A+
11%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
24%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index East Peoria Illinois National
Cost of living8996100
Goods & Services9497100
Groceries9998100
Health care8695100
Housing7695100
Transportation101103100
Utilities9089100

An Overview of Cost of Living in East Peoria, IL

Getting a feel for the cost of living in East Peoria is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in East Peoria is 89, which is 11% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Is East Peoria Affordable?

Wondering if East Peoria is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In East Peoria, for example, the median home price is 22.5% lower than what folks pay nationally, and monthly rent is 26.3% lower than the usual rates. Plus, income levels matter too, with East Peoria boasting a median household income of $65,164, which is 17.8% higher than the national average.

What Factors can Influence the Cost of Living in East Peoria?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In East Peoria, the transportation index is 1.2% higher than the national average.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In East Peoria, healthcare costs are 13.8% lower than the national average.

Where is the Data From?

The cost of living in East Peoria, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in East Peoria is 7% lower than the Illinois average
  • The cost of living in East Peoria is 11% lower than the national average
  • East Peoria housing is 24% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around East Peoria

See all the best places to live around East Peoria

Compare East Peoria, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$75,189$6,266$1,754$2,256
      Renters$32,897$2,741$768$987
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in East Peoria, IL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In East Peoria, homeowners have a median income of $75,189. Using that number, a maximum of $1,754 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $32,897, which means there is a maximum of $768 to be spent on the costs of renting a home or apartment.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Goods & Services

      Item East Peoria National avg. Difference
      Haircut $25.00$24.263.0%
      Beauty Salon $39.00$45.5614.4%
      Toothpaste $3.80$3.702.5%
      Shampoo $1.35$1.285.2%
      Movie $9.91$12.1318.4%
      Bowling $15.00$18.0016.7%

      Groceries

      Item East Peoria National avg. Difference
      Ground Beef $6.23$5.846.8%
      Fried Chicken $1.61$1.572.4%
      Milk $4.74$4.671.5%
      Potatoes $4.97$4.930.6%
      Pizza $12.49$12.093.4%
      Beer $10.32$10.410.9%

      Health Care

      Item East Peoria National avg. Difference
      Optometrist $119.25$125.685.1%
      Doctor $128.33$135.785.5%
      Dentist $81.17$113.2928.4%
      Ibuprofen $10.34$10.652.9%
      Lipitor $437.64$468.606.6%

      Housing

      Item East Peoria National avg. Difference
      Home Price $143,100.00$184,700.0022.5%
      Avg. Mortgage Payment $1,766.12$2,346.6924.7%
      Apartment Rent $699.00$949.0026.3%

      Transportation

      Item East Peoria National avg. Difference
      Gasoline $3.68$3.466.3%
      Tire Balancing $53.33$59.9211.0%

      Utilities

      Item East Peoria National avg. Difference
      All Electricity $158.51$193.9918.3%
      Phone $197.49$192.252.7%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Mapleton, IL3338020.1%
      Creve Coeur, IL5,0748119.0%
      Kingston Mines, IL2408119.0%
      Glasford, IL8978217.9%
      South Pekin, IL1,0618317.1%
      East Peoria, IL22,6158910.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Junction City, KS22,616927.9%
      Woodlawn, VA22,62012020.5%
      Allison Park, PA22,6231098.6%
      Munster, IN22,6041099.0%
      Cockeysville, MD22,60212323.5%
      East Peoria, IL22,6158910.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.