Peoria Real Estate and Rental Market Update
June 2026
The Peoria housing market remained balanced in June as both the sales and rental markets continued to show healthy activity. Home inventory declined compared to last year, homes sold faster than they did a year ago, and rental demand remained strong despite a seasonal increase in available listings.
Sales Market Highlights
- Active Listings: 894 (3.1% decrease YoY)
- Median Sold Price: $250.78 per SF (4.0% decrease YoY)
- Average Days on Market: 57 days (7.3% decrease YoY)
- 30-Year Mortgage Rate: 6.49%
Home inventory continued to tighten compared to last year, giving sellers slightly less competition. While price per square foot remains below 2025 levels, homes are selling more quickly than they were a year ago, indicating that motivated buyers are still active when homes are priced appropriately.
Rental Market Highlights
- Active Rental Listings: 221 (0.5% decrease YoY)
- Median Rent: $1.24 per SF (1.6% increase YoY)
- Median Days on Market: 28 days (5.1% decrease YoY)
The rental market continues to perform well in Peoria. Rental inventory remains essentially unchanged from last year, while rents have moved slightly higher and homes are leasing faster. These trends suggest tenant demand remains healthy heading into the second half of 2026.
Key Takeaways
- 📉 Home inventory declined 3.1% from last year.
- 🏠 Home values softened slightly, with the median sold price per square foot down 4.0% year over year.
- ⚡ Homes sold faster, averaging 57 days on market, a 7.3% improvement from last year.
- 💰 Mortgage rates remained relatively stable at 6.49%.
- 📈 Rental rates increased 1.6% year over year, a positive sign for landlords.
- 🔑 Rental homes leased in just 28 days, reflecting continued tenant demand.
Overall Outlook
Peoria continues to offer a stable environment for both homeowners and real estate investors. Buyers have more opportunities than they did during the peak seller’s market, while declining sales inventory and faster selling times indicate demand remains steady. Peoria rental property owners are also benefiting from rising rents and quicker lease-up times, making Peoria one of the stronger rental markets in the northwest Valley. As we move through the summer, expect demand to remain healthy for well-maintained, competitively priced properties.
May 2026
Sales Market
Active Listings: 959 (-1.9% YoY)
→ Inventory has remained remarkably balanced, with available homes now slightly below last year’s levels after peaking earlier this spring.
Median Sold $/SF: $254.42 (-1.8% YoY)
→ Home prices remain just below last year’s levels, indicating the market has largely stabilized after the price adjustments seen throughout 2025.
Average Days on Market: 56 (+9.8% YoY)
→ Homes are taking slightly longer to sell than they did a year ago, suggesting buyers remain selective despite balanced inventory.
30-Year Mortgage Rate: 6.52%
→ Mortgage rates increased in May, continuing to impact affordability and temper buyer demand.
Rental Market
Active Listings: 164 (-17.2% YoY)
→ Rental inventory has tightened significantly compared to last year, creating fewer options for prospective renters.
Median Rented $/SF: $1.28 (-0.4% YoY)
→ Rent prices are essentially flat year-over-year, demonstrating impressive stability despite changing market conditions.
Median Days on Market: 25 (-28.6% YoY)
→ Rentals are leasing substantially faster than they were a year ago, pointing to strengthening renter demand as the summer leasing season begins.
Key Takeaways
- Sales inventory has remained balanced and is now slightly below last year’s levels.
- Home prices continue to stabilize, with only modest year-over-year changes.
- Buyers remain selective, leading to slightly longer selling times.
- Rental inventory continues to tighten across the market.
- Rent prices have stabilized after months of gradual declines.
- Faster leasing activity signals strengthening demand in the rental market despite higher mortgage rates.
Overall
Peoria’s May housing market remains one of the Valley’s healthiest and most balanced. The sales market is characterized by stable inventory, modest price adjustments, and steady buyer activity despite elevated mortgage rates. The rental market has strengthened considerably, with fewer available homes, nearly unchanged rental pricing, and significantly faster leasing activity. Overall, Peoria continues to demonstrate resilient market fundamentals, with improving rental demand and a sales market that appears well positioned heading into the summer months.
April 2026
Sales Market
Active Listings: 943 (+1.1% YoY)
→ Inventory is essentially flat compared to last year, giving buyers a healthy number of options without the oversupply concerns seen in some neighboring markets.
Median Sold $/SF: $258.77 (-1.8% YoY)
→ Home prices remain slightly below last year, but the decline has narrowed significantly, suggesting improving pricing stability.
Average Days on Market: 47 (-9.6% YoY)
→ Homes are selling faster than last year, a strong signal that buyer demand has improved meaningfully this spring.
30-Year Mortgage Rate: 6.35%
→ Mortgage rates improved from March, helping provide a modest affordability boost for buyers.
Rental Market
Active Listings: 147 (-6.4% YoY)
→ Rental inventory remains below last year’s levels, keeping supply somewhat tighter for renters.
Median Rented $/SF: $1.22 (-4.7% YoY)
→ Rental pricing remains below last year, suggesting landlords are still competing on price despite tighter inventory.
Median Days on Market: 34 (+9.7% YoY)
→ Rentals are taking slightly longer to lease than last year, indicating somewhat softer renter demand.
Key Takeaways
- Sales inventory remains balanced with no major supply imbalance
- Home prices are stabilizing after earlier softness
- Faster selling timelines point to stronger buyer activity
- Rental inventory remains somewhat constrained
- Rental pricing is still soft, and leasing activity remains slower than last year
- Lower mortgage rates may continue supporting buyer momentum heading into late spring
Overall
Peoria’s April market is showing encouraging improvement, particularly on the sales side. Inventory remains balanced, pricing appears to be stabilizing, and faster selling times suggest buyers are becoming more active. The rental market remains a bit softer, with modestly lower rents and slightly slower leasing activity, but tighter inventory is helping keep conditions relatively balanced. Overall, Peoria looks increasingly healthy as the spring market continues to strengthen.
