Data Proves that the Greater Peoria Illinois Area Delivers More Living Space for the Dollar
PEORIA, Ill., Oct. 27, 2021 /PRNewswire/ -- Realtor.com ranks the Greater Peoria Illinois area as one of the most affordable metropolitan areas for homebuyers.
Homeowners around the country are taking notice of its affordable cost of living compared with other metropolitan areas in the United States. According to Realtor.com, the Greater Peoria area ranks second in the nation for economical real estate options with a median home value of about $119,900. Realtor.com reported the national median value in August 2021 was $380,000, an increase of more than 8.6% from the previous year.
"We often associate big-city amenities with big-city price tags, but in the Greater Peoria area, you find you do not have to sacrifice quality of life for cost of living," said J.D. Dalfonso, President and CEO of the Peoria Area Convention and Visitors Bureau (Discover Peoria). "Here, homeowners can get more for their dollar. People from more expensive urban areas are selecting the Greater Peoria area as a desirable location to live."
Those figures are reflected in the cost of living of the Peoria metro area compared to other major metro areas around the country, including Seattle, the Bay Area, and Chicago.
One former Seattle resident, Mariela Munguia, told the (Peoria, IL) Journal Star she was shocked to see such affordable home values compared to her hometown — and so were her friends.
"I sent the listing to one of my friends in Seattle, and her mom said that house would be like $580,000 in Seattle," Munguia told The Journal Star.
The quality of life in Peoria and surrounding communities goes far beyond dollars and cents. From bustling downtowns to charming neighborhoods to expansive rural properties, the Greater Peoria area features a wide variety of housing options to suit all lifestyles and income brackets, allowing all who live here to create the life that best suits them. A revitalized Warehouse District adjacent to Downtown Peoria provides uncommon housing options unlike any other in Central Illinois, while 19th, 20th, and 21st century homes are plentiful throughout the area. Additionally, Peoria was recently featured on the show "Cheap Old Houses" on HGTV. These factors contribute to a diverse population benefitting from the many opportunities available in the Greater Peoria area.
The more than 443,000 residents here also enjoy the big city amenities you'd find in major markets — such as independently owned shops and boutiques — alongside astonishing natural vistas fostered by a welcoming, affirming community with exceptional healthcare, accessibility to major markets, and opportunities for education and skilled labor training. Additionally, entertainment opportunities are vast, starting with the Illinois River and other outdoor recreation areas in addition to a lively culinary, arts, music, and theatre scene.
"This area truly offers a tremendous value," said Chris Setti, CEO of the Greater Peoria EDC. "When people take a good look at the Greater Peoria area, they'll see an area full of opportunity to build whatever kind of life they want — whether it's in the city, the country, or any of the surrounding small communities. Whatever life they envision, they can make it happen in the Greater Peoria area."
For more information: MacKenzie Taylor, Strategic Communications Manager, Peoria Area Convention and Visitors Bureau. Email: [email protected] // 309-676-3287.
SOURCE Greater Peoria 2030
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