2710 W Antoinette St
PeoriaIL61605
Cheap Homes for Rent in the Downtown Peoria Neighborhood of Peoria, IL from $500 (30 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Peoria area of Peoria.
422 S Louisa St
PeoriaIL61605
1806 N Peoria Ave
PeoriaIL61603
505 E Virginia Ave
PeoriaIL61603
824 W Mac Queen Ave
PeoriaIL61604
1400 S Westmoreland Ave
PeoriaIL61605
609 Tracy St
PeoriaIL61603
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.
715 W Thrush Ave
PeoriaIL61604
412 E Arcadia Ave
PeoriaIL61603
1615 S Arago St
PeoriaIL61605
400 E Thrush Ave
PeoriaIL61603
1515 W Callender Ave
PeoriaIL61606
1829 S Stanley St
PeoriaIL61605
1006 E Behrends Ave
PeoriaIL61603
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.
112 E Maywood Ave
PeoriaIL61603
1220 W John H Gwynn Jr Ave
PeoriaIL61605
1714 S Livingston St
PeoriaIL61605
1610 S Lydia Ave
PeoriaIL61605
911 N Sheridan Rd
PeoriaIL61606
1714 NE Monroe St
PeoriaIL61603
526 Fairholm 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.
2006 N Bigelow St
PeoriaIL61604
730 E McClure Ave
PeoriaIL61603
1411 W Barker Ave
PeoriaIL61606
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$9501 Bedroom Apartments Available Now
4028 N Illinois Ave, Unit 4
4028 N Illinois AvePeoria Heights, IL 61616
419 E Maywood Ave
PeoriaIL61603
308 E Virginia 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.
627 Fairholm Ave
PeoriaIL61603
3912 N New York Ave
PeoriaIL61614
Showing Results 1-30, 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 | $1,022 | $515 | $2,295 |
| Downtown Peoria 3 Bedroom Homes for Rent | $1,232 | $680 | $1,750 |
| Downtown Peoria 4 Bedroom Homes for Rent | $1,305 | $528 | $1,800 |
| Downtown Peoria 6 Bedroom Homes for Rent | $4,500 | $4,500 | $4,500 |
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 30 rentals with your search options within a 1 mile radius of the Downtown Peoria Neighborhood of Peoria, IL.
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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 2 Beds unit found at Cityscape priced from $711. Knoxville Manor Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here are the most affordable Downtown Peoria apartments for rent in Peoria, IL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Cityscape | 2 Bedroom | 2BR,2BA | $711 |
| Knoxville Manor Apartments | Level 2 | 1BR,1BA | $775 |
| The Avenue Apartments | 1B/ 1BA | 1BR,1BA | $795 |
| Hollybrook Apartments | 1 bedroom | 1BR,1BA | $825 |
| Crestwood Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $825 |
| Civic Center Plaza Apartments | Studio | Studio,1BA | $825 |
| Brandywine Crossing Apartments | 1 Bedroom G | 1BR,1BA | $876 |
| Glen Willows | 2 Bedroom 1 Bathroom | 2BR,1BA | $925 |
| EMR Apartments | 1/1 Standard | 1BR,1BA | $963 |
Best Value Apartments for Rent in Downtown Peoria, IL
As of July 12, 2026 the best value apartment in the Downtown Peoria 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 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. |
|---|---|---|---|
| 107 NE Roanoke Ave | 3 Bedroom | 3BR,1BA | $1.27 |
| Covington Court Apartments | CC2BR | 2BR,2BA | $1.26 |
| Cityscape | 2 Bedroom | 2BR,2BA | $0.70 |
| 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 |
| 2213 W Reservoir Blvd, Unit 2213 | 2213 W Reservoir Blvd | 2BR,1BA | $1.27 |
| Hollybrook Apartments | 1 bedroom | 1BR,1BA | $1.06 |
| Crestwood Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.18 |
| Brandywine Crossing Apartments | 1 Bedroom G | 1BR,1BA | $1.35 |
| 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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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 147 Apartments for Rent in Downtown Peoria, IL with pricing that ranges from $547 to $2,675. There are also 81 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Peoria ranging from $225 to $4,500.
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 $225 to $4,500 with an average monthly rent of $1,723.
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 $680 to $1,750. Four Bedroom Single-Family rentals are also available starting from $528 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
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.
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.
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.
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.