Insurance Agent Salary in Peoria, IL: $48,878 (2026)
Quick Answer:A full-time insurance agent in Peoria, IL earns a median $48,878/year (≈ $23.50/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Peoria's price level (9% below national, BEA RPP 91.2), that paycheck buys what $53,576 would nationally. Nominal pay sits 19.9% below the Illinois state average.
Official BLS data · View source
In 2026, the insurance agent salary in Peoria, Illinois, is projected at a median of $48,878, considerably lower than the national median of $64,522. Salaries for agents in the region vary significantly, with a range from $32,323 at the 10th percentile to $79,668 at the 90th percentile. These figures, derived from 2025 BLS OEWS data projected to 2026, highlight the contrasting pay structures across different agency models. While captive agents, particularly those working with prominent carriers like State Farm and Allstate, often enjoy the stability of salary plus commissions, independent agents and those in commercial brokerages can potentially earn more, particularly in specialized lines.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $32,323 | $15.54 |
| Lower Range (P25) | $43,978 | $21.14 |
| Median (P50)(typical) | $48,878 | $23.50 |
| Upper Range (P75) | $66,801 | $32.12 |
| Top Earners (P90) | $79,668 | $38.30 |
Median Salary Position
24.25% below the national average
2026 Salary Percentile Distribution in Peoria
In Peoria, IL, the insurance agent salary spread from the 10th to 90th percentile is $47,345 (2026 est.). At $48,878, the local median is 24.25% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Peoria: You'd be in the lower-middle range
How Peoria Insurance Agent Pay Compares
Peoria median: $48,878/year (2026)
| Compared To | Median Salary | Peoria Pays |
|---|---|---|
| Illinois Average | $61,022 | -19.90% less |
| National Average | $64,522 | -24.25% less |
Insurance Agents in Peoria, IL earn a median of $48,878 per year (2026 est.), which is 24.25% lower than the national median of $64,522 and 19.90% below the Illinois state average of $61,022.
Cost-of-Living Adjusted Salary
Peoria has a cost of living 8.77% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Peoria, IL has a cost-of-living index of 91.231 (below the national average of 100). A insurance agent earning $48,878 nominally has purchasing power equivalent to $53,576 in an average-cost city — an effective 9.61% boost.
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2019 BLS Actual
$46,070
2025 BLS Actual
$47,180
2026 Current Est.
$48,878
2019–2027 Growth
+9.9%
Salary Trajectory for Insurance Agents in Peoria (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $46,070 | Actual |
| 2020 | $43,740 | Actual |
| 2021 | $48,590 | Actual |
| 2022 | $45,480 | Actual |
| 2023 | $40,000 | Actual |
| 2024 | $41,420 | Actual |
| 2025 | $47,180 | Actual |
| 2026(current) | $48,878 | Estimated |
| 2027 | $50,638 | Projected |
Based on 7 years of BLS OEWS data for the Peoria metropolitan area, the median insurance agent salary grew 2.4% from $46,070 (2019) to $47,180 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $50,638 by 2027 — a total increase of $4,568 (9.92%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Peoria metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $32,323 – $43,978 |
| 3-5 years (Mid Career) | $43,978 – $48,878 |
| 5+ years (Experienced) | $48,878 – $66,801 |
| 10+ years (Top Earner) | $66,801 – $79,668 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Peoria
With around 300 insurance agents employed in Peoria, IL, the local job market remains competitive. The city's cost-of-living index, currently at 91.231, reflects a more affordable environment compared to the national average, which enhances the purchasing power for agents. Employers such as State Farm and Allstate typically offer robust bases and training incentives, yet agents with a larger book of business or those involved in commercial lines can outperform their peers. The disparity in pay is often driven by factors like renewal commissions, the nature of commercial versus personal lines, and agency ownership opportunities. For agents in Peoria seeking to maximize their income, focusing on building a strong portfolio and considering affiliations with larger commercial brokerages may yield significant financial returns.
More salary data for Peoria, IL:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $47,180 for insurance agentsin the Peoria metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Source: BLS, OEWS, 7-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov