Cheap 2 Bedroom Apartments for Rent in the Downtown Peoria Neighborhood of Peoria, IL from $547 (49 Rentals)

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Looking for the perfect new rental? Learn great ways to spot the perfect apartment for you, identify common red flags, and avoid rental issues and scams with these expert provided actionable tips.

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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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Madison Links Apartments
2 Bedroom Apartments

Madison Links Apartments

2405 Martin Luther King Jr DrPeoria, IL 61604
  • Utilities Included
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Cityscape
2 Bedroom Apartments

Cityscape

601 W Romeo B Garrett AvePeoria, IL 61605
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Peoria Flats
2 Bedroom Apartments

Peoria Flats

2317-2331 Martin Luther King Jr DrPeoria, IL 61604
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Glen Oak Manor
2 Bedroom Apartments

Glen Oak Manor

2310 N Wisconsin AvePeoria, IL 61603
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Sandmeyer Flats
2 Bedroom Apartments

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603

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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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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Meadows Apartments
2 Bedroom Apartments

Meadows Apartments

140 Bluff St WEast Peoria, IL 61611
  • Utilities Included
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Hillside Apartments
2 Bedroom Apartments

Hillside Apartments

100 Woodrow DrEast Peoria, IL 61611
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The Hillsides
2 Bedroom Apartments

The Hillsides

4731 N Galena RdPeoria Heights, IL 61616
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Showing Results 1-49, Page 1 of 1

Downtown Peoria, 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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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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Pet Friendly Lifestyle
Downtown Peoria, Peoria, IL

Ranked #3

Among cities in Illinois for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Peoria, Peoria, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Downtown Peoria Apartments

What is a cheap apartment in Downtown Peoria?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Peoria is under $900.

What is the price of a cheap apartment in Downtown Peoria?

The cheapest apartment in Downtown Peoria is Cityscape which is listed at $711, while the average apartment in Downtown Peoria costs $1,163.

What types of apartments are the cheapest in Downtown 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 2 regular apartments in Downtown 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 Downtown Peoria?

Cheap apartments in Downtown Peoria have an average cost of $138 which is $1,025 cheaper than the average rent for all rentals in Downtown 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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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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.