Cost of Living: Elgin, IL vs Peoria, IL (2026)

Elgin

Illinois
90
VS

Peoria

Illinois
61

Elgin is 48% more expensive than Peoria.

$1,260/mo ↑ 32%
Median Rent
$951/mo ↓ 25%
$88,316/yr ↑ 50%
Median Income
$58,716/yr ↓ 34%
$252,400 ↑ 69%
Home Value
$149,500 ↓ 41%
$1,502/mo ↑ 49%
Owner Costs
$1,007/mo ↓ 33%
114,106
Population
112,126

Tax Comparison

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

Affordability

17.1%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Elgin, IL and Peoria, IL, the overall cost of living indices are 90 and 61 respectively (national median = 100). Rent is $309/month cheaper in Peoria, saving renters about $3,708/year.

Median household income is $29,600/year higher in Elgin. Home values also differ significantly — the median in Elgin is $252,400 compared to $149,500 in Peoria.

Both cities share the same state tax structure since they are in Illinois.

Frequently Asked Questions

Elgin vs Peoria — common questions

Is Elgin or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 90 (US average = 100).
What is the rent difference between Elgin and Peoria?
Median rent in Elgin is $1,260/month and in Peoria it's $951/month — a difference of $309/month.
Which city has higher income, Elgin or Peoria?
Median household income is $88,316 in Elgin and $58,716 in Peoria. Median household income is $29,600/year higher in Elgin.
How do taxes compare between Illinois and Illinois?
Both cities are in Illinois and share the same state tax rates: 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Elgin or Peoria?
It depends on your priorities. Elgin has a cost index of 90 with median rent of $1,260/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 Elgin details → View Peoria details →

More Comparisons

Other cost of living comparisons for Elgin and Peoria

Elgin vs. Provo Elgin vs. Odessa Elgin vs. Waterbury Elgin vs. Springfield Elgin vs. Carlsbad Elgin vs. Beaumont Peoria vs. Pompano Beach Peoria vs. Downey Peoria vs. Lansing Peoria vs. Murrieta Peoria vs. Las Cruces Peoria vs. Pueblo