Cost of Living in Peoria, Illinois
In Peoria, the median household income is $59,410 and the median gross rent is $1,005/mo, with a median home value of $156,200. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $59,410
- Median gross rent
- $1,005/mo
- Median home value
- $156,200
- Population
- 112,169
How Peoria compares to the Illinois average
| Measure | Peoria, IL | Illinois statewide | Difference |
|---|---|---|---|
| Median household income | $59,410 | $83,390 | -28.8% |
| Median gross rent (monthly) | $1,005 | $1,274 | -21.1% |
| Median home value | $156,200 | $263,300 | -40.7% |
Statewide, Illinois prices average 100.0 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Peoria
- Salary needed for median rent
- $40,200
- Rent burden at median income
- 20.3%
- Est. affordable home price
- $216,724
So that $1,005/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Peoria is $156,200 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Illinois cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.