Cost of Living in Peoria: A Comprehensive Guide
Peoria: A Comprehensive Guide" />
Introduction
Peoria, Illinois, is a city that has been attracting a lot of attention from real estate investors, homeowners, and first-time home buyers. One of the factors that make Peoria an attractive destination is its cost of living. In this comprehensive guide, we will explore the cost of living in Peoria, including housing, transportation, healthcare, and other essential expenses.
Peoria Cost of Living
The cost of living in Peoria is relatively low compared to other cities in the United States. According to Numbeo, a website that compares the cost of living in different cities, the cost of living index in Peoria is 70.68, which is lower than the national average of 100. This means that the cost of living in Peoria is 30% lower than the national average.
Housing
Housing is one of the most significant expenses for most people. In Peoria, the cost of housing is relatively low compared to other cities in the United States. According to Zillow, the median home value in Peoria is $97,000, which is lower than the national median home value of $269,039. Renting is also affordable in Peoria, with the average rent for a one-bedroom apartment being $650 per month.
Transportation
Transportation is another essential expense for most people. In Peoria, the cost of transportation is relatively low compared to other cities in the United States. According to Numbeo, the cost of a monthly pass for public transportation in Peoria is $50, which is lower than the national average of $70. Gasoline is also affordable in Peoria, with the average price per gallon being $2.50.
Healthcare
Healthcare is another essential expense for most people. In Peoria, the cost of healthcare is relatively low compared to other cities in the United States. According to Numbeo, the cost of a doctor’s visit in Peoria is $100, which is lower than the national average of $150. The cost of health insurance is also affordable in Peoria, with the average monthly premium for a family of four being $1,200.
Other Essential Expenses
Other essential expenses, such as groceries, utilities, and entertainment, are also relatively affordable in Peoria. According to Numbeo, the cost of groceries in Peoria is 10% lower than the national average. The cost of utilities, such as electricity, water, and gas, is also lower than the national average. Entertainment options, such as dining out and going to the movies, are also affordable in Peoria.
FAQs
1. Is Peoria a good place to live?
Yes, Peoria is a great place to live. It has a low cost of living, a strong economy, and a vibrant culture. It is also home to several excellent schools, hospitals, and parks.
2. How does the cost of living in Peoria compare to other cities in Illinois?
The cost of living in Peoria is lower than the cost of living in other cities in Illinois, such as Chicago and Springfield. According to Numbeo, the cost of living index in Chicago is 96.81, while the cost of living index in Springfield is 80.34.
3. What is the average salary in Peoria?
The average salary in Peoria is $60,000 per year. However, salaries vary depending on the industry, job title, and experience level.
Conclusion
Peoria is a city that offers a low cost of living, making it an attractive destination for real estate investors, homeowners, and first-time home buyers. Housing, transportation, healthcare, and other essential expenses are relatively affordable in Peoria compared to other cities in the United States. If you are looking for a city that offers a high quality of life at an affordable cost, Peoria is an excellent choice.
