By Jennifer Conrad, Managing Editor
Peoria, Arizona, was once a quiet suburban retreat, but today, it’s a city on the rise. With its population growing by 5.2% since 2020, Peoria has transformed into one of the Valley’s most desirable places to live and work. In 2025, Peoria boasts a growing community of approximately 201,000 residents, all drawn by the city’s booming economy, top-notch schools, affordable living, and rich quality of life. It’s no wonder that Peoria is not just growing—it’s flourishing.
Economic Boom: Big Investments Fuel Big Opportunities
Peoria’s transformation is being driven by major investments that are reshaping its economic landscape. In 2024, the Arizona Association for Economic Development recognized the city for attracting industry giants, setting the stage for a future of growth and prosperity.
Among the standout projects is Amkor Technology’s $2 billion investment, which promises to create over 2,000 high-paying jobs. This is just one part of a broader tech boom, with TSMC’s $12 billion semiconductor plant further fueling growth. As these high-tech projects attract suppliers and expand regional operations, they are creating a ripple effect throughout the city.
So, why are so many people choosing Peoria? It’s simple. The job market is booming, housing is affordable, and there’s no shortage of recreational opportunities. The city’s low crime rate, excellent schools, and close-knit community make it an ideal place for families, retirees, and young professionals alike.
According to the Eller College of Management, Arizona’s job growth is forecasted at 2.3% for 2025, outpacing national averages. Peoria, however, is expected to surpass that, with projected growth of 3–4%. This job surge is a key driver behind Peoria’s anticipated growth in its workforce, expected to rise from 97,000 in 2024 to nearly 99,000 by 2025.
“Peoria’s economic development emphasis is positioning Peoria well for continued growth and prosperity in the next several years,” noted the city’s 2024 Comprehensive Financial Report, underscoring the city’s bright future.
A Lifestyle that Families and Outdoors Lovers Will Love
While jobs are the backbone of Peoria’s growth, it’s the lifestyle that makes people want to stay. With more than 300 sunny days a year, Peoria offers residents an outdoor haven. Families can enjoy over 570 acres of parks, 36 neighborhood parks, and more than 60 miles of trails for hiking, biking, and horseback riding.
The city boasts an excellent education system. The Peoria Unified School District serves over 36,000 students, with the addition of a new American Leadership Academy K–12 campus set to open in 2025. This expansion ensures that families have access to quality education while still enjoying an affordable cost of living.
Peoria’s housing costs are 14% below the national average, making it an attractive option for those seeking a balanced life without sacrificing access to major economic opportunities. Thanks to smart fiscal management, the city’s property tax rate remains stable at $1.44 per $100 of assessed value for FY 2025, ensuring that taxes will remain unchanged despite substantial public investment in infrastructure.
“We moved to Peoria for the schools and affordable homes. The parks and trails make it easy to enjoy family time outdoors,” shared a new resident, reflecting the sentiments of many families seeking a community-oriented lifestyle.
Safety and Community: A City That Cares
Peoria prides itself on being a safe and secure place to live. The city’s crime rates are well below the national average, with a violent crime rate of 16 and a property crime rate of 32 (the national average is 35.4). This commitment to safety, combined with strong financial backing, ensures that residents feel secure as they go about their daily lives.
Peoria’s commitment to its residents extends beyond safety. The city earned top-tier ‘AAA’ and ‘AAA’ bond ratings from Fitch Ratings and Moody’s in 2025, and the funds from the $84.6 million general obligation bond sale will support critical improvements to public safety, streets, and drainage systems—all without increasing taxes.
“We like it here—new restaurants, a nice movie theater, great neighbors, and a beautiful home,” shares a local resident, highlighting the city’s sense of community and growing vibrancy.
Real Estate: A Hot Market with Room to Grow
Peoria’s real estate market is heating up, reflecting the city’s ongoing growth. The median list price for homes is currently $589,138, and with a Market Action Index (MAI) of 37, sellers are in a strong position. Homes are on the market for an average of 76 days, with the median time to sell at 42 days—a sign of steady demand.
Despite price reductions seen in about 55% of listings, the market remains competitive, with the MAI continuing to rise, hinting at an even more seller-friendly environment in the near future.
“Peoria’s housing market is appealing because you get more for your money compared to Phoenix, and the community feels safe and connected,” explains Jaki Underwood, Realtor.
Building a Future: Infrastructure and Innovation
Looking toward the future, Peoria is making strategic investments to ensure its continued success. The $84.6 million bond-backed infrastructure projects are focused on upgrading streets, drainage systems, and public safety—all essential to maintaining Peoria’s high quality of life as the city continues to grow.
The opening of new schools like the American Leadership Academy is just one example of how Peoria is preparing a future-ready workforce, especially to support the region’s expanding semiconductor and tech sectors.
“Peoria is building a future where families can thrive, with jobs, schools, and infrastructure that keep pace with growth,” said City Manager Henry Darwin.
Why People Are Moving to Peoria
“Peoria offers a unique balance of opportunity, lifestyle, and affordability. The job market is booming, and it’s still affordable compared to other cities.
Peoria’s Future: Bright and Now
Peoria is no longer just a suburb—it’s becoming a major player in Arizona’s economic and cultural landscape. With a thriving economy, stable finances, outstanding schools, and a vibrant community spirit, the city is poised for continued success.
Peoria’s best days are still ahead, and for those looking to build a future in Arizona, it’s clear: Peoria offers not just a place to live, but a place to thrive.
