Peoria, IL is a vibrant city with a population of nearly 116,000 people. This city offers an ideal balance between small-town charm and big city amenities. The average two-bedroom rent in Peoria is an economical $830 per month compared to $1,430 nationally. Grocery costs are also relatively low, with a grocery cost index of 88 versus the US average of 100.
Businesses in Peoria take full advantage of its prime location on the Illinois River. Notable companies in the area include Caterpillar Inc., OSF Healthcare System, and Pekin Insurance Group. The downtown district is home to many unique businesses such as restaurants, bars, galleries and boutiques that bring life to the city center.
In addition to its lively business community and culture, Peoria also has a number of attractions for both locals and visitors alike. Popular destinations include the Dozer Park – home to the minor league baseball team – the Peoria Riverfront Museum and Wildlife Prairie Park which offers visitors opportunities to observe over 50 species of native wildlife in their natural habitat.
Peoria (zip 61605) has an unemployment rate of 9.0%. The US average is 6.0%.
Peoria (zip 61605) has seen the job market decrease by -7.5% over the last year. Future job growth over the next ten years is predicted to be 17.4%, which is lower than the US average of 33.5%.
Tax Rates for Peoria (zip 61605)
- The Sales Tax Rate for Peoria (zip 61605) is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Peoria (zip 61605) is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Peoria (zip 61605)
- The average income of a Peoria (zip 61605) resident is $14,217 a year. The US average is $37,638 a year.
- The Median household income of a Peoria (zip 61605) resident is $22,442 a year. The US average is $69,021 a year.