Minneapolis vs Peoria
Cost of Living Comparison · 2026
Minneapolis
Peoria
The Verdict
The cost gap between these cities is 6.2%, with Minneapolis being the more affordable option. A $75,000 income in Minneapolis has equivalent purchasing power to $79,953 in Peoria.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Minneapolis has the same purchasing power as $79,953 in Peoria.
Conversely, $75,000 in Peoria equals $70,354 in Minneapolis.
Living in Minneapolis vs Peoria
Housing Costs
Minneapolis's housing index of 112 is lower Peoria's 149, translating to median home prices of $310,000 vs $495,000. The $185,000 difference in home prices means roughly $12,024 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,500/mo in Minneapolis compared to $1,725/mo in Peoria, a monthly difference of $225.
Grocery & Food Costs
Grocery expenses index at 104 in Minneapolis and 98 in Peoria. A household spending the national average of $475/month on groceries would pay approximately $494/month in Minneapolis 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 97 in Minneapolis and 106 in Peoria. Monthly utility bills average approximately $388 in Minneapolis vs $424 in Peoria. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 105 in Minneapolis 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 $64,285 in Minneapolis and $97,300 in Peoria. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $60,646 and $86,106 respectively. Peoria residents come out ahead in real purchasing power.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,500/month to housing in Minneapolis vs $2,270/month in Peoria. In Minneapolis, median rent of $1,500/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 37 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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