Cost of Living: Albuquerque, NM vs Peoria, IL (2026)

Albuquerque

New Mexico
80
VS

Peoria

Illinois
61

Albuquerque is 19% more expensive than Peoria.

$1,085/mo ↑ 14%
Median Rent
$951/mo ↓ 12%
$65,604/yr ↑ 12%
Median Income
$58,716/yr ↓ 10%
$266,700 ↑ 78%
Home Value
$149,500 ↓ 44%
$1,149/mo ↑ 14%
Owner Costs
$1,007/mo ↓ 12%
562,488
Population
112,126

Tax Comparison

5.9%
Income Tax
4.95%
5.0%
Sales Tax
6.25%
0.67%
Property Tax
2.07%

Affordability

19.8%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Peoria, IL, the overall cost of living indices are 80 and 61 respectively (national median = 100). Rent is $134/month cheaper in Peoria, saving renters about $1,608/year.

Median household income is $6,888/year higher in Albuquerque. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $149,500 in Peoria.

Illinois has a lower income tax rate, making Peoria slightly more tax-friendly.

Frequently Asked Questions

Albuquerque vs Peoria — common questions

Is Albuquerque or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 80 (US average = 100).
What is the rent difference between Albuquerque and Peoria?
Median rent in Albuquerque is $1,085/month and in Peoria it's $951/month — a difference of $134/month.
Which city has higher income, Albuquerque or Peoria?
Median household income is $65,604 in Albuquerque and $58,716 in Peoria. Median household income is $6,888/year higher in Albuquerque.
How do taxes compare between New Mexico and Illinois?
New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Albuquerque or Peoria?
It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Peoria has a cost index of 61 with rent of $951/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Albuquerque details → View Peoria details →