Cost of Living: Anchorage, AK vs Peoria, IL (2026)

Anchorage

Alaska
113
VS

Peoria

Illinois
61

Anchorage is 85% more expensive than Peoria.

$1,453/mo ↑ 53%
Median Rent
$951/mo ↓ 35%
$98,152/yr ↑ 67%
Median Income
$58,716/yr ↓ 40%
$375,900 ↑ 151%
Home Value
$149,500 ↓ 60%
$1,698/mo ↑ 69%
Owner Costs
$1,007/mo ↓ 41%
289,069
Population
112,126

Tax Comparison

0%
Income Tax
4.95%
0%
State Sales Tax
6.25%
1.04%
Property Tax
2.07%

Affordability

17.8%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Anchorage, AK and Peoria, IL, the overall cost of living indices are 113 and 61 respectively (national median = 100). Rent is $502/month cheaper in Peoria, saving renters about $6,024/year.

Median household income is $39,436/year higher in Anchorage. Home values also differ significantly — the median in Anchorage is $375,900 compared to $149,500 in Peoria.

Alaska has no state income tax, giving Anchorage residents a significant tax advantage over Illinois's 4.95% rate.

Frequently Asked Questions

Anchorage vs Peoria — common questions

Is Anchorage or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 113 (US average = 100).
What is the rent difference between Anchorage and Peoria?
Median rent in Anchorage is $1,453/month and in Peoria it's $951/month — a difference of $502/month.
Which city has higher income, Anchorage or Peoria?
Median household income is $98,152 in Anchorage and $58,716 in Peoria. Median household income is $39,436/year higher in Anchorage.
How do taxes compare between Alaska and Illinois?
Alaska has 0% income tax, 0% sales tax, and 1.04% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Anchorage or Peoria?
It depends on your priorities. Anchorage has a cost index of 113 with median rent of $1,453/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 Anchorage details → View Peoria details →

More Comparisons

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