Last week, we took a look at the Glendale rental market and the subdivision of Village Rose.
This week, we will take a look at the neighboring community of Peoria,AZ and the small subdivision of Crystal Creek.
Crystal Creek subdivision is located south of Grand Avenue and 83rd avenue.
All figures are taken from closed rental data from the MLS from 2013-2015.
We will focus on the rental homes that rented between January and September and break down the resulting rental data by year.The rental property data we look at from Peoria and Crystal Creek focuses on closed, unfurnished rental properties.
The rental market numbers in Peoria show growth in rental price and a steady drop in Peoria rental home inventory from 2013 to 2015. The chart below displays the details.
Overall, average rental property prices in both Peoria and Crystal Creek have increased during this 2013-2015 time period.
Although our comparison sample size for Crystal cove is small, Average and Median days on market have both gone down here in over the last three years. We recently leased a property in Crystal Cove in less than a week.
However, the average rental home price gain in Peoria, AZ is only about 5%. This is much less than the average home price gain Valleywide during the same time frame. For details on Phoenix area rental market gains in 2015 check out our post from September 21.
The rental market inventory decrease is 27% in Peoria, AZ from 2013-2015 according to our Peoria rental market numbers chart.