Median Home PriceBETTER
$154,382.4
Median Rent
$1,168.27/mo
Price-to-Rent RatioBETTER
11.0
Property Tax RateTIE
2.27%
Price Change (1Y)BETTER
+8.9%
Price Change (5Y)BETTER
+44.4%
Break-Even YearsBETTER
3 years
10-Year Wealth DifferenceBETTER
+$50,773
Median Home Price
$186,232.99
Median RentBETTER
$1,129.31/mo
Price-to-Rent Ratio
13.7
Property Tax RateTIE
2.27%
Price Change (1Y)
+7.1%
Price Change (5Y)
+35.5%
Break-Even Years
N/A
10-Year Wealth Difference
$8,273
Key Differences
Home Prices
Peoria's median home price of $154,382.4 is lower than Springfield's $186,232.99 by 17%.
Monthly Rent
Renting in Peoria costs $1,168.27/mo compared to $1,129.31/mo in Springfield—a difference of $38.96/mo.
Buy vs Rent Verdict
Peoria favors buying, while Springfield favors either option.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.