2209 West Krause Avenue
PeoriaIL61605
Cheap Homes for Rent in Downtown Peoria Neighborhood of Peoria, IL from $400 (34 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Peoria area of Peoria.
422 S Louisa St
PeoriaIL61605
1104 W Smith St
PeoriaIL61605
2807 W Nevada St
PeoriaIL61605
824 W Mac Queen Ave
PeoriaIL61604
505 E Virginia Ave
PeoriaIL61603
1220 W John H Gwynn Jr Ave
PeoriaIL61605
1516 S Lydia Ave
PeoriaIL61605
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.
1613 W Kettelle St
PeoriaIL61605
4012 N Boulevard Ave
Peoria HeightsIL61616
2121 N Prospect Rd
PeoriaIL61603
1829 S Stanley St
PeoriaIL61605
1531 S Lydia Ave
PeoriaIL61605
1117 NE Glendale Ave
PeoriaIL61603
911 N Sheridan Rd
PeoriaIL61606
1904 W Proctor St
PeoriaIL61605
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.
1610 S Lydia Ave
PeoriaIL61605
811 E Lake Ave
Peoria HeightsIL61616
412 E Arcadia Ave
PeoriaIL61603
1806 N Peoria Ave
PeoriaIL61603
526 Fairholm Ave
PeoriaIL61603
1811 W Millman St
PeoriaIL61605
2211 N Flora Ave
PeoriaIL61604
308 E Archer Ave
PeoriaIL61603
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.
905 W Thrush Ave
PeoriaIL61604
1411 W Barker Ave
PeoriaIL61606
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$9501 Bedroom Apartments Available Now
4028 N Illinois Ave
4028 N Illinois AvePeoria Heights, IL 61616
1714 NE Monroe St
PeoriaIL61603
611 Phelps St
PeoriaIL61603
319 W Nebraska Ave
PeoriaIL61604
627 Fairholm Ave
PeoriaIL61603
617 E Republic St
PeoriaIL61603
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.
2408 W Reservoir Blvd
PeoriaIL61604
2207 N Ellis St
PeoriaIL61604
Showing Results 1-34, Page 1 of 1
Downtown Peoria, Peoria, IL Local Guide
How much does it cost to rent a home in Downtown Peoria?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Peoria 2 Bedroom Homes for Rent | $1,042 | $400 | $2,295 |
| Downtown Peoria 3 Bedroom Homes for Rent | $1,189 | $745 | $1,750 |
| Downtown Peoria 4 Bedroom Homes for Rent | $1,263 | $590 | $2,100 |
| Downtown Peoria 5 Bedroom Homes for Rent | $1,500 | $1,500 | $1,500 |
| Downtown Peoria 6 Bedroom Homes for Rent | $2,800 | $2,800 | $2,800 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 34 rentals with your search options within a 1 mile radius of the Downtown Peoria Neighborhood of Peoria, IL.
Explore Peoria
Downtown Peoria, Peoria, IL Local Guide
- Nearby Peoria neighborhoods
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Cheapest Available Downtown Peoria Apartments for Rent
The cheapest available apartment rental in the Downtown Peoria area of Peoria, IL is a Studio unit found at 107 NE Roanoke Ave priced from $750. The Avenue Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $795. Here are the most affordable Downtown Peoria apartments for rent in Peoria, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 107 NE Roanoke Ave | Studio | Studio,1BA | $750 |
| The Avenue Apartments | 1B/ 1BA | 1BR,1BA | $795 |
| Crestwood Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $825 |
| Hollybrook Apartments | 1 bedroom | 1BR,1BA | $825 |
| Civic Center Plaza Apartments | Studio | Studio,1BA | $825 |
| Forrest Edge Apartments | 2 bed 1.5 bath | 2BR,1BA | $875 |
| Brandywine Crossing Apartments | 1 Bedroom G | 1BR,1BA | $876 |
| Knoxville Manor Apartments | Level 2 | 1BR,1BA | $900 |
| 502 W High St | 1 Bedroom | 1BR,1BA | $900 |
| Glen Willows | 2 Bedroom 1 Bathroom | 2BR,1BA | $925 |
Best Value Apartments for Rent in Downtown Peoria, IL
As of May 28, 2026 the best value apartment in the Downtown Peoria 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 Downtown Peoria apartment is the CC2BR Model at Covington Court Apartments starting at $1,295 with a $1.26 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for Downtown Peoria apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 501 W Columbia Ter | 501 W Columbia Ter | 3BR,1BA | $0.93 |
| Covington Court Apartments | CC2BR | 2BR,2BA | $1.26 |
| Carriage Hill Apartments | 2 Beds, 1 Baths | 2BR,1BA | $0.95 |
| Covington Place | 2BR/1.5BA Signature In Unit Wash/Dryer | 2BR,1.5BA | $1.15 |
| Glen Willows | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.06 |
| 502 W High St | 1 Bedroom | 1BR,1BA | $1.03 |
| Westporte Apartments | WP2B | 2BR,1BA | $1.27 |
| Hollybrook Apartments | 1 bedroom | 1BR,1BA | $1.06 |
| Crestwood Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.18 |
| The Avenue Apartments | 1B/ 1BA | 1BR,1BA | $1.29 |
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
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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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 LifestyleDowntown Peoria, Peoria, IL
Ranked #3
Among cities in Illinois for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown Peoria, Peoria, IL
School data provided by Great Schools
Frequently Asked Questions about Downtown Peoria
What type of rentals are currently available in Downtown Peoria?
There are currently 151 Apartments for Rent in Downtown Peoria, IL with pricing that ranges from $547 to $2,675. There are also 86 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Peoria ranging from $400 to $2,800.
What is the current price range for Rental Homes in Downtown Peoria?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Peoria ranges from $400 to $2,800 with an average monthly rent of $1,403.
How much are larger Three and Four Bedroom Rentals in Downtown Peoria?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Peoria range from $620 to $1,800, while Three Bedroom Homes, Condos, and Townhomes for rent range from $745 to $1,750. Four Bedroom Single-Family rentals are also available starting from $590 and Four Bedroom Apartments start at $630.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.