Cheap Apartments for Rent in the Central South Neighborhood of Peoria, IL from $400 (54 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Central South area of Peoria.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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1833 N Wisconsin Ave
Studio to 1 Bedroom Apartments

1833 N Wisconsin Ave

1833 N Wisconsin AvePeoria, IL 61603
  • Utilities Included
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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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3013-3021 N Woodbine Ter
1 to 2 Bedroom Apartments

3013-3021 N Woodbine Ter

3013-3021 N Woodbine TerPeoria, IL 61604
  • Utilities Included

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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2112-2117 N Linn St
1 Bedroom Apartments

2112-2117 N Linn St

2112-2117 N Linn StPeoria, IL 61604
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Peoria Flats
1 to 3 Bedroom Apartments

Peoria Flats

2317-2331 Martin Luther King Jr DrPeoria, IL 61604
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3405 Kingston Dr
1 to 2 Bedroom Apartments

3405 Kingston Dr

3405 Kingston DrPeoria, IL 61604

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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Hurlburt House
1 Bedroom Apartments

Hurlburt House

818 W Hurlburt StPeoria, IL 61605
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Cityscape
2 to 3 Bedroom Apartments

Cityscape

601 W Romeo B Garrett AvePeoria, IL 61605
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Sandmeyer Flats
Studio to 2 Bedroom Apartments

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603
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Glen Oak Manor
2 Bedroom Apartments

Glen Oak Manor

2310 N Wisconsin AvePeoria, IL 61603
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Schlarman House
1 Bedroom Apartments

Schlarman House

707 Madison Ave NEPeoria, IL 61603
Senior Living
  • Utilities Included

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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Central South, Peoria, IL Local Guide

Cheapest Available Central South Apartments for Rent

 

The cheapest available apartment rental in the Central South area of Peoria, IL is a 2 Beds unit found at Cityscape priced from $711. The Avenue Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $795. Here are the most affordable Central South apartments for rent in Peoria, IL:

Apartment ListingModel NameBed/BathPriced From
Cityscape2 Bedroom2BR,2BA$711
The Avenue Apartments1B/ 1BA1BR,1BA$795
Glen Oak Manor2BR/1.0BA2BR,1BA$800
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
Civic Center Plaza ApartmentsStudioStudio,1BA$825
ASPEN BLUFF APARTMENTSOne Bedroom One Bathroom1BR,1BA$850
812 LoftsStudioStudio,1BA$1,050
Brandywine Crossing Apartments2 Bedroom 2 Bath2BR,2BA$1,082
Winkler LoftsStudio/LoftStudio,1BA$1,095
Cooperage 2141 Bed, 1 bath1BR,1BA$1,095

Best Value Apartments for Rent in Central South, IL

As of July 28, 2026 the best value apartment in the Central South area is the $1.27 price per square foot 3 Bedroom Model at 107 NE Roanoke Ave in the in the Averyville neighborhood starting from $1,525. The second greatest value Central South apartment is the HO36022B Model at Hidden Oaks Apartments starting at $1,450 with a $1.41 price per square foot in the Sunset Hills neighborhood. Here is today’s list of the best values for Central South apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
107 NE Roanoke Ave3 Bedroom3BR,1BA$1.27
Hidden Oaks ApartmentsHO36022B2BR,2BA$1.41
Cityscape2 Bedroom2BR,2BA$0.70
Brandywine Crossing Apartments2 Bedroom 2 Bath2BR,2BA$1.14
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.18
Glen Oak Manor2BR/1.0BA2BR,1BA$1.23
1401 E Richwoods Blvd1401 E Richwoods Blvd1BR,1BA$1.08
The Avenue Apartments1B/ 1BA1BR,1BA$1.29
Civic Center Plaza ApartmentsStudioStudio ,1BA$1.38
ASPEN BLUFF APARTMENTSOne Bedroom One Bathroom1BR,1BA$1.42

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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Quick Rent Budget Calculator

How much rent can you afford?

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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Lifestyle Ratings

ApartmentHomeLiving.com is happy to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, including Peoria. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for the best outdoor access, luxury amenities, pet-friendly features, family-friendly amenities, proximity to transit, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Central South Apartments

What is a cheap apartment in Central South?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Central South is under $1,095.

What is the price of a cheap apartment in Central South?

The cheapest apartment in Central South is The Avenue Apartments which is listed at $795, while the average apartment in Central South costs $1,150.

What types of apartments are the cheapest in Central South?

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 21 regular apartments in Central South 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 Central South?

Cheap apartments in Central South have an average cost of $246 which is $904 cheaper than the average rent for all rentals in Central South.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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.