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

Palm Bay

Florida
91
VS

Peoria

Illinois
61

Palm Bay is 49% more expensive than Peoria.

$1,487/mo ↑ 56%
Median Rent
$951/mo ↓ 36%
$67,521/yr ↑ 15%
Median Income
$58,716/yr ↓ 13%
$248,000 ↑ 66%
Home Value
$149,500 ↓ 40%
$1,203/mo ↑ 19%
Owner Costs
$1,007/mo ↓ 16%
125,273
Population
112,126

Tax Comparison

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

Affordability

26.4%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Palm Bay, FL and Peoria, IL, the overall cost of living indices are 91 and 61 respectively (national median = 100). Rent is $536/month cheaper in Peoria, saving renters about $6,432/year.

Median household income is $8,805/year higher in Palm Bay. Home values also differ significantly — the median in Palm Bay is $248,000 compared to $149,500 in Peoria.

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

Frequently Asked Questions

Palm Bay vs Peoria — common questions

Is Palm Bay or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 91 (US average = 100).
What is the rent difference between Palm Bay and Peoria?
Median rent in Palm Bay is $1,487/month and in Peoria it's $951/month — a difference of $536/month.
Which city has higher income, Palm Bay or Peoria?
Median household income is $67,521 in Palm Bay and $58,716 in Peoria. Median household income is $8,805/year higher in Palm Bay.
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 Palm Bay or Peoria?
It depends on your priorities. Palm Bay has a cost index of 91 with median rent of $1,487/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 Palm Bay details → View Peoria details →

More Comparisons

Other cost of living comparisons for Palm Bay and Peoria

Palm Bay vs. Allentown Palm Bay vs. Meridian Palm Bay vs. Thousand Oaks Palm Bay vs. Vallejo Palm Bay vs. Simi Valley Palm Bay vs. Round Rock Peoria vs. Pompano Beach Peoria vs. Downey Peoria vs. Lansing Peoria vs. Murrieta Peoria vs. Las Cruces Peoria vs. Pueblo