Cheap Apartments for Rent in Peoria, IL from $400 (73 Rentals)

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

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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International Place
Studio to 2 Bedroom Apartments

International Place

6500 N University StPeoria, IL 61614
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Brookview Apartments
1 to 2 Bedroom Apartments

Brookview Apartments

2820 W War Memorial DrPeoria, IL 61615
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Pine Hill
1 Bedroom Apartments

Pine Hill

806-808 W Pine Hill LnPeoria, IL 61614
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Richwoods Plaza
1 to 2 Bedroom Apartments

Richwoods Plaza

6709 N University StPeoria, IL 61614
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1833 N Wisconsin Ave
Studio Apartments

1833 N Wisconsin Ave

1833 N Wisconsin AvePeoria, IL 61603
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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Golfview Apartments
1 to 3 Bedroom Apartments

Golfview Apartments

2317-2331 Martin Luther King Jr DrPeoria, IL 61604
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Madison Links Apartments
1 to 2 Bedroom Apartments

Madison Links Apartments

2405 Martin Luther King Jr DrPeoria, IL 61604
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Briargate Apartments
1 to 2 Bedroom Apartments

Briargate Apartments

7217 N University StPeoria, IL 61614
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3013-3021 N Woodbine Ter
1 to 2 Bedroom Apartments

3013-3021 N Woodbine Ter

3013-3021 N Woodbine TerPeoria, IL 61604
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Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
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3405 Kingston Dr
1 to 2 Bedroom Apartments

3405 Kingston Dr

3405 Kingston DrPeoria, IL 61604
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Peoria, IL Local Guide

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Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Peoria, IL

Pricing Updated: 07/01/2025

Current apartment rentals in the Peoria, IL area range in price from $575 to $2,675 with an overall median price of $1,485. The three Peoria neighborhoods with the lowest median rent pricing are Lyndale Road at $575, Oakcliff at $575, and Armstrong Ellis at $575. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Peoria Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Lyndale Road$1,039$57549
Oakcliff$1,039$57554
Armstrong Ellis$1,100$57513
East Bluff NHS$1,100$5757
East Bluff United$1,100$57512
Fairfax Addition$1,147$57562
Central South$1,150$57559
North Peoria$1,150$57599
Sunset Hills$1,150$57541
West Peoria$1,150$57580

Cheapest Available Peoria Apartments for Rent

 

The cheapest available apartment rental in Peoria, IL is a 1 Bed unit found at Linn St Commons in the Averyville neighborhood priced from $600. The Avenue Apartments in the Averyville neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here is today’s list of the most affordable Peoria apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Linn St Commons1BR/1BA1BR,1BA$600
The Avenue Apartments1B/ 1BA1BR,1BA$650
Knoxville Manor ApartmentsGarden Level1BR,1BA$675
Willow Knolls ApartmentsStudioStudio,1BA$700
Hollow HillsStudioStudio,1BA$700
The Village on UniversityAnderson at Village SouthStudio,1BA$725
Crescent Creek Apartments1x11BR,1BA$750
Hanssler Court Apartments1 Bedroom1BR,1BA$775
Woods + Meadow ApartmentsStudio Apartment in North PeoriaStudio,1BA$775
The Grove ApartmentsStandard 1 Bed / 1 Bath1BR,1BA$795

Best Value Apartments for Rent in Peoria, IL

As of July 01, 2025 the best value apartment in the Peoria area is the $0.66 price per square foot 3 Bed 1 Bath Model at 1512 E Gardner Ln in the in the Northmoor Knolls neighborhood starting from $795. The second greatest value Peoria apartment is the 1200 N Sheridan Rd Model at 1200 N Sheridan Rd, Unit 2 starting at $1,100 with a $0.92 price per square foot in the Averyville neighborhood. Here is today’s list of the best values for Peoria apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1512 E Gardner Ln3 Bed 1 Bath3BR,1BA$0.66
1200 N Sheridan Rd, Unit 21200 N Sheridan Rd2BR,1BA$0.92
Covington Place2 BR/1.5BA - 2nd/3rd floor2BR,1.5BA$0.97
Glen Willows2 Bedroom 1.5 Bathroom2BR,1.5BA$1.06
Crescent Creek Apartments1x11BR,1BA$0.88
Brighton Woods1Bed1Bath1BR,1BA$1.06
Hollybrook Apartments1 bedroom1BR,1BA$1.06
Linn St Commons1BR/1BA1BR,1BA$0.87
Hollow HillsStudioStudio ,1BA$1.08
The Avenue Apartments1B/ 1BA1BR,1BA$1.06

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Peoria Overview

If you are looking for a new place to call home, Peoria, IL might just be calling your name. With numerous landmarks, beautiful weather, and scenic views, you are sure to feel right at home in no time. While looking into a apartments in Peoria, take note of some of the reasons that living in the city is a great idea.

Why live in Peoria, IL?

Peoria is a fantastic place to live, with many opportunities for entertainment. The city is the largest on the Illinois River, with beautiful views. There are no shortage of places to get in your outdoor fix and experience nature around the city, with over 9000 acres in parks. Peoria is also Illinois’s oldest urbanized area. If you are someone who values pleasant fellow residents, Peoria ranks high on the Top 10 Best Mannered Cities for the entire nation on a consistent basis, so you are sure to make a few new friends in no time. Additionally, if you are looking to further your education, you need look no further, as the opportunities abound.

Best Local Schools in
Peoria, IL

School data provided by Great Schools

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

Explore Peoria, IL Rentals by Map

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See the most popular apartments and homes in Peoria, IL

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Getting Around Peoria, IL

Walk Score®

49 / 100

Car-Dependent

Most errands require a car

Bike Score®

46 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

31 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $795.

What is the price of a cheap apartment in Peoria?

The cheapest apartment in Peoria is Linn St Commons which is listed at $600, while the average apartment in Peoria costs $1,485.

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 48 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 $281 which is $1,204 cheaper than the average rent for all rentals in Peoria.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.