peoria
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data