Cheap 2 Bedroom Apartments for Rent in Peoria, IL from $547 (63 Rentals)

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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Sharing a lease? Learn how to set clear expectations with your roommates on routines, bills, and cleaning to ensure a successful and peaceful shared living arrangement.

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property at 1411 W Barker Ave

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,200
Total Monthly Price
$950 - $1,200

2 Bedroom Homes for Rent

Available Now

1411 W Barker Ave

PeoriaIL61606
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

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.

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Madison Links Apartments
2 Bedroom Apartments

Madison Links Apartments

2405 Martin Luther King Jr DrPeoria, IL 61604
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Richwoods Plaza
2 Bedroom Apartments

Richwoods Plaza

6709 N University StPeoria, IL 61614
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Brookview Apartments
2 Bedroom Apartments

Brookview Apartments

2820 W War Memorial DrPeoria, IL 61615
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Woodhue Apartments
2 Bedroom Apartments

Woodhue Apartments

5815 W Ridgecrest DrPeoria, IL 61615
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Peoria Flats
2 Bedroom Apartments

Peoria Flats

2317-2331 Martin Luther King Jr DrPeoria, IL 61604

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.

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3405 Kingston Dr
2 Bedroom Apartments

3405 Kingston Dr

3405 Kingston DrPeoria, IL 61604
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Cityscape Apartments
2 Bedroom Apartments

Cityscape Apartments

601 W Romeo B Garrett AvePeoria, IL 61605
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Tiffany Pointe
2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
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Sandmeyer Flats
2 Bedroom Apartments

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603

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.

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Peoria, IL Local Guide

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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Peoria, IL

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

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Frequently Asked Questions about Cheap Peoria Apartments

What is a cheap apartment in Peoria?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Peoria is under $880.

What is the price of a cheap apartment in Peoria?

The cheapest apartment in Peoria is Crestwood Apartments which is listed at $850, while the average apartment in Peoria costs $1,672.

What types of apartments are the cheapest in Peoria?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 108 regular apartments in Peoria that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Peoria?

Cheap apartments in Peoria have an average cost of $216 which is $1,456 cheaper than the average rent for all rentals in Peoria.

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

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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.