Cheap Apartments for Rent in the Downtown Peoria Neighborhood of Peoria, IL from $400 (56 Rentals)

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

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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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
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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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Hurlburt House
1 Bedroom Apartments

Hurlburt House

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

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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
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Cityscape Apartments
2 to 3 Bedroom Apartments

Cityscape Apartments

601 W Romeo B Garrett AvePeoria, IL 61605
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443 W High St
1 to 2 Bedroom Apartments

443 W High St

443 W High StPeoria, IL 61606
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Savannah Meadows
1 to 2 Bedroom Apartments

Savannah Meadows

751 W Joan CtPeoria, IL 61614
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Twin Towers Place
1 to 3 Bedroom Apartments

Twin Towers Place

123 SW Jefferson AvePeoria, IL 61602
  • Utilities Included
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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Downtown Peoria, Peoria, IL Local Guide

Cheapest Available Downtown Peoria Apartments for Rent

 

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

Apartment ListingModel NameBed/BathPriced From
Linn St Commons1BR/1BA1BR,1BA$600
The Avenue Apartments1B/ 1BA1BR,1BA$650
Knoxville Manor ApartmentsGarden Level1BR,1BA$675
Hollybrook Apartments1 bedroom1BR,1BA$775
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$775
Civic Center Plaza ApartmentsStudioStudio,1BA$803
Brandywine Crossing Apartments1 Bedroom G1BR,1BA$850
Forrest Edge Apartments2 bed 1.5 bath2BR,1BA$875
Covington Place2BR/1BA garden level2BR,1BA$900

Best Value Apartments for Rent in Downtown Peoria, IL

As of October 10, 2025 the best value apartment in the Downtown Peoria area is the $0.90 price per square foot 501 W Columbia Ter Model at 501 W Columbia Ter, Unit 3 in the in the Averyville neighborhood starting from $1,350. The second greatest value Downtown Peoria apartment is the 1 BR Model at 511 W High St starting at $950 with a $0.81 price per square foot in the Averyville neighborhood. Here is today’s list of the best values for Downtown Peoria apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
501 W Columbia Ter, Unit 3501 W Columbia Ter3BR,1BA$0.90
511 W High St1 BR1BR,1BA$0.81
2315 N Bigelow St, Unit A2315 N Bigelow St2BR,1BA$0.95
Covington Place2 BR/1.5BA - 2nd/3rd floor2BR,1.5BA$0.97
Stonecrest2 Bedroom2BR,1BA$1.06
Glen Willows2 Bedroom 1.5 Bathroom2BR,1.5BA$1.06
Hollybrook Apartments1 bedroom1BR,1BA$0.99
109 Stewart St, Unit 2109 Stewart St1BR,1BA$1.00
Linn St Commons1BR/1BA1BR,1BA$0.87
The Avenue Apartments1B/ 1BA1BR,1BA$1.06

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Pet Friendly Lifestyle
Downtown Peoria, Peoria, IL

Ranked #12

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, and customized analysis for Central Peoria, IL. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including rankings of the best places for the best outdoor access, luxury amenities, transit availability, pet-friendly communities, apartment complexes for the kids, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Downtown Peoria Neighborhood in Peoria, IL

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

56 / 100

Bikeable

Some bike infrastructure

Transit Score®

41 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap Downtown Peoria Apartments

What is the Cheapest Studio apartment in Downtown Peoria?

Currently the most affordable Cheap Studio Apartment in Downtown Peoria is at Civic Center Plaza Apartments listed at $803.

How much is rent for a Cheap One Bedroom Downtown Peoria Apartment?

The lowest price for a Cheap One Bedroom Downtown Peoria Apartment is $600 at Linn St Commons.

What is the lowest price for a Cheap Two Bedroom Downtown Peoria Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Peoria is starting from $750 at The Avenue Apartments.

What is the most affordable Downtown Peoria Three Bedroom Apartment?

The best deal on a cheap Downtown Peoria Three Bedroom Apartment rental is at 812 Lofts and starts from $1,625.

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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.