Cheap Apartments for Rent in Peoria, IL
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PET FRIENDLY$725 - $1,199/mo
Studio-2 Beds
1-2 BathsThe Village on University | 6516-6500 N University St,
Peoria, IL 61614
PET FRIENDLY$735 - $775/moStudio-1 Bed1 BathWoods + Meadow Apartments | 2215 W Willow Knolls Dr,
Peoria, IL 61614
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PET FRIENDLY$775 - $925/mo1-2 Beds1 BathPeoria Flats - New Mgmt - New Name - Fresh Upgrades | 2317 & 2331 W Martin Luther King Jr Dr,
Peoria, IL 61604
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Average Rent Trends in Peoria, IL
Rent in Peoria, IL varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in Aug 2026 compared to the previous month. Rent previously peaked in Apr 2025.
| Month | Average rent |
|---|---|
| Sep 2025 | $1,100 |
| Oct 2025 | $1,106 |
| Nov 2025 | $1,100 |
| Dec 2025 | $1,054 |
| Jan 2026 | $1,100 |
| Feb 2026 | $1,100 |
| Mar 2026 | $1,095 |
| Apr 2026 | $1,095 |
| May 2026 | $1,095 |
| Jun 2026 | $1,085 |
| Jul 2026 | $999 |
| Aug 2026 | $1,069 |
Average Rent By Bedroom and Home Type
In August 2026, Apartments and Condos were the most affordable home type to rent compared with Houses and Townhomes.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $854 | $995 | $1,341 | $1,510 | $1,090 |
| Townhomes | $950 | $1,500 | $1,650 | — | $1,500 |
| Apartments and Condos | $950 | $1,000 | $1,350 | $1,650 | $1,025 |
| Houses | $725 | $850 | $1,300 | $1,500 | $1,125 |
Frequently Asked Questions about Rentals in Peoria, IL
- What is the average rent of an apartment in Peoria, IL?The average rent of an apartment in Peoria, IL is $1,056 per month. This is about 46% lower than the national average.
- When is the average rent cheapest in Peoria, IL?In the last year, the average rent in Peoria, IL was lowest in Jan 2025 when it was $1,000 per month.
- When is the average rent most expensive in Peoria, IL?In the last year, the average rent in Peoria, IL was highest in Apr 2025 when it was $1,130 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in Peoria, IL?The average rent of a 1 bedroom apartment in Peoria, IL is $854 per month. That is about $4 more than the cost of a studio apartment.
- How many available rental listings are in Peoria, IL?There are 309 available rental listings in Peoria, IL.
- What colleges and universities are in Peoria, IL?Colleges and universities in Peoria, IL include: Bradley University.
- What are some neighborhoods in Peoria, IL?
- What are some zip codes in Peoria, IL?
- What are some cities near Peoria, IL?Some nearby cities include: Peoria Heights, West Peoria, Bellevue, Norwood, Mossville. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en Peoria, IL - 432 Rentas | Trulia