Cheap Homes for Rent in Peoria Heights, IL from $700 (27 Rentals)

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Search the lowest-cost Homes available for rent right now in Peoria Heights.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

property at 617 E Republic St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975

Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

617 E Republic St

PeoriaIL61603
property at 611 Phelps St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975

Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

611 Phelps St

PeoriaIL61603
property at 627 Fairholm Ave

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975

Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

627 Fairholm Ave

PeoriaIL61603

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Peoria Heights, IL Local Guide

Cheapest Available Peoria Heights Apartments for Rent

 

The cheapest available apartment rental in Peoria Heights, IL is a Studio unit found at The Village on University in the Northmoor Knolls neighborhood priced from $725. Winkler Village Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Peoria Heights apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Village on UniversityAnderson at Village SouthStudio,1BA$725
Winkler Village Apartments1BD 1BTH1BR,1BA$725
Hollybrook Apartments1 bedroom1BR,1BA$825
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
Knoxville Manor ApartmentsLevel 21BR,1BA$900
Glen Willows2 Bedroom 1 Bathroom2BR,1BA$925
Carriage Hill Apartments2 Beds, 1 Baths2BR,1BA$950
EMR Apartments1/1 Standard1BR,1BA$963
Covington Place2BR/1BA Signature In Unit Washer & Dryer2BR,1BA$1,045
Covington Court ApartmentsCC2PL2BR,2BA$1,295

Best Value Apartments for Rent in Peoria Heights, IL

As of June 10, 2026 the best value apartment in the Peoria Heights area is the $0.90 price per square foot 1319 W Daytona Dr Model at 1319 W Daytona Dr, Unit 1 in the in the Northmoor Knolls neighborhood starting from $1,350. The second greatest value Peoria Heights apartment is the 3 Bedroom Model at 107 NE Roanoke Ave starting at $1,525 with a $1.27 price per square foot in the Averyville neighborhood. Here is today’s list of the best values for Peoria Heights apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1319 W Daytona Dr, Unit 11319 W Daytona Dr2BR,2BA$0.90
107 NE Roanoke Ave3 Bedroom3BR,1BA$1.27
Covington Court ApartmentsCC2BR2BR,2BA$1.26
Carriage Hill Apartments2 Beds, 1 Baths2BR,1BA$0.95
Covington Place2BR/1.5BA Signature In Unit Wash/Dryer2BR,1.5BA$1.15
Glen Willows2 Bedroom 1 Bathroom2BR,1BA$1.06
Hollybrook Apartments1 bedroom1BR,1BA$1.06
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.18
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06
The Village on UniversityTucker Remodel Garden Level1BR,1BA$1.47

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Peoria Heights

What type of rentals are currently available in Peoria Heights?

There are currently 67 Apartments for Rent in Peoria Heights, IL with pricing that ranges from $700 to $2,675. There are also 47 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peoria Heights ranging from $700 to $2,400.

What is the current price range for Rental Homes in Peoria Heights?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Peoria Heights ranges from $700 to $2,400 with an average monthly rent of $1,120.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.