Peoria, Arizona Short-Term Rental Market Analysis
The short-term rental (STR) market in Peoria, Arizona, is an evolving landscape characterized by 794 active listings, an average daily rate (ADR) of $253.15, and a robust occupancy rate of 70%. Notably, the average monthly revenue per property stands at $3,735, illustrating the market's potential for profitability.
Peoria, Arizona Short-Term Rental Market Overview
Visitor Profile
Peoria, Arizona, attracts approximately 1.2 million visitors annually, contributing significantly to the local economy with an estimated impact of over $90 million. The visitor demographic is diverse, with families making up about 35%, retirees at 25%, and young adults comprising 30%. The primary reasons for visiting include outdoor recreation, cultural events, and family gatherings. With a growing reputation for its parks and recreational facilities, Peoria is becoming a favored destination for those seeking both relaxation and adventure. The economic benefits of tourism are evident, as increased visitor spending supports local businesses and creates jobs.
In terms of visitor statistics, Peoria sees a steady influx of tourists, particularly during the winter months, which are considered peak season due to the mild climate. The average length of stay for visitors is approximately three to four days, allowing ample time to explore attractions such as Lake Pleasant Regional Park and the Peoria Sports Complex. According to the tourism bureau (https://www.visitarizona.com/places/cities/peoria), a significant portion of visitors engage in outdoor activities, with hiking, boating, and golfing being particularly popular. Additionally, cultural events and festivals draw crowds year-round, enhancing the city’s appeal. The demographic breakdown indicates a balanced mix of age groups, with a notable increase in younger visitors seeking unique experiences. As Peoria continues to develop its tourism infrastructure, the potential for growth remains strong, making it an attractive market for STR operators. For more detailed information, visit the official tourism site at https://www.visitarizona.com/places/cities/peoria.
Top Attractions
Peoria, Arizona, is a vibrant city that offers a delightful blend of outdoor adventures, cultural experiences, and family-friendly activities, making it a prime destination for visitors seeking diverse attractions. Among its highlights, the stunning Lake Pleasant Regional Park invites nature lovers to explore its expansive waters and scenic trails, while the Peoria Sports Complex, the spring training home for Major League Baseball teams, provides an exciting atmosphere for sports enthusiasts. With a variety of attractions to choose from, Peoria promises memorable experiences for everyone, whether you’re looking to relax in nature or immerse yourself in local culture.
One of the top attractions in Peoria is Lake Pleasant Regional Park, a stunning outdoor oasis that spans over 10,000 acres. Visitors can enjoy activities such as boating, fishing, hiking, and picnicking while taking in breathtaking views of the surrounding desert landscape. For more information, check out the official site at https://www.visitarizona.com/places/cities/peoria. Another must-see is the Peoria Sports Complex, which serves as a premier venue for baseball fans. This complex features two stadiums and numerous practice fields, making it an ideal spot to catch a game or enjoy a tour of the facilities. Families will also love the Arizona Broadway Theatre, where they can experience live performances and musicals in a cozy setting. With its engaging shows and welcoming atmosphere, it’s a fantastic way to spend an evening. Lastly, the Peoria Center for the Performing Arts offers a variety of cultural events and educational programs, enriching the community’s artistic landscape. Whether you’re exploring the great outdoors or diving into the local arts scene, Peoria attractions provide endless opportunities for fun and exploration.
Regulations
Peoria short-term rental regulations are crucial for property owners looking to navigate the local landscape of vacation rentals. In Peoria, Arizona, property owners must obtain a short-term rental permit and comply with specific regulations to operate legally. This includes adhering to zoning laws, ensuring safety standards, and fulfilling tax obligations. The city imposes a Transaction Privilege Tax (TPT) of 2.5% on rental income, which must be reported and paid to the Arizona Department of Revenue. Additionally, property owners must ensure their rentals meet safety requirements, such as having smoke detectors and carbon monoxide alarms. Understanding these regulations is essential for successful short-term rental management in Peoria.
To operate a short-term rental in Peoria, owners must first secure a short-term rental permit, as outlined in the Peoria Municipal Code (https://library.municode.com/az/peoria/codes/code_of_ordinances). This permit requires compliance with local zoning restrictions, which dictate where short-term rentals can be located. Owners are also responsible for collecting and remitting the 2.5% TPT, with deadlines for payment set by the Arizona Department of Revenue. Safety requirements include the installation of smoke detectors and carbon monoxide alarms to ensure guest safety. Failure to comply with these regulations can result in penalties, including fines and potential revocation of the rental permit. For more detailed information on the regulations governing short-term rentals in Peoria, visit the City of Peoria’s official website (https://www.peoriaaz.gov).
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Vacation Rental Market Overview for Peoria
Peoria attracts visitors with its cultural attractions and historic sites and urban amenities and entertainment. The short-term rental market here serves diverse traveler demographics, from business professionals to family vacationers.
This destination’s rental market offers unique opportunities for property investors, with comprehensive data revealing seasonal patterns and demand drivers.
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Peoria, Arizona Market Performance Trends
Short-Term Rental Market Performance Analysis for Peoria
The short-term rental market in Peoria demonstrates dynamic pricing patterns and occupancy trends that savvy property investors and managers monitor closely. This comprehensive 12-month analysis reveals seasonal variations and revenue optimization opportunities.
Market Trend Summary
Current market indicators show: mature market with optimized pricing patterns
Market data updated daily. Professional-grade analytics trusted by thousands of property managers and real estate investors.
Peoria, Arizona Rental Market Insights
10-Year Market Growth
Booking Activity
- 1-3 Months:59.7% Booked
- 4-6 Months:48.7% Booked
- 7-9 Months:46.6% Booked
- 10-12 Months:14.5% Booked
Cancellation Policies
- Flexible:26.4%
- Moderate:21.8%
- Strict:46.7%
- Super Strict:46.7%
- N/A:1.8%
Minimum Stay
- 1 Day:82
- 2 Days:208
- 3 Days:78
- 4-6 Days:27
- 7-29 Days:37
- 30+ Days:29
Short-Term Rental Regulations and Booking Patterns in Peoria
Peoria vacation rental operators navigate specific local regulations and booking patterns that shape market dynamics. Understanding minimum stay requirements, cancellation policies, and booking windows is essential for successful property management.
Market analysis reveals balanced approach between flexibility and stability. These insights help property managers optimize their listing strategies and maximize occupancy.
Local regulations and platform policies influence rental operations. StaySTRA provides comprehensive policy tracking and compliance insights.
Peoria, Arizona Housing Market Data
Home Value Trends
Market Overview
- Typical Home Value:$484,219
- Median Sale Price:$489,750
- Median List Price:$551,713
Current Inventory
- Homes For Sale:983
- New Listings:223
Detailed Market Analysis
Real Estate Market Analysis for Peoria, Arizona
The residential real estate market in Peoria, Arizona presents unique opportunities for investors and homebuyers alike. Current market dynamics show steady growth patterns in an established market with inventory levels and pricing trends that reflect broader economic conditions and local demand factors.
Key Market Factors
Important considerations for this market include: growing population trends, economic development, and lifestyle amenities These factors contribute to the overall market performance and future growth potential.
Real estate investments in Peoria, Arizona benefit from diverse property options and stable neighborhood development. Prospective buyers and investors should consider both current market conditions and long-term growth indicators when evaluating opportunities in this market.
Peoria, Arizona Rental Market Composition
Entire Place by Beds
Common Rental Amenities
Vacation Rental Property Types in Peoria
The vacation rental market in Peoria features a diverse mix of property types, from cozy studios to spacious family homes. Understanding the property composition helps investors identify market gaps and opportunities.
Market characteristics include concentration in 2-3 bedroom properties ideal for small groups. This distribution reflects local demand patterns and traveler preferences.
Premium amenities and guest ratings play a crucial role in rental performance, with data showing clear correlations between specific features and booking rates.
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