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

Lakewood

Colorado
141
VS

Peoria

Illinois
61

Lakewood is 131% more expensive than Peoria.

$1,746/mo ↑ 84%
Median Rent
$951/mo ↓ 46%
$85,789/yr ↑ 46%
Median Income
$58,716/yr ↓ 32%
$548,200 ↑ 267%
Home Value
$149,500 ↓ 73%
$1,729/mo ↑ 72%
Owner Costs
$1,007/mo ↓ 42%
156,309
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

24.4%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Lakewood, CO and Peoria, IL, the overall cost of living indices are 141 and 61 respectively (national median = 100). Rent is $795/month cheaper in Peoria, saving renters about $9,540/year.

Median household income is $27,073/year higher in Lakewood. Home values also differ significantly — the median in Lakewood is $548,200 compared to $149,500 in Peoria.

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

Frequently Asked Questions

Lakewood vs Peoria — common questions

Is Lakewood or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 141 (US average = 100).
What is the rent difference between Lakewood and Peoria?
Median rent in Lakewood is $1,746/month and in Peoria it's $951/month — a difference of $795/month.
Which city has higher income, Lakewood or Peoria?
Median household income is $85,789 in Lakewood and $58,716 in Peoria. Median household income is $27,073/year higher in Lakewood.
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 Lakewood or Peoria?
It depends on your priorities. Lakewood has a cost index of 141 with median rent of $1,746/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 Lakewood details → View Peoria details →

More Comparisons

Other cost of living comparisons for Lakewood and Peoria

Lakewood vs. Macon Lakewood vs. Killeen Lakewood vs. Alexandria Lakewood vs. Kansas City Lakewood vs. Murfreesboro Lakewood vs. Springfield Peoria vs. Pompano Beach Peoria vs. Downey Peoria vs. Lansing Peoria vs. Murrieta Peoria vs. Las Cruces Peoria vs. Pueblo