Loop 303 Extension Begins in Goodyear
Arizona has started construction on a $613 million Loop 303 extension in Goodyear, expanding one of the Valley’s most important transportation corridors and preparing the
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Peoria remained one of the more stable West Valley housing markets in August.
The sales market was essentially flat on pricing, but inventory declined and homes sold significantly faster than they did a year ago.
The rental market looks even stronger. Available rentals are down sharply, rents remain slightly above last year, and homes are leasing faster.
For Peoria property owners, the current market is healthier than many neighboring West Valley communities, but future development remains important to watch.
Peoria’s sales market has become much more balanced as 2026 has progressed.
Inventory started the year more than 10% above the previous year, but by August it had moved to 4.7% below last year.
Pricing has also stabilized.
Median sold price per square foot fell more than 6% year over year in January and 7.5% in February. By July, pricing had turned slightly positive, and August was essentially flat.
That is a meaningful improvement.
The strongest August signal is selling time.
Homes averaged 64 days on market, almost unchanged from July but more than 20% faster than last August.
Compared with Buckeye, Surprise, and Maricopa, Peoria is showing much less pricing pressure.
Peoria continues to grow, but its current single-family construction pipeline is less aggressive than in markets such as Buckeye or Surprise.
That gives existing homeowners an advantage.
Resale sellers still compete with new construction, especially in north Peoria, but the amount of builder competition is lower than in the fastest-growing exurbs.
One major exception is the long-term development pipeline.
Home Ladder previously covered the 5,300-acre Saddleback master-planned community in Peoria, which is planned to include thousands of homes and additional multifamily housing.
That supply will take years to develop, but it is an important long-term factor for both resale owners and investors.
Peoria’s rental market remains one of the stronger markets we track.
Available rental inventory is down nearly 28% from last year, one of the largest declines among the major Phoenix-area submarkets.
The trend has strengthened throughout the summer.
Peoria had 221 active rentals in June, 198 in July, and just 185 in August.
Rent growth has also remained positive for three consecutive months.
Median rent reached $1.24 per square foot in June, $1.26 in July, and stayed at $1.26 in August.
That is not explosive rent growth, but it represents a meaningful stabilization after rents were negative through most of the first half of the year.
Median rental days on market stayed at 30 days from July to August.
That is notable because many Phoenix-area markets experienced a meaningful jump in leasing time as the summer moving season ended.
Peoria did not.
Homes are also leasing more than 14% faster than they did last year.
That combination—less inventory, modest rent growth, and faster leasing—makes Peoria one of the cleaner landlord-friendly markets in the West Valley right now.
Today’s rental market is tight, but new multifamily development could create additional competition over time.
Peoria has seen an increase in multifamily permitting during 2026, which means the current shortage of available rentals should not automatically be projected indefinitely.
At the same time, employment growth could help absorb some of that new housing.
Peoria continues to position itself as a major advanced-manufacturing and semiconductor employment center.
We previously covered the Peoria Innovation Core, a planned 6,700-acre employment and development district near Loop 303 designed to attract advanced manufacturing, technology, and related investment.
The area also benefits from major semiconductor investment, including Amkor’s expanding presence in Peoria.
More high-wage employment should support both owner-occupied and rental housing demand over the long term.
Water availability has been a major concern across the West Valley.
The EPCOR 100-year water supply designation covers portions of north Peoria and provides additional certainty for future residential development.
That is positive for Peoria’s long-term growth prospects, although additional housing development will also create more competition for existing properties.
Peoria remains one of the more balanced housing markets in the West Valley.
The sales market has improved significantly from earlier in 2026. Prices have stabilized, inventory is lower, and homes are moving faster.
The rental market is even healthier.
Landlords face substantially less competition than last year, rent growth has returned, and leasing velocity remains strong.
The main long-term question is supply.
Major developments like Saddleback and additional multifamily construction will add housing over time, while the Peoria Innovation Core and semiconductor investment should create additional employment and demand.
For now, Peoria offers one of the better combinations of housing stability and rental fundamentals among the markets we track.
For owners considering Peoria property management, Home Ladder can provide a free rental analysis comparing your property with current listings and recently leased homes in the surrounding area.
Peoria’s housing market remained stable in July, with home prices holding near last year’s levels despite elevated mortgage rates.
The rental market continues to look healthy, with fewer available homes and modest rent growth. For Peoria property owners and investors, the market remains relatively balanced on the sales side and increasingly favorable on the rental side.
Peoria’s sales market remains balanced.
Inventory and home prices are both nearly unchanged from last year, suggesting the market has found a relatively stable level.
Homes are taking slightly longer to sell, which shows buyers still have time to be selective. With mortgage rates at 6.79%, affordability continues to limit how quickly demand can accelerate.
For sellers, realistic pricing remains important, but Peoria has avoided the larger price declines seen in several other West Valley markets.
Peoria’s rental market remains healthy.
Available rental inventory is significantly lower than last year, reducing competition among landlords.
Rents are also slightly higher, while leasing times remain essentially unchanged. That combination suggests steady tenant demand without signs of an overheated market.
For Peoria property management, current conditions favor maintaining competitive rents while taking advantage of tighter rental supply.
Much of Peoria’s long-term growth is focused along the Loop 303 corridor.
We previously covered the city’s Peoria Innovation Core, a large master-planned area intended to bring advanced manufacturing, employment, commercial development, and future housing to north Peoria.
Semiconductor investment is also becoming an important part of the city’s employment story. Amkor’s major Peoria semiconductor project is expected to add high-paying technology jobs and support additional development in the surrounding area.
Housing growth is following that investment. The 5,300-acre Saddleback master-planned community is planned for thousands of homes near Lake Pleasant and the growing north Peoria employment corridor.
Water availability is also important for future construction. EPCOR’s 100-year water supply designation covers portions of north Peoria and provides greater certainty for future residential development.
Peoria continues to look like one of the steadier West Valley housing markets.
The sales market is neither strongly favoring buyers nor sellers, while the rental market offers healthier fundamentals for landlords through lower inventory and modest rent growth.
Long term, continued investment around Loop 303, new employment centers, and residential development should support housing demand throughout north Peoria.
If you own a rental property in Peoria, Home Ladder’s Peoria property management team can provide a free rental analysis to help determine the right rental price for today’s market.