Cost of Living: Colorado Springs, CO vs Peoria, IL (2026)

Colorado Springs

Colorado
119
VS

Peoria

Illinois
61

Colorado Springs is 95% more expensive than Peoria.

$1,562/mo ↑ 64%
Median Rent
$951/mo ↓ 39%
$83,198/yr ↑ 42%
Median Income
$58,716/yr ↓ 29%
$420,700 ↑ 181%
Home Value
$149,500 ↓ 64%
$1,592/mo ↑ 58%
Owner Costs
$1,007/mo ↓ 37%
483,099
Population
112,126

Tax Comparison

4.4%
Income Tax
4.95%
2.9%
State Sales Tax
6.25%
0.51%
Property Tax
2.07%

Affordability

22.5%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Peoria, IL, the overall cost of living indices are 119 and 61 respectively (national median = 100). Rent is $611/month cheaper in Peoria, saving renters about $7,332/year.

Median household income is $24,482/year higher in Colorado Springs. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $149,500 in Peoria.

Colorado has a lower income tax rate, making Colorado Springs slightly more tax-friendly.

Frequently Asked Questions

Colorado Springs vs Peoria — common questions

Is Colorado Springs or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 119 (US average = 100).
What is the rent difference between Colorado Springs and Peoria?
Median rent in Colorado Springs is $1,562/month and in Peoria it's $951/month — a difference of $611/month.
Which city has higher income, Colorado Springs or Peoria?
Median household income is $83,198 in Colorado Springs and $58,716 in Peoria. Median household income is $24,482/year higher in Colorado Springs.
How do taxes compare between Colorado and Illinois?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Colorado Springs or Peoria?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/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 Colorado Springs details → View Peoria details →

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