Housing costs in Pekin?
A typical home costs
$104,300, which is 69.2% less expensive than the national average of
$338,100 and 56.8% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Pekin costs
$830 per month, which is 42.0% cheaper than the national average of
$1,430 and 51.8% cheaper than the state average of
$1,260.
Can I afford Pekin?
To live comfortably in Pekin, Illinois, a minimum annual income of
$20,160 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Pekin?
The cost of living in Pekin, IL is relatively low compared to the national average. Groceries, housing, and utilities are all very affordable. The median home price in Pekin is $87,500 and the median property tax rate is 2.2%, making it an attractive location for homeowners. The cost of groceries is also lower than average, with a few exceptions such as milk and eggs being slightly more expensive than the national average. Utilities costs are below the national benchmark; electricity averages about 9 cents per kilowatt-hour and natural gas costs about 7 cents per therm. All in all, Pekin offers a great quality of life at an exceptionally low cost of living.