Cost of Living: Springfield, IL vs Peoria, IL (2026)

Springfield

Illinois
61
VS

Peoria

Illinois
61

Springfield and Peoria have a similar cost of living.

$945/mo ≈ Same
Median Rent
$951/mo ≈ Same
$65,537/yr ↑ 12%
Median Income
$58,716/yr ↓ 10%
$155,200 ↑ 4%
Home Value
$149,500 ↓ 4%
$974/mo ↓ 3%
Owner Costs
$1,007/mo ↑ 3%
113,714
Population
112,126

Tax Comparison

4.95%
Income Tax
4.95%
6.25%
State Sales Tax
6.25%
2.07%
Property Tax
2.07%

Affordability

17.3%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Springfield, IL and Peoria, IL, the overall cost of living indices are 61 and 61 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $6,821/year higher in Springfield. Home values also differ significantly — the median in Springfield is $155,200 compared to $149,500 in Peoria.

Both cities share the same state tax structure since they are in Illinois.

Frequently Asked Questions

Springfield vs Peoria — common questions

Is Springfield or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 61 (US average = 100).
What is the rent difference between Springfield and Peoria?
Median rent in Springfield is $945/month and in Peoria it's $951/month — a difference of $6/month.
Which city has higher income, Springfield or Peoria?
Median household income is $65,537 in Springfield and $58,716 in Peoria. Median household income is $6,821/year higher in Springfield.
How do taxes compare between Illinois and Illinois?
Both cities are in Illinois and share the same state tax rates: 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Springfield or Peoria?
It depends on your priorities. Springfield has a cost index of 61 with median rent of $945/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 Springfield details → View Peoria details →

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