Cheap Apartments for Rent in the Central South Neighborhood of Peoria, IL from $400 (58 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
close
View Me
1833 N Wisconsin Ave
Studio to 1 Bedroom Apartments

1833 N Wisconsin Ave

1833 N Wisconsin AvePeoria, IL 61603
  • Utilities Included
close
View Me
Madison Links Apartments
1 to 2 Bedroom Apartments

Madison Links Apartments

2405 Martin Luther King Jr DrPeoria, IL 61604
  • Utilities Included
close
View Me
3013-3021 N Woodbine Ter
1 to 2 Bedroom Apartments

3013-3021 N Woodbine Ter

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

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.

Read Article
close
View Me
Linn St Commons
1 Bedroom Apartments

Linn St Commons

2112-2117 N Linn StPeoria, IL 61604
  • Utilities Included
close
View Me
Peoria Flats
1 to 3 Bedroom Apartments

Peoria Flats

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

3405 Kingston Dr

3405 Kingston DrPeoria, IL 61604
close
View Me
Hurlburt House
1 Bedroom Apartments

Hurlburt House

818 W Hurlburt StPeoria, IL 61605
Senior Living
close
View Me
Sandmeyer Flats
Studio to 2 Bedroom Apartments

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603
close
View Me
Cityscape Apartments
2 to 3 Bedroom Apartments

Cityscape Apartments

601 W Romeo B Garrett AvePeoria, IL 61605
  • Utilities Included

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.

Read Article
close
View Me
Schlarman House
1 Bedroom Apartments

Schlarman House

707 Madison Ave NEPeoria, IL 61603
Senior Living
  • 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.

Read Article
Showing Results 1-50, Page 1 of 2

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 1 Bed unit found at The Avenue Apartments priced from $795. Crestwood Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here are the most affordable Central South apartments for rent in Peoria, IL:

Apartment ListingModel NameBed/BathPriced From
The Avenue Apartments1B/ 1BA1BR,1BA$795
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
Civic Center Plaza ApartmentsStudioStudio,1BA$825
Brandywine Crossing Apartments1 Bedroom G1BR,1BA$876
502 W High St1 Bedroom1BR,1BA$900
Carriage Hill Apartments2 Beds, 1 Baths2BR,1BA$950
EMR Apartments1/1 Standard1BR,1BA$963
ASPEN BLUFF APARTMENTSTwo Bedrooms Two Bathroom2BR,2BA$969
812 LoftsStudioStudio,1BA$1,050

Best Value Apartments for Rent in Central South, IL

As of June 12, 2026 the best value apartment in the Central South area is the $0.93 price per square foot 501 W Columbia Ter Model at 501 W Columbia Ter in the in the Averyville neighborhood starting from $1,400. The second greatest value Central South 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 Central South apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
501 W Columbia Ter501 W Columbia Ter3BR,1BA$0.93
107 NE Roanoke Ave3 Bedroom3BR,1BA$1.27
ASPEN BLUFF APARTMENTSThree Bedrooms Two Bathroom3BR,2BA$1.14
Carriage Hill Apartments2 Beds, 1 Baths2BR,1BA$0.95
Westporte ApartmentsWP2B2BR,1BA$1.31
109 Stewart St, Unit 2109 Stewart St1BR,1BA$1.00
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.18
Brandywine Crossing Apartments1 Bedroom G1BR,1BA$1.35
The Avenue Apartments1B/ 1BA1BR,1BA$1.29
Civic Center Plaza ApartmentsStudioStudio ,1BA$1.38

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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 $1,050.

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 $1,462.

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 19 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 $206 which is $1,256 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

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

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.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

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.