Cost of Living in Pekin, IL
Cost of Living in Pekin, IL has an overall index of 70, 30% below the U.S. baseline of 100. The typical home value is $118,200; typical monthly rent is $792; and median household income is $58,355.
Cost index: committed city housing/rent inputs and BEA 2024 metro-area price parities. Home value: Census ACS 2023 fallback place estimate. Rent: Census ACS 2023 fallback place estimate. A place-level signal, not a personal affordability decision or financial recommendation.
Rent and home prices are comparatively balanced with local income. This describes the local market, not your household.
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Frequently asked questions about Pekin
Living in Pekin
Is Pekin, IL an affordable place to live?+
Yes — everyday expenses in Pekin run about 30% below the US average (Cost Index: 70). Housing is especially affordable: the median home is valued around $118,200, compared to the $303,400 national median. Monthly rent is $792, versus $1,348 nationally.
How does Pekin fit a household housing budget?+
Start with housing. Typical monthly rent is $792, while local median household income is $58,355. That implies a rent-burden proxy of about 16% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Pekin, IL?+
Illinois uses a flat model; 4.95% is top marginal-rate context. Applying the 2.07% state-level effective owner-occupied proxy to a home worth $118,200 gives a planning estimate near $2,447 per year; it is not a city, county, parcel, or individual tax bill. State plus average local sales-tax context is around 8.82%.
How much does it cost to rent in Pekin, IL?+
The typical monthly rent in Pekin is around $792. That's roughly 41% lower than the $1,348 national median. For comparison, the median home value here is $118,200, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Pekin, IL?+
The typical home value in Pekin is $118,200. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $574/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 67% of residents here own their homes.
Are groceries and utilities expensive in Pekin?+
Grocery prices in Pekin are more affordable compared to the rest of the US (index: 94, where 100 is the national average). Utility bills (electricity, gas, water) are about typical (index: 91). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Pekin, IL like to live in?+
Pekin is a smaller city with a population of about 31,812. The median age of residents is 41.3, which is close to the national median. The local poverty rate is 13%, near the national average of 12.4%.