Peoria, IL
Peoria County · Pop. 113,150
Ranked #4 of 243 cities
64Moderate
Median Home Price
🏠$130K
2.0% YoY
Median Rent
🔑$900
1.5% YoY
Median Income
💰$45K
Rent Burden
📊26.5%
% of income to rent
Income to Buy
🏦$37K
annual income needed
Income to Rent
📝$36K
annual income needed
Price-to-Income
⚖️2.9x
Homeownership
🏡62.0%
Rent vs. Buy
Buy
$692/mo
Est. mortgage (7%, 20% down)
Need $37K/yr income
Rent
$900/mo
Median rent
Need $36K/yr income
How Peoria Compares
| Metric | Peoria | Illinois | National |
|---|---|---|---|
| Home Price | $130K | $263K | $410K |
| Rent | $900 | $1,238 | $1,500 |
| Income | $45K | $80K | $75K |
| Rent Burden | 26.5% | 32.5% | 30.0% |
Key Takeaways
- • Home prices in Peoria are 68% lower than the national average.
- • Rent is 40% lower than the national average.
- • You need an income of $37K to comfortably buy a home here.
- • The homeownership rate is 62.0%, compared to 65.0% nationally.