Housing costs in Peoria?
A typical home costs
$67,200, which is 80.1% less expensive than the national average of
$338,100 and 72.2% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Peoria costs
$990 per month, which is 21.4% cheaper than the national average of
$1,260 and 10.1% more than the state average of
$890.
Can I afford Peoria?
To live comfortably in Peoria (zip 61603), Illinois, a minimum annual income of
$12,960 for a family, and
$31,200 for a single person is recommended.
What does A.I. say about Peoria?
The cost of living in 61603 Peoria, IL is quite reasonable. According to the BestPlaces Cost of Living Index, the overall cost of living in 61603 is about 7% lower than the national average. This includes a slightly lower housing market where the median home value is around $108,000, and an average monthly rent for a two-bedroom apartment of approximately $800. Utilities are also quite affordable with an average electricity bill for a 900 sq/ft home at around $120 per month. Groceries and health care costs also trend towards being lower than the national average. Furthermore, with ample shopping and dining options available nearby, along with numerous attractions and activities open to the public, 61603 Peoria IL presents plenty of opportunities to enjoy an affordable quality of life.