Peoria, IL Relocation Guide (2026)
Cost of living, housing, and income data for Peoria, sourced from the US Census Bureau.
Salary needed to live in Peoria →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Population in Peoria, Illinois runs approximately 113,054. Median household income sits at $58,068, landing below the benchmark median we track across cities (-19%).
For renters and buyers alike, Peoria offers a median home value of $146,700 (below the tracked median, -55%) and median rent of $917 monthly. Local property taxes and current mortgage rates will shape the real cost of buying.
Peoria's home-price-to-income ratio of about 2.5× puts it in affordable territory — income here stretches further toward a home purchase than in many cities we track. Prices in the area have surged 6.42% year over year, a hot pace that's pushed up competition for buyers near Peoria. FEMA classifies Peoria's hazard risk as Relatively Moderate, a comparatively low rating among the cities we track.
Personal Affordability Check
Renting at $917/mo in Peoria would take 19.0% of your income.
$535/mo under the 30% guideline.
Buying the median home ($146,700) would take 16.2% of your income toward principal & interest.
$572/mo under the 28% guideline.
Cost of housing in Peoria
Median home value is $146,700 and median gross rent is $917/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Peoria rose 6.42% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,039/month.
Climate & home insurance
FEMA rates Peoria's overall natural-hazard risk as Relatively Moderate. Risk level is a major driver of home insurance premiums.
Safety
Peoria reported a violent crime rate of 1256.9 per 100,000 residents in 2025, per FBI data.
Moving to Peoria
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Frequently asked questions
- What is the cost of living in Peoria, IL?
- In Peoria, the median home value is $146,700 and median rent is $917 per month, against a median household income of $58,068. These figures come from the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Peoria?
- Comfortably affording rent in Peoria — where the median runs $917/month — typically means earning about $36,680 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Peoria.
- Is it better to rent or buy in Peoria?
- In Peoria, comfortably renting the median unit ($917/month) takes about $36,680 in annual income, while buying the median home ($146,700) takes roughly $33,564 a year in principal and interest alone (assumes 20% down, a 30-year fixed loan, and current mortgage rates).
- Is Peoria safe?
- Per FBI Crime Data Explorer figures, Peoria's violent crime rate was 1256.9 per 100,000 residents in 2025.
See the full salary breakdown for Peoria →
Cities with a similar cost of living
Matched on median rent and household income within 15% of Peoria's.