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Page Reviewed / Updated – January 14, 2024
The 10 Best Assisted Living Facilities in Peoria, IL
Peoria may be a prime location for retired seniors, at least financially, for its cost of living comes in about 26% below the national average and even significantly below the Illinois state average. Most expense categories are also well below average, especially housing and transportation. Illinois is a tax-friendly state for retirees, too. Social Security benefits and most other retirement income are not taxed.
Seniors can plan on paying an average of $4,780 per month for assisted living in Peoria. This figure is well above the national average of $4,459 but only slightly higher than the Illinois average of $4,742.
Using this guide, seniors can learn more about assisted living in Peoria and discover helpful resources.
The Cost of Assisted Living in Peoria, IL
When determining how to finance Assisted Living, it’s essential to first know the expense involved for your loved one to join a reputable community. With the ongoing increase in costs, having current information is crucial when budgeting for senior care. To help highlight the influence of inflation on senior living expenses, PayingForSeniorCare.com has collected cost data from its extensive network of over 75,000 senior living communities. This data represents the average cost of Assisted Living in Peoria and in 110 other cities in Illinois.
Inflation & the Cost of Assisted Living in Peoria, IL
Assisted living prices are on the rise in Peoria and other Illinois cities. Costs have jumped by nearly 10% in Peoria from 2022 to 2023, and they are projected to rise by another nearly 8% in 2024. Bloomington, Springfield and Naperville show similar cost increases over the same period.
These price hikes mirror the national average, which offers similar statistics. The Illinois average, however, dropped by about 4.5% from 2022 to 2023 but is predicted to increase by about 12% in 2024. Seniors, therefore, must carefully plan their care budgets to fit their needs.
Location |
2022 Cost (Historical) |
2023 Cost (Current) |
2024 Cost (Estimated) |
Peoria |
$4,363 |
$4,780 |
$5,148 |
U.S. Average |
$4,070 |
$4,459 |
$4,802 |
Illinois |
$4,959 |
$4,742 |
$5,313 |
Bloomington |
$4,873 |
$5,339 |
$5,750 |
Springfield |
$4,497 |
$4,927 |
$5,306 |
Naperville |
$3,410 |
$3,736 |
$4,023 |
The Cost of Other Types of Care in Peoria, IL
Peoria’s seniors have many care options to choose from. The least expensive is independent living at $2,600 per month. However, people who need help with personal care or housekeeping may choose assisted living even though this does cost more at $4,780. Memory care is the most expensive at $6,267 because it offers more specialized and comprehensive care for people experiencing memory loss.
Care Type |
Cost |
Assisted Living |
$4,780 |
Memory Care |
$6,267 |
Independent Living |
$2,600 |
Financial Assistance for Assisted Living in Peoria, IL
Other Ways to Pay for Assisted Living in Peoria, IL
Since not everyone can afford to pay for assisted living out-of-pocket, it’s important to find alternative methods to help make assisted living more affordable. Some of these options include:
- Veterans Benefits
- Life Insurance Policy
- Long-Term Care Insurance
- Reverse Mortgage
For additional information and planning, read our comprehensive guide to paying for senior care in Illinois.
Rules and Regulations for Assisted Living Facilities in Peoria, IL
Assisted Living Communities in Peoria are required to follow a set of rules and regulations that are determined by the state. For an overview of those rules and regulations, see the information below. For more specific information, talk with your local community or Area Agency on Aging.