May 12, 2024
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Peru, Ottawa rank in top 300 cities in Wall Street Journal report

Area ranks 276 out of top 300 in the nation for strong economy and affordable living

By Olivia Doak

Peru-Ottawa made the Wall Street Journal’s top 300 list throughout the nation for cities with strong economies and affordable living. Downtown Ottawa has several shops and restaurants that provide qualify of life and attract visitors. (Derek Barichello - dbarichello@shawmedia.com)

The Peru-Ottawa micropolitan made the Wall Street Journal’s top 300 list throughout the nation for cities with strong economies and affordable living.

Ranking at No. 276, the article reported high prices and rising mortgage rates are causing remote workers to relocate to more affordable places to live that still offer a high quality of life. This trend allowed for smaller, more affordable markets to break the rankings.

The report factored in economy, lifestyle data, real estate taxes, unemployment rate, wages, commute time and small business loans. The top-ranked markets had “faster home sales, higher wages and shorter commute times compared to the overall market,” according to the report.

Peru Economic Development Director Bob Vickrey said the city’s location is key in making the rankings. Being near Interstate 80, Interstate 39, the Illinois River, the Illinois Valley Regional Airport and the rail line helps bring more businesses to the area, promoting a prospering economy.

A pack of cross country runners participate in a race at Baker Lake in Peru, one of the city's parks providing quality of life to its residents. (Scott Anderson)

Since the pandemic, there are more opportunities for remote work, which doesn’t require people to settle down in one place. Ottawa Mayor Dan Aussem said it’s not hard to understand why people want to move out of the big city.

“I think we’re trying to promote that [lifestyle],” Aussem said. He cited Heritage Harbor as an example, a resort community in Ottawa where there are new opportunities for living and technology for high-speed internet to make remote work more feasible.

Peru Mayor Ken Kolowski called Peru “a big, little town,” meaning while people may consider it small based on size, there are a lot of things happening in it.

Kolowski said the national recognition is a testament to all the workers and citizens who make the area a great place to live. He said the success of Peru also is due to the success of surrounding cities and communities.