Cost of Living: Indianapolis, IN vs Peoria, IL (2026)

Indianapolis

Indiana
74
VS

Peoria

Illinois
61

Indianapolis is 21% more expensive than Peoria.

$1,112/mo ↑ 17%
Median Rent
$951/mo ↓ 14%
$62,995/yr ↑ 7%
Median Income
$58,716/yr ↓ 7%
$207,000 ↑ 38%
Home Value
$149,500 ↓ 28%
$1,124/mo ↑ 12%
Owner Costs
$1,007/mo ↓ 10%
882,043
Population
112,126

Tax Comparison

3.05%
Income Tax
4.95%
7.0%
State Sales Tax
6.25%
0.83%
Property Tax
2.07%

Affordability

21.2%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Indianapolis, IN and Peoria, IL, the overall cost of living indices are 74 and 61 respectively (national median = 100). Rent is $161/month cheaper in Peoria, saving renters about $1,932/year.

Median household income is $4,279/year higher in Indianapolis. Home values also differ significantly — the median in Indianapolis is $207,000 compared to $149,500 in Peoria.

Indiana has a lower income tax rate, making Indianapolis slightly more tax-friendly.

Frequently Asked Questions

Indianapolis vs Peoria — common questions

Is Indianapolis or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 74 (US average = 100).
What is the rent difference between Indianapolis and Peoria?
Median rent in Indianapolis is $1,112/month and in Peoria it's $951/month — a difference of $161/month.
Which city has higher income, Indianapolis or Peoria?
Median household income is $62,995 in Indianapolis and $58,716 in Peoria. Median household income is $4,279/year higher in Indianapolis.
How do taxes compare between Indiana and Illinois?
Indiana has 3.05% income tax, 7.0% sales tax, and 0.83% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Indianapolis or Peoria?
It depends on your priorities. Indianapolis has a cost index of 74 with median rent of $1,112/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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