Pekin, IL

Very Low · 51

Illinois · Population 31,812 · Updated March 2026

$792
Median Rent / Month
$58,355
Median Income
$118,200
Median Home Value
$886
Owner Costs / Month

Affordability

How far your income goes in Pekin

16.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$9,504
Annual Rent
$2,889
State Income Tax
$2,447
Property Tax (est.)

Cost of Living Overview

Pekin is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 51 (where 100 equals the national median), Pekin residents can expect to pay median rent of $792/month while earning a median household income of $58,355/year.

The median home value in Pekin, IL is $118,200, with typical monthly owner costs around $886 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Pekin.

Frequently Asked Questions

Common questions about living costs in Pekin

What is the cost of living in Pekin, IL?
The cost of living index in Pekin, IL is 51 (US average = 100). Median monthly rent is $792, median household income is $58,355/year, and the median home value is $118,200.
Is Pekin, IL affordable?
Yes, Pekin is more affordable than the national average with a cost index of 51. The rent-to-income ratio is 16.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Pekin, IL?
The median gross rent in Pekin, IL is $792 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,504.
What is the median household income in Pekin?
The median household income in Pekin, IL is $58,355 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.