Cost of living in Peoria
Peoria, located in Illinois, is a city known for its vibrant community and rich history. Understanding the cost of living in Peoria is crucial for anyone considering moving to or residing in the city.
This guide provides a detailed breakdown of various expenses, including housing, dining, transportation, and more, to help you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $14 on average, with a range between $12 and $25.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $55.5, with prices ranging from $50 to $110.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $8, with a range between $8 and $12.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3 to $6, imported beer $5 to $7, cappuccino $3.7 to $6, and Coke/Pepsi $1.25 to $3.
Grocery Prices
- Milk - Milk is priced between $0.45 and $1.32 per liter, averaging $0.91.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.65 and $4.41, with an average price of $2.75.
- Eggs (Dozen) - A dozen eggs range from $1.5 to $4.25, averaging $2.3.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.84 to $13.23 per kg, while oranges range from $2.76 to $11.02 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.46 and $3.73 per kg, and lettuce costs $1.79 to $2.17 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs $1.
- Monthly Pass - A monthly pass for public transport is priced at $40.
- Fuel (Gasoline) - Gasoline is priced between $0.75 and $1.03 per liter.
- Taxi Fares - Taxi fares start at $4.53, with a cost of $2.64 to $3.11 per km and $15 to $20 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $800 to $1150, averaging $974.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $700 to $850, averaging $780.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1420 to $1800, averaging $1580.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1200 to $1450, averaging $1287.5.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre is $1033.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter is $1033.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $165 and $300, averaging $212.25.
- Internet - Internet services range from $52 to $100, with an average cost of $70.5.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Peoria offers a relatively affordable cost of living compared to larger metropolitan areas. Housing costs are moderate, with reasonable rent prices both in and outside the city centre.
Dining out is quite affordable, especially at casual restaurants and fast food outlets. Grocery prices are competitive, making it easier to manage monthly food expenses.
Transportation costs are low, with inexpensive public transport options and affordable fuel prices. Utilities and internet services are reasonably priced, contributing to manageable monthly expenses.
Conclusion
In conclusion, Peoria, IL, presents a cost-effective living environment with balanced expenses across various categories. The city offers affordable housing, dining, and transportation options, making it an attractive choice for individuals and families seeking a budget-friendly lifestyle.
Potential residents can enjoy a comfortable standard of living without the high costs associated with larger cities, making Peoria a desirable location for those looking to maximize their income and savings.