Cost of Living: Lakeland, FL vs Peoria, IL (2026)

Lakeland

Florida
82
VS

Peoria

Illinois
61

Lakeland is 34% more expensive than Peoria.

$1,299/mo ↑ 37%
Median Rent
$951/mo ↓ 27%
$60,947/yr ↑ 4%
Median Income
$58,716/yr ↓ 4%
$229,100 ↑ 53%
Home Value
$149,500 ↓ 35%
$1,149/mo ↑ 14%
Owner Costs
$1,007/mo ↓ 12%
117,030
Population
112,126

Tax Comparison

0%
Income Tax
4.95%
6.0%
State Sales Tax
6.25%
0.86%
Property Tax
2.07%

Affordability

25.6%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Lakeland, FL and Peoria, IL, the overall cost of living indices are 82 and 61 respectively (national median = 100). Rent is $348/month cheaper in Peoria, saving renters about $4,176/year.

Median household income is $2,231/year higher in Lakeland. Home values also differ significantly — the median in Lakeland is $229,100 compared to $149,500 in Peoria.

Florida has no state income tax, giving Lakeland residents a significant tax advantage over Illinois's 4.95% rate.

Frequently Asked Questions

Lakeland vs Peoria — common questions

Is Lakeland or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 82 (US average = 100).
What is the rent difference between Lakeland and Peoria?
Median rent in Lakeland is $1,299/month and in Peoria it's $951/month — a difference of $348/month.
Which city has higher income, Lakeland or Peoria?
Median household income is $60,947 in Lakeland and $58,716 in Peoria. Median household income is $2,231/year higher in Lakeland.
How do taxes compare between Florida and Illinois?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Lakeland or Peoria?
It depends on your priorities. Lakeland has a cost index of 82 with median rent of $1,299/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 Lakeland details → View Peoria details →

More Comparisons

Other cost of living comparisons for Lakeland and Peoria

Lakeland vs. Clearwater Lakeland vs. The Woodlands Lakeland vs. North Charleston Lakeland vs. Evansville Lakeland vs. Cambridge Lakeland vs. Brandon Peoria vs. Pompano Beach Peoria vs. Downey Peoria vs. Lansing Peoria vs. Murrieta Peoria vs. Las Cruces Peoria vs. Pueblo