Elgin vs Peoria
Cost of Living Comparison · 2026
Elgin
Peoria
The Verdict
Elgin is 15.9% less expensive than Peoria overall. A household earning $75,000 in Elgin would need approximately $89,211 in Peoria to maintain the same standard of living.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Elgin has the same purchasing power as $89,211 in Peoria.
Conversely, $75,000 in Peoria equals $63,053 in Elgin.
Living in Elgin vs Peoria
Housing Costs
Elgin's housing index of 89 is lower Peoria's 149, translating to median home prices of $279,000 vs $495,000. The $216,000 difference in home prices means roughly $14,040 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,375/mo in Elgin compared to $1,725/mo in Peoria, a monthly difference of $350.
Grocery & Food Costs
Grocery expenses index at 104 in Elgin and 98 in Peoria. A household spending the national average of $475/month on groceries would pay approximately $494/month in Elgin vs $466/month in Peoria. Peoria offers a meaningful advantage on everyday food costs, saving roughly $336/year.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 89 in Elgin and 106 in Peoria. Monthly utility bills average approximately $356 in Elgin vs $424 in Peoria. Climate differences between the two cities drive much of this gap, with heating and cooling costs varying substantially by region.
Healthcare
Healthcare costs index at 105 in Elgin and 86 in Peoria. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 19-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $90,300 in Elgin and $97,300 in Peoria. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $95,053 and $86,106 respectively. Elgin residents enjoy stronger real purchasing power despite lower nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $2,107/month to housing in Elgin vs $2,270/month in Peoria. In Elgin, median rent of $1,375/mo fits within this budget. In Peoria, median rent of $1,725/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 60 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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