Cost of Living: Newark, NJ vs Peoria, IL (2026)

Newark

New Jersey
100
VS

Peoria

Illinois
61

Newark is 64% more expensive than Peoria.

$1,330/mo ↑ 40%
Median Rent
$951/mo ↓ 28%
$48,416/yr ↓ 18%
Median Income
$58,716/yr ↑ 21%
$337,800 ↑ 126%
Home Value
$149,500 ↓ 56%
$1,419/mo ↑ 41%
Owner Costs
$1,007/mo ↓ 29%
307,188
Population
112,126

Tax Comparison

10.75%
Income Tax
4.95%
6.625%
State Sales Tax
6.25%
2.23%
Property Tax
2.07%

Affordability

33.0%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Peoria, IL, the overall cost of living indices are 100 and 61 respectively (national median = 100). Rent is $379/month cheaper in Peoria, saving renters about $4,548/year.

Median household income is $10,300/year higher in Peoria. Home values also differ significantly — the median in Newark is $337,800 compared to $149,500 in Peoria.

Illinois has a lower income tax rate, making Peoria slightly more tax-friendly.

Frequently Asked Questions

Newark vs Peoria — common questions

Is Newark or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 100 (US average = 100).
What is the rent difference between Newark and Peoria?
Median rent in Newark is $1,330/month and in Peoria it's $951/month — a difference of $379/month.
Which city has higher income, Newark or Peoria?
Median household income is $48,416 in Newark and $58,716 in Peoria. Median household income is $10,300/year higher in Peoria.
How do taxes compare between New Jersey and Illinois?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Newark or Peoria?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/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 Newark details → View Peoria details →

More Comparisons

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