Cost of Living: Independence, MO vs Peoria, IL (2026)

Independence

Missouri
67
VS

Peoria

Illinois
61

Independence is 10% more expensive than Peoria.

$1,061/mo ↑ 12%
Median Rent
$951/mo ↓ 10%
$59,480/yr ↑ 1%
Median Income
$58,716/yr ↓ 1%
$166,400 ↑ 11%
Home Value
$149,500 ↓ 10%
$1,046/mo ↑ 4%
Owner Costs
$1,007/mo ↓ 4%
121,944
Population
112,126

Tax Comparison

4.95%
Income Tax
4.95%
4.225%
State Sales Tax
6.25%
0.93%
Property Tax
2.07%

Affordability

21.4%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Independence, MO and Peoria, IL, the overall cost of living indices are 67 and 61 respectively (national median = 100). Rent is $110/month cheaper in Peoria, saving renters about $1,320/year.

Median household income is $764/year higher in Independence. Home values also differ significantly — the median in Independence is $166,400 compared to $149,500 in Peoria.

Frequently Asked Questions

Independence vs Peoria — common questions

Is Independence or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 67 (US average = 100).
What is the rent difference between Independence and Peoria?
Median rent in Independence is $1,061/month and in Peoria it's $951/month — a difference of $110/month.
Which city has higher income, Independence or Peoria?
Median household income is $59,480 in Independence and $58,716 in Peoria. Median household income is $764/year higher in Independence.
How do taxes compare between Missouri and Illinois?
Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Independence or Peoria?
It depends on your priorities. Independence has a cost index of 67 with median rent of $1,061/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.
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