Measured against area pay, Tremont costs more to live in than 52% of U.S. towns
Up 6.5% in a year, 15% below the Illinois typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Peoria, IL metro area ($72K). How TownRatings grades cost of living
Only 2 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the Peoria metro earn ($72K, Census 2020–24). Even so, the typical home costs 2.6 years of metro income, and 41% of renters pay 30% or more of income for housing.
In dollars
- $253Ktypical home, 15% below the Illinois typical homeZillow, September 2026
- $1,030a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 91prices across the Peoria metro, where the U.S. is 100 (housing 64)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.6 yrsof area income buys the typical home; the typical U.S. town: 3.3$72K, Peoria-area income
- 17%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 41%of renters pay 30%+ of income for housing; across Illinois: 48%Census 2020–24
- 16%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Tremont?
Read from the numbers below. The page puts what stands out first.
What’s behind Tremont’s grade
Measured against what households in the area earn, Tremont is more affordable than 48% of U.S. towns. Property tax pulls the grade down most; home prices hold it up.
Values have outpaced Illinois: the typical Tremont home is up 35.1% in five years, against 29.6% statewide (Zillow).
Up 35.1% in five years
Faster than Illinois (29.6%).
Show as a table
| January | Tremont | Illinois |
|---|---|---|
| 2017 | $161,000 | $179,000 |
| 2018 | $166,000 | $188,000 |
| 2019 | $168,000 | $193,000 |
| 2020 | $171,000 | $198,000 |
| 2021 | $178,000 | $213,000 |
| 2022 | $193,000 | $233,000 |
| 2023 | $205,000 | $246,000 |
| 2024 | $214,000 | $260,000 |
| 2025 | $228,000 | $275,000 |
| 2026 | $243,000 | $287,000 |
| September 2026 | $253,000 | $296,000 |
A typical Tremont home worth $161K in October 2016 is worth about $253K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 2.6 years of area income
The calculator starts from the area income the grade uses. Switch to Tremont’s own median, or type yours.
That’s $8K short of a typical Tremont home.
A two-bedroom rents for about $1,030 a month here, $700 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Tremont’s typical property tax (1.95% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,030
Renters already here pay a median of $1,037.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Peoria, IL MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
2 new homes permitted in 2025
Builders were permitted 2 new homes in Tremont in 2025, all single-family houses. That's 0.8 per 1,000 residents, slower than across Illinois (1.6). Over the past 10 years, Tremont has permitted 16 homes in all.
Between the 2010 and 2020 censuses, Tremont gained 41 residents while 7 new homes were permitted: about 5.9 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 2 | 2 | 0 | $478,000 |
| 2024 | 2 | 2 | 0 | $478,000 |
| 2023 | 1 | 1 | 0 | $303,000 |
| 2022 | 3 | 3 | 0 | $525,000 |
| 2021 | 4 | 4 | 0 | $700,000 |
| 2020 | 2 | 2 | 0 | $350,000 |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 1 | 1 | 0 | $300,000 |
| 2016 | 1 | 1 | 0 | $300,000 |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 1 | 1 | 0 | $300,000 |
| 2013 | 1 | 1 | 0 | $300,000 |
| 2012 | 1 | 1 | 0 | $300,000 |
| 2011 | 1 | 1 | 0 | $300,000 |
| 2010 | 1 | 1 | 0 | $300,000 |
| 2009 | 1 | 1 | 0 | $300,000 |
| 2008 | 4 | 4 | 0 | $1 million |
| 2007 | 3 | 3 | 0 | $585,000 |
| 2006 | 4 | 4 | 0 | $990,000 |
| 2005 | 11 | 3 | 8 | $1.1 million |
| 2004 | 26 | 8 | 18 | $2.5 million |
| 2003 | 8 | 8 | 0 | $1.2 million |
| 2002 | 7 | 7 | 0 | $1.1 million |
| 2001 | 12 | 2 | 10 | $839,000 |
| 2000 | 0 | 0 | 0 | — |
Tremont's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Illinois norm
The median bill is $3,650 (Illinois: $5,298), 1.95% of a home’s value a year, against 2.01% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Tremont
Only figures published free for the whole country, each labeled with the area it covers: the Peoria, IL metro area, or Illinois. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 91 | IL 100 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 94 | IL 104 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 91 | IL 85 | metro | BEA, 2024 |
| Other services U.S. = 100 | 100 | IL 100 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Tremont and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Tremont | B− | $253K | $187K | 1.95% | $1,030 |
Questions about the cost of living in Tremont
Is Tremont expensive to live in?
Measured against what households in the area earn, Tremont costs more than 52% of U.S. towns: a B− for cost of living. The typical home costs 2.6 years of the median household income of the Peoria, IL metro area ($72K).
How much does a house cost in Tremont?
About $253K, Zillow’s typical value for September 2026, up 6.5% in a year. The Illinois typical home is $296K.
What salary do you need to live in Tremont?
To buy the typical home with 20% down at 6.3%, about $74,000 a year, keeping the payment (about $1,730 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $41,000.
How much is rent in Tremont?
HUD puts a two-bedroom at about $1,030 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,037 (Census 2020–24).
What are property taxes in Tremont?
The median bill is $3,650 a year, 1.95% of the median home value (Illinois: $5,298, 2.01%), from the Census 2020–24.
Are home prices in Tremont going up?
Yes: up 6.5% in the past year and 35.1% in five years, against 29.6% across Illinois (Zillow).
Neighbors talk housing
What Tremont buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.