Peoria, IL at a glance
Median household income
$59,410$4,951 per month · U.S. Census Bureau ACS 5-YearHow much rent can you afford in Peoria, IL?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
How much is rent in Peoria, IL? By bedroom, 2026
HUD's fiscal 2026 Fair Market Rents for Peoria, IL MSA, with the income each one takes if rent stays under 30% of it.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $758 | $9,096 | $30,320 | 15.3% |
| 1-Bedroom Apartment | $818 | $9,816 | $32,720 | 16.5% |
| 2-Bedroom ApartmentBenchmark | $1,039 | $12,468 | $41,560 | 21% |
| 3-Bedroom Home | $1,346 | $16,152 | $53,840 | 27.2% |
| 4-Bedroom Home | $1,449 | $17,388 | $57,960 | 29.3% |
What a typical income covers in Peoria, IL
The 50/30/20 rule applied to the local median of $59,410 a year ($4,951 a month before tax).
What $59,410 leaves after Illinois taxes
Federal income tax, Social Security, Medicare and Illinois tax on the local median income. Change the salary to see yours.
Rent, jobs and pay in Illinois
Living in Peoria, IL: common questions
What is the median household income in Peoria, IL?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Peoria, IL is $59,410 per year (approximately $4,951 per month).
What is the average rent in Peoria, IL?
The closest official figure is HUD's Fair Market Rent for 2026: $758 for a studio, $818 for one bedroom, $1,039 for two, $1,346 for three and $1,449 for four, utilities included.
It is not an average of listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so a new lease on a nicer place will usually cost more.
Is Peoria, IL expensive to live in?
Prices there run 8.8% below the U.S. average. BEA's regional price parity for the metro area is 91.2, where the U.S. is 100. Rent moves the number most: housing is where places differ, while goods cost about the same everywhere.
How much do you need to earn to comfortably afford rent in Peoria, IL?
To keep a $1,039 two-bedroom under 30% of gross income, a household needs about $41,560 a year, or $3,463 a month. That is 70% of what the typical household in Peoria, IL earns.
How much do you need to live comfortably in Peoria, IL?
On the local median income of $59,410 ($4,951 a month before tax), the 50/30/20 rule leaves $2,475 a month for needs like rent, utilities and groceries, $1,485 for everything else and $990 for savings or debt. A two-bedroom at $1,039 takes 42% of the needs share.
How much is the electric bill in Peoria, IL?
Homes in Illinois paid 19.9¢ per kWh on average (EIA). At 900 kWh a month, a typical use, that is about $179. Your bill depends mostly on heating and cooling.