LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,228
Monthly Cash Flow
$107
Principal + Equity
$554
Annual Total Gain
$7,925
Cash on Cash
3.98%
Net ROI %
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Cities to Live in America
#109out of 229 markets
Most Diverse Cities in America
#75out of 229 markets
Cities with the Lowest Cost of Living in America
#21out of 229 markets
B-
Public School
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Peoria, IL.
In Peoria, IL, short term rentals are regulated by the city's zoning code. Investors looking to purchase a property for short term rental purposes should be aware of the following regulations:
1. Zoning restrictions: Peoria has specific zoning regulations that dictate where short term rentals are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
2. Licensing requirements: Short term rental hosts in Peoria are required to obtain a license from the city in order to operate legally. This license may come with certain requirements, such as safety inspections or insurance coverage.
3. Occupancy limits: Peoria may have restrictions on the number of guests allowed to stay in a short term rental property at any given time. Investors should be aware of these limits and ensure that they comply with them.
4. Tax obligations: Short term rental hosts in Peoria are required to collect and remit certain taxes, such as the hotel/motel tax, on their rental income. Investors should be aware of these tax obligations and factor them into their financial planning.
5. Noise and nuisance regulations: Peoria may have regulations in place to address noise and other nuisances caused by short term rental properties. Investors should be aware of these regulations and take steps to ensure that their property does not cause disturbances to neighbors.
Overall, investors considering purchasing a property for short term rental purposes in Peoria, IL should thoroughly research and understand the local regulations governing this type of rental activity. Failure to comply with these regulations could result in fines or other penalties, so it is important to be informed before making an investment in this market.
Market Trends Over Time
Explore 25 years of market data for Peoria, IL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Peoria, IL.
The LTR Genie Score of Peoria, IL is 65 and STR Genie Score is 80, indicating a moderate score for long-term rental and a high score for short-term rental. The moderate LTR Genie Score can be attributed to the stagnant LTR rent growth rate of 0.0% and the 1-Year Price Appreciation Forecast of 2.36%. On the other hand, the high STR Genie Score is likely due to the strong STR Net ROI of 29.43% and the high STR Occupancy rate of 67.74%.
Peoria, IL is a city located in central Illinois known for its diverse economy, including healthcare, manufacturing, and education sectors. The city offers a mix of urban amenities and suburban charm, making it an attractive location for real estate investors.
Based on the metrics provided, Peoria, IL seems to be more attractive for short-term rental investment due to the high STR Genie Score and strong metrics such as STR Net ROI and occupancy rate. However, investors should also consider the potential for long-term rental investment, as the LTR Net ROI is also favorable at 24.57%. Overall, Peoria, IL presents opportunities for both short-term and long-term rental investments, making it a potentially lucrative market for real estate investors.
LTR Genie Score 93
$110,000
🛏 4 Beds🛁 4.0000 Baths🏙 2,695 sqft.🏠 SINGLE FAMILY
