Living in Peoria, IL

Peoria, Illinois offers a refreshing alternative to the soaring costs of living in many parts of the country. Here, you'll find a lifestyle characterized by affordability and a strong sense of community. With a median home value of just $146,700 and a median rent of $1,354, the cost of housing is significantly lower than the national average, making homeownership a realistic goal for many. The city boasts a high homeownership rate of 90%, and an affordability index of 218, further underscoring its appeal to those seeking financial stability without sacrificing quality of life. The atmosphere is generally quiet, and with a population of 113,054, Peoria maintains a friendly, welcoming vibe. From an investment perspective, Peoria presents a solid foundation. While the median household income of $58,068 is slightly below the national figure, the city's robust housing market, coupled with a relatively low violent crime rate of 4.3 per 1,000 residents and a property crime rate of 18.4 per 1,000 residents, makes it an attractive option for families and young professionals. The city's electric rate of 9.1¢/kWh is also quite competitive. While Peoria isn't known for its walkability, it's a place where you can build equity and enjoy a balanced lifestyle. Peoria's commitment to quality of life extends to its environment, with an air quality index of 43, indicating good air quality. Climate risk is relatively moderate, adding to the city's overall stability. While the bike score of 21 suggests opportunities for improvement in cycling infrastructure, the city's quiet atmosphere, combined with its affordability and sense of community, makes Peoria a compelling destination for those seeking a balanced, secure, and financially accessible place to call home.