Cost of Living in Peoria, IL
Population 112,126 · Illinois · Data vintage 2023
(100 = US avg)
Peoria lands reasonably close to national benchmarks on most cost indicators, with a median home value of $150,000 — 51% below the US figure. That makes it a useful reference point for comparing with more extreme markets in Illinois. At 7.8%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Peoria
The median home value in Peoria is $149,500 — 51% below the national median of $305,000. Median rent runs $951/month, 28% lower than the national median of $1,314/month. The median household income of $58,716/year is 21% lower than the US median of $74,580. The local unemployment rate is 7.8%, above the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Peoria has a cost of living index of 58 versus the US average of 100, meaning it is 42% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Peoria, IL?
Peoria has a cost index of 58 (100 = national average). It is 42% below the national average.
What is average rent in Peoria, IL?
The median gross rent in Peoria is $951 per month based on 2023 Census data.
What is the average home price in Peoria?
The median home value in Peoria is $149,500 according to Zillow and Census data.
What is the median income in Peoria?
The median household income in Peoria is $58,716 per year (2023 ACS 5-year estimates).
What is the sales tax in Peoria, IL?
The combined state and local sales tax rate in Peoria is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Peoria, IL affordable?
Yes, Peoria is generally considered affordable, with a cost of living index of 58 — about 42% below the US national average of 100.
Peoria at a Glance
- Population
- 112,126
- Median Income
- $58,716
- Home Value
- $149,500
- Median Rent
- $951/mo
- Unemployment
- 7.8%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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