Moving to Peoria, Illinois? The Peoria economy is dependent on farming, ranching, light industry, and manufacturing, with a combined population of just under 200,000 people. Caterpillar, Inc., a heavy machinery corporation with headquarters in Peoria, is a global company.
Things to know before moving to Peoria
The regions of the Peoria and Bloomington area different. Peoria is a quieter city in general, while Bloomington is attracting younger residents and has a more lively nightlife. Bloomington is home to State Farm Insurance and is a popular destination for IT professionals.
The Dunlap neighborhood in Northern Peoria is a good choice for families because it has newer condos and housing. Grandview and Peoria Heights both have river views and are considered desirable places to live.
Bloomington’s housing is a little more upscale, with a slightly higher median price, thanks to the city’s large IT workforce. Restaurants, coffee shops, and music venues can be found in the Bloomington City Center area for a more modern feel. College students, teachers, young urban professionals, and young families call the area around Airport Road and General Electric Road home.
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Cost of Living
Peoria has a reasonable cost of living, which is lower than a larger city like Chicago but significantly higher than the national average. Peoria residents have a median family income of $55,84 and a median home price of $87,400. Peoria’s employment growth isn’t particularly impressive, and the city has struggled to create new jobs in recent years, just like the rest of the country.
Peoria has run into much of the same issue that many moderately sized Midwestern cities have faced since the COVID-19 pandemic, which is creating new jobs and career opportunities, compared to the national average job growth of 24.63 percent. If you’re moving to the city without a job, this situation will make things complicated. Because of this low number, it may be a good idea to find work before moving to Peoria or else look for work in a nearby town or city.
Job Market and Employment
Caterpillar, Inc., one of the 30 firms that make up the Dow Jones Industrial Average, has its corporate headquarters in Peoria. The city has a long manufacturing history, dating back to John Hamlin’s flour mill in the 1830s. Since then, Peoria has attracted businesses such as Archer Daniels Midland, Komatsu America Corporation, Maui Jim, and Bergner’s.
In the early nineteenth century, Peoria was also one of the first global pioneers in the distilling industry. Peoria, in reality, was home to at least 22 distilleries and several breweries, earning the distinction of generating the highest amount of alcohol-related internal revenue tax of any district in the United States. However, things have changed since then, and Peoria is now well known for its emerging companies in the machinery manufacturing industry, such as Komatsu America and Caterpillar.
Moving to Peoria
If you’re moving to Peoria for a change of environment or for work, the city’s charm will entice you. The first step is to find a moving company that has good BBB scores, insurance, and a license. If you’re traveling inside the state, you’ll be paid by the hour, but if you’re moving long distances, you’ll be charged by the total weight or volume of your belongings in cubic feet. You may inquire about a flat rate or any special discounts given by the mover in the latter case.