Cost of Living Comparison for Peoria, IL
Updated 2026 · Local data pre-filled
Peoria's cost of living index is 84 — 16% cheaper than the national average. This factors in housing, groceries, utilities, transportation, and healthcare. Use this calculator to see how your purchasing power would change if you moved to another city.
✓ Calculator below is pre-filled with Peoria local data
How Peoria Compares to the National Average
Understanding how Peoria stacks up helps you calibrate your financial planning.
| Metric | Peoria, IL | US Average | Difference |
|---|---|---|---|
| Median Home Price | $155,000 | $420,800 | -63.2% |
| Median Monthly Rent | $800 | $1,713 | -53.3% |
| Median Household Income | $57,800 | $74,580 | -22.5% |
| Property Tax Rate | 2.20% | 1.10% | +100.0% |
| Cost of Living Index | 84 | 100 | -16.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Peoria Financial Snapshot
- Population (Metro)
- 370,000
- Unemployment
- 5.0%
- Avg Commute
- 20 min
- Median Age
- 37.8
- Price-to-Rent Ratio
- 16.1x
- Annual Property Tax
- $3,410
Frequently Asked Questions — Peoria
What is the median home price in Peoria, IL?
The median home price in Peoria is $155,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Peoria?
Median monthly rent in Peoria is $800. That works out to $9,600/year, or 17% of the median household income — within the commonly recommended 30% of income guideline.
Is Peoria affordable?
Peoria's cost of living index is 84 vs. the national average of 100. With a median household income of $57,800/year and a median home price of $155,000, the price-to-income ratio is 2.7x. Peoria remains relatively affordable compared to many US metros.
What is the property tax rate in Peoria?
The effective property tax rate in Peoria is 2.20% of assessed value. On the median home of $155,000, that's roughly $3,410/year ($284/month).