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

Tampa

Florida
113
VS

Peoria

Illinois
61

Tampa is 85% more expensive than Peoria.

$1,567/mo ↑ 65%
Median Rent
$951/mo ↓ 39%
$71,302/yr ↑ 21%
Median Income
$58,716/yr ↓ 18%
$375,300 ↑ 151%
Home Value
$149,500 ↓ 60%
$1,553/mo ↑ 54%
Owner Costs
$1,007/mo ↓ 35%
393,389
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 Tampa, FL and Peoria, IL, the overall cost of living indices are 113 and 61 respectively (national median = 100). Rent is $616/month cheaper in Peoria, saving renters about $7,392/year.

Median household income is $12,586/year higher in Tampa. Home values also differ significantly — the median in Tampa is $375,300 compared to $149,500 in Peoria.

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

Frequently Asked Questions

Tampa vs Peoria — common questions

Is Tampa or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 113 (US average = 100).
What is the rent difference between Tampa and Peoria?
Median rent in Tampa is $1,567/month and in Peoria it's $951/month — a difference of $616/month.
Which city has higher income, Tampa or Peoria?
Median household income is $71,302 in Tampa and $58,716 in Peoria. Median household income is $12,586/year higher in Tampa.
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 Tampa or Peoria?
It depends on your priorities. Tampa has a cost index of 113 with median rent of $1,567/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.
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