Cost of Living in Peoria, IL
Population: 112,126 • 2026 Data
$58,716
Median Household Income
-24% vs national
$951
Median Monthly Rent
-29% vs national
$149,500
Median Home Value
-56% vs national
7.8%
Unemployment Rate
Housing in Peoria
The median home value in Peoria, IL is $149,500. Monthly rent for a typical unit averages $951, while total monthly housing costs (including utilities and insurance) average $1,007.
Rent-to-income ratio: 19.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Peoria, IL is $58,716. The unemployment rate stands at 7.8%, with a labor force of 54,760 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.