| Index | Peoria | Illinois | National |
| Cost of living | 93 | 98 | 100 |
| Groceries | 97 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 76 | 95 | 100 |
| Transportation | 101 | 101 | 100 |
| Utilities | 103 | 99 | 100 |
| Lifestyle & Entertainment | 101 | 100 | 100 |
| Household Items | 100 | 100 | 100 |
| Education & Childcare | 101 | 100 | 100 |
Understanding the cost of living in Peoria can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Peoria cost of living index is 93, which is 7% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Peoria aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Peoria residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Locals have the inside scoop on their city. So, we polled 5 residents in Peoria to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 60% find it reasonable with decreasing prices, but 40% think it's quite pricey, with prices that continue to rise.
Is Peoria affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Peoria, for instance, where the median home price falls 28.3% lower than the national average, and monthly rent rates are 14.4% lower than usual. Additionally, median income levels contribute to the equation, with Peoria flaunting a median household income of $77,104, 5.2% lower than the national norm.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Peoria, the groceries index registers 2.6% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Peoria, the housing index stands at 24.1% lower than the national average.
The Peoria cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $105,158 | $8,763 | $2,454 | $3,155 |
| Renters | $40,665 | $3,389 | $949 | $1,220 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Mapleton, IL | 345 | 83 | 16.6% |
| Creve Coeur, IL | 5,261 | 85 | 15.3% |
| Kingston Mines, IL | 246 | 85 | 15.2% |
| Glasford, IL | 921 | 86 | 14.3% |
| South Pekin, IL | 1,089 | 86 | 13.6% |
| Peoria, IL | 115,301 | 93 | 7.1% |
| City | Population | Cost of Living Index | National Avg. |
| Elgin, IL | 115,336 | 104 | 4.3% |
| Antioch, CA | 115,196 | 149 | 49.3% |
| Manchester, NH | 114,918 | 111 | 11.1% |
| Miami Gardens, FL | 114,672 | 112 | 11.8% |
| Everett, WA | 114,503 | 133 | 33.2% |
| Peoria, IL | 115,301 | 93 | 7.1% |
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