Welcome to Peoria, Illinois
A city that is as vibrant and diverse as it is welcoming. With its unique blend of cultural richness, economic dynamism, and friendly community spirit, Peoria has something for everyone. Let’s take a closer look at key demographic, economic, and social characteristics that make this city a prime destination for potential residents or investors.
Average Salary in Peoria
Its average salary is a central indicator of Peoria’s robust economy. The earnings compete favorably with many other locations nationwide, with a figure standing at $57,000. This competitive wage, combined with a wide range of job opportunities in sectors as diverse as Healthcare, education, government, manufacturing, retail makes Peoria an ideal location for professionals from various walks of life.
Median Home Value in Peoria
The real estate landscape in Peoria is as varied as it is promising. The median home value is $320,000, offering everything from cosy starter homes to luxurious residences. An impressive homeownership rate of 69.10% underlines Peoria as a prime spot for long-term investment and stability.
For those who prefer the flexibility of renting, they’ll be in good company. 30.90% of the local populace choose to rent, drawn by a versatile rental market that offers options for everyone from recent graduates to retirees.
Credit Ratings and Loan Opportunities in Peoria
The financial health of a city’s residents can be crucial in numerous aspects, including the capacity to secure loans. In Illinois, the average credit score sits at 719. This rating is a key factor for financial institutions when offering loans, with higher scores often leading to more favorable loan conditions.
However, a low credit score is not a roadblock in Peoria. Numerous lenders in the city are specialists in offering guidance and loan solutions to individuals across the credit score spectrum, ensuring everyone has the opportunity to realize their financial goals.
Demographics and Density in Peoria
Peoria has a population of around 111,666 inhabitants. These residents are comfortably spread across 48.0 sq mi (or 124.3 km2), ensuring a comfortable balance of urban life without the pressures of overpopulation. The city’s population density stands at 2,357 individuals per square mile, offering a sense of community while still allowing for personal space.
Economic Landscape in Peoria
Peoria enjoys a thriving economy with Healthcare, education, government, manufacturing, retail being the major contributors. The proximity of the nearest airport (General Wayne A. Downing Peoria International Airport (PIA)), amplifies the city’s attractiveness for businesses seeking to expand or set up shop, offering excellent connectivity with both national and international markets. The city’s average credit score of 719 reflects a financially responsible and economically active populace.
Educational Opportunities in Peoria
Peoria holds education in high esteem. The city boasts top-ranking schools, such as Richwoods High School, Peoria Notre Dame High School, Peoria High School, Manual Academy, Quest Charter Academy, providing excellent educational opportunities from the foundational levels. For higher education, prestigious institutions like Bradley University, Illinois Central College and Methodist College, produce a well-educated, competent workforce contributing to Peoria’s vibrant economy and societal fabric.
City’s Alias: Peoria
Affectionately known as ‘River City‘, Peoria, positioned at 40.75°N 89.62°W, is celebrated for its energetic culture, committed efforts to preserve its rich history, and the superior lifestyle it provides its residents. Whether you’re a potential resident, investor, or visitor, Peoria promises a rewarding and enriching experience.
Recreation and Lifestyle in Peoria
Experience the exciting pace of life in Peoria, where many recreational activities await. Whether you’re an art enthusiast, a sports fanatic, or a nature lover, Peoria caters to all. Popular attractions include Peoria Zoo, Peoria Riverfront Museum and Forest Park Nature Center, providing a rich mixture of educational and entertainment experiences.
The city’s commitment to promoting a balanced lifestyle is further showcased by its array of parks and open spaces, ideal for relaxation or active pursuits. Not to forget Peoria’s vibrant events calendar, filled with cultural festivals, sporting events, and community gatherings that highlight the city’s spirit of camaraderie.