Peoria, IL

Yes — everyday expenses in Peoria run about 24% below the US average (Cost Index: 76). Housing is especially affordable: the median home is valued around $149,500, compared to the $303,400 national median. Monthly rent is typically around $951, versus $1,348 nationally.

Start with housing. Typical monthly rent is $951, while local median household income is $58,716. That implies a rent-burden proxy of about 19% before utilities and other costs. For a specific job offer, filing status, or take-home pay scenario, use salary.city.

Illinois has a progressive state income tax with a top rate of 4.95%. The effective property tax rate is 2.07%. On a home worth $149,500, that translates to roughly $3,095 per year in property taxes. Sales tax (state + local) averages around 8.82% on everyday purchases.

The typical monthly rent in Peoria is around $951. That's roughly 29% lower than the $1,348 national median. For comparison, the median home value here is $149,500, so buyers should also factor in mortgage payments, property taxes, and insurance.

The median home in Peoria is valued at $149,500. With 20% down and a 6.5% mortgage rate, you'd be looking at roughly $756/month for principal and interest alone — before property taxes and insurance. About 58% of residents here own their homes.

Grocery prices in Peoria 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.

Peoria is a mid-sized city with a population of about 112,126. The median age of residents is 35.8, which is close to the national median. The local poverty rate is 19.97%, above the national average of 12.4%.