Cost of Living in Peoria, OK

With a cost of living index of 61, Peoria, OK is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 10% below the Oklahoma state average of 71. Peoria is a small community of 97 residents.

Housing costs are the biggest factor in Peoria's cost of living. The median monthly rent is $633 (52% below the US median of $1,319), and the median home value sits at $126,100 (59% below the national median of $304,900). At current prices, the median home costs roughly 4.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Peoria is $28,510, which is 62% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.