Housing costs in Peoria?
A typical home costs
$195,700, which is 42.1% less expensive than the national average of
$338,100 and 19.0% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Peoria costs
$950 per month, which is 24.6% cheaper than the national average of
$1,260 and 6.3% more than the state average of
$890.
Can I afford Peoria?
To live comfortably in Peoria (zip 61602), Illinois, a minimum annual income of
$37,440 for a family, and
$30,000 for a single person is recommended.
What does A.I. say about Peoria?
The cost of living in 61602 Peoria, IL is relatively low when compared to the national average. According to the most recent estimates, the overall cost of living index for the area is 86.7, which is 14.3% lower than the U.S. average. This means that housing costs, groceries, utilities and other expenses are all less expensive on average than what you would find in other parts of the country. Additionally, income tax rates in Illinois are below the national average as well, making life in 61602 Peoria even more affordable for those who live there.