Chicago vs Peoria
Chicago, IL · Peoria, IL
Peoria is 26% cheaper than Chicago overall.
Home Price
Chicago: $315,000
Peoria: $155,000
Monthly Rent
Chicago: $2,288/mo
Peoria: $800/mo
COL Index
Chicago: 114
Peoria: 84
Median Income
Chicago: $70,100
Peoria: $57,800
Side-by-Side Comparison
Median Home Price
Monthly Rent (Median)
Median Household Income
Property Tax Rate
Cost of Living Index
100 = national average
Avg. Commute
Unemployment Rate
Median Age
What This Means For You
Buying Power
A $100,000 salary in Chicago has the same purchasing power as $73,684 in Peoria — based on each city's cost of living index.
Housing
Homes in Peoria cost 51% more (-$160,000 extra). Expect a larger mortgage and down payment.
Renting
Renting in Peoria saves you $1,488/month — $17,856 per year. Median rent: $2,288/mo in Chicago vs $800/mo in Peoria.
Property Taxes
On a median-priced home, Chicago owners pay roughly $6,615/year in property taxes vs $3,410/year in Peoria. Rates are comparable.
Local Earnings
Median household income is $70,100 in Chicago and $57,800 in Peoria. Peoria residents earn 18% more — but remember to factor in cost of living.
Daily Commute
Average commute is 31 minutes in Chicago vs 20 minutes in Peoria. Over a year, that's 5500 extra minutes (92 hours) of commuting in Chicago.
Salary Equivalence
To maintain the same lifestyle when moving from Chicago to Peoria, here's the salary you'd need:
| Salary in Chicago | Equivalent in Peoria | Difference |
|---|---|---|
| $50,000 | $36,842 | -$13,158 |
| $75,000 | $55,263 | -$19,737 |
| $100,000 | $73,684 | -$26,316 |
| $150,000 | $110,526 | -$39,474 |
| $200,000 | $147,368 | -$52,632 |
* Calculated using cost of living indices (national average = 100). Does not account for state income tax differences.
Run the Numbers
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Rent vs Buy
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Cost of Living
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Property Tax Calculator
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Chicago vs Peoria: Common Questions
Is Chicago or Peoria cheaper to live in?
Based on cost of living indices, Peoria is cheaper overall. Chicago has a COL index of 114 while Peoria scores 84 (national average = 100).
How do home prices compare between Chicago and Peoria?
The median home price in Chicago is $315,000 vs $155,000 in Peoria — a difference of $160,000 (51%).
What salary do I need in Peoria to match my Chicago income?
Use the salary equivalence table above. For example, a $100K salary in Chicago is equivalent to $73,684 in Peoria in terms of purchasing power.
Which city has lower property taxes?
Chicago has a lower property tax rate (2.1% vs 2.2%). On a median-priced home, that means paying $3,410/year vs $6,615/year.
Cost of living data sourced from Council for Community and Economic Research (C2ER) Cost of Living Index, U.S. Census Bureau American Community Survey, and Zillow Research. Tax rates from Tax Foundation and state revenue agencies. Last updated: March 2025.