Illinois has 2 of the 25 best affordable places to live in the country, US News says
If you’re considering moving to an Illinois city with a lower cost of living, you might want to check out this recent ranking from U.S. News & World Report.
Two Illinois cities were named in the U.S. News & World Report’s 25 Best Affordable Places to Live in the U.S. for 2024 to 2025, including one in central Illinois and one in northern Illinois. Missouri also has two cities on the list.
The ranking considered proportion of median household income going to the average cost to own or rent a home, including typical prices for utilities and taxes, and price parity, which U.S. News says compares the cost of goods and services across the U.S.
Here’s what to know about the two Illinois cities that made the list, as well as how they compared to the rest of the “best affordable places to live.”
Peoria
U.S. News & World Report lauded Peoria for its “communal glow and attractiveness” along with the city’s riverfront and entertainment options. Peoria’s population is 114,817, according to U.S. News. The city landed in 16th place on its list.
Peoria was also named in a recent Niche report of the 2024 Best Cities to Buy a House in Illinois, landing third place from the ranking and reviews website.
The New York Times reported in January a TikTok user brought “hundreds of transplants” to Peoria by highlighting the city’s affordable real estate.
The median household income in Peoria is $58,068, the U.S. Census Bureau reports. Peoria’s average home value is up 10.6% year-to-year at $127,608, Zillow reports.
Rockford
U.S. News describes Rockford, in 20th place on its list, as a “small city with a big heart.” It has a population of 163,783 people.
The city’s advantages include a lively downtown area and low cost of living, and Rockford is also the home of the “world’s most complete and best-preserved juvenile T. rex,” Jane, which resides at the Burpee Museum of Natural History.
The median household income in Rockford is $50,744, the Census Bureau reports. Rockford’s average home value is $160,242, up 14.7% from last year, Zillow reports.
Best affordable places to live
Here are the 25 Best Affordable Places to Live in the U.S. for 2024 to 2025, according to U.S. News and World Report:
Fort Wayne, Ind.
Huntsville, Ala.
Wichita, Kansas
Springfield, Mo.
Davenport, Iowa
Hickory, N.C.
Montgomery, Ala.
Green Bay, Wisc.
Little Rock, Ark.
Oklahoma City
Lexington, Ky.
Lafayette, La.
Omaha, Neb.
Brownsville, Texas
Lincoln, Neb.
Peoria, Ill.
Louisville, Ky.
South Bend, Ind.
Toledo, Ohio
Rockford, Ill.
Indianapolis
McAllen, Texas
Kansas City, Mo.
Tulsa, Okla.
Dayton, Ohio
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