Cost of Living: Billings, MT vs Peoria, IL (2026)

Billings

Montana
86
VS

Peoria

Illinois
61

Billings is 41% more expensive than Peoria.

$1,097/mo ↑ 15%
Median Rent
$951/mo ↓ 13%
$71,855/yr ↑ 22%
Median Income
$58,716/yr ↓ 18%
$311,800 ↑ 109%
Home Value
$149,500 ↓ 52%
$1,177/mo ↑ 17%
Owner Costs
$1,007/mo ↓ 14%
118,321
Population
112,126

Tax Comparison

6.75%
Income Tax
4.95%
0%
State Sales Tax
6.25%
0.74%
Property Tax
2.07%

Affordability

18.3%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Billings, MT and Peoria, IL, the overall cost of living indices are 86 and 61 respectively (national median = 100). Rent is $146/month cheaper in Peoria, saving renters about $1,752/year.

Median household income is $13,139/year higher in Billings. Home values also differ significantly — the median in Billings is $311,800 compared to $149,500 in Peoria.

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

Frequently Asked Questions

Billings vs Peoria — common questions

Is Billings or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 86 (US average = 100).
What is the rent difference between Billings and Peoria?
Median rent in Billings is $1,097/month and in Peoria it's $951/month — a difference of $146/month.
Which city has higher income, Billings or Peoria?
Median household income is $71,855 in Billings and $58,716 in Peoria. Median household income is $13,139/year higher in Billings.
How do taxes compare between Montana and Illinois?
Montana has 6.75% income tax, 0% sales tax, and 0.74% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Billings or Peoria?
It depends on your priorities. Billings has a cost index of 86 with median rent of $1,097/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 Billings details → View Peoria details →

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