What salary do you need to live in Peoria, IL?

Peoria housing costs at a glance

A one-bedroom in Peoria rents for a median of $753 a month, utilities the tenant pays included; a two-bedroom goes for $998 and a three-bedroom for $1,160. Over a full year, the two-bedroom median comes to $11,976.

The median value of owner-occupied homes in the metro is $164,200. That is only 2.3× the area's median household income of $71,857, a low ratio by national standards.

The Regional Price Parity, BEA's index of local prices with the US at 100, is 91.2 here. Below 100 means a paycheck stretches further: $100,000 in Peoria has the buying power of roughly $109,612 at national average prices.

The salary lines for a two-bedroom in Peoria

For two bedrooms, $94,000 is where Peoria turns Comfortable. Below that, $47,000 marks the start of Okay and $23,000 the start of Tight; under $23,000 the score reads Stretched. Rent at the Comfortable line is 13% of gross pay.

Reaching Royal takes $298,000 — 3.2× the Comfortable line — because the last points come slowly once rent is already a small share.

How they were found: the same scoring function the calculator runs was evaluated at rising incomes until each cutoff was crossed, and the crossing rounded up to a whole $1,000.

What different incomes look like in Peoria

At $75,000 home size barely changes the picture: one, two and three bedrooms all grade Okay, with scores from 56 to 63.

Of the four salaries, $100,000 is the first where a two-bedroom reads Comfortable or better; $75,000 still lands at Okay.

Where Peoria falls nationally

Out of 387 metros, Peoria has the 263rd highest price parity and the 290th highest two-bedroom rent, which puts it in the middle half on overall prices and near the middle on rent.

Yuma, AZ ($999) and Wichita, KS ($998) bracket Peoria on two-bedroom rent.

Comparing Peoria with Illinois

How Peoria stacks up against its state: $998 for a two-bedroom against Illinois's $1,284, $164,200 for the median home against $263,300, and a price level of 91.2 against 100.0.

Run Illinois's statewide medians through the same score and Comfortable begins at $164,000; Peoria's line is −43% from that.

Looking for somewhere comparable without leaving Illinois? Springfield, IL, Davenport-Moline-Rock Island, IA-IL, and Rockford, IL have the closest mix of rent and overall prices.

The median Peoria household

What about a typical local household? Census puts median household income here at $71,857, which grades Okay (57) for a two-bedroom at the median rent. Put differently, Peoria's typical household is $22,143 below the $94,000 it takes to read Comfortable on two bedrooms. Statewide, the Illinois median household ($83,390) grades Okay on the state's own medians. A household figure may pool several earners, unlike a single salary.

These are pre-tax estimates from public statistics, not financial advice.