Cheap Apartments for Rent in the Fairfax Addition Neighborhood of Peoria, IL from $400 (72 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Fairfax Addition 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.

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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.

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property at 1411 W Barker Ave

$950 - $1,200

Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,200
Total Monthly Price
$950 - $1,200

2 To 3 Bedroom Homes for Rent

Available Now

1411 W Barker Ave

PeoriaIL61606
property at 611 Phelps St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

611 Phelps St

PeoriaIL61603
property at 627 Fairholm Ave

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

627 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.

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International Place
Studio to 2 Bedroom Apartments

International Place

6500 N University StPeoria, IL 61614
  • Utilities Included
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Pine Hill
1 to 2 Bedroom Apartments

Pine Hill

806-808 W Pine Hill LnPeoria, IL 61614
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Richwoods Plaza
1 to 2 Bedroom Apartments

Richwoods Plaza

6709 N University StPeoria, IL 61614
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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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Linn St Commons
1 Bedroom Apartments

Linn St Commons

2112-2117 N Linn StPeoria, IL 61604
  • 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.

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Tiffany Pointe
Studio to 2 Bedroom Apartments

Tiffany Pointe

1508 W Tiffany DrPeoria, IL 61614
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Woods + Meadow Apartments
Studio to 1 Bedroom Apartments

Woods + Meadow Apartments

2215 W Willow Knolls DrPeoria, IL 61614
Corporate Housing
  • Utilities Included
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Sandmeyer Flats
Studio to 2 Bedroom Apartments

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603
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Kellar Commons
1 to 2 Bedroom Apartments

Kellar Commons

6517 N Lexington DrPeoria, IL 61614
  • 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.

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Showing Results 1-50, Page 1 of 2

Fairfax Addition, Peoria, IL Local Guide

Cheapest Available Fairfax Addition Apartments for Rent

 

The cheapest available apartment rental in the Fairfax Addition area of Peoria, IL is a Studio unit found at The Village on University priced from $725. Willow Knolls Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable Fairfax Addition apartments for rent in Peoria, IL:

Apartment ListingModel NameBed/BathPriced From
The Village on UniversityAnderson at Village SouthStudio,1BA$725
Willow Knolls ApartmentsStudioStudio,1BA$750
The Avenue Apartments1B/ 1BA1BR,1BA$795
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
Hollybrook Apartments1 bedroom1BR,1BA$825
Versailles ApartmentsTradition - 1BR / 1BA1BR,1BA$880
Knoxville Manor ApartmentsLevel 21BR,1BA$900
Glen Willows2 Bedroom 1 Bathroom2BR,1BA$925
Carriage Hill Apartments2 Beds, 1 Baths2BR,1BA$950
EMR Apartments1/1 Standard1BR,1BA$963

Best Value Apartments for Rent in Fairfax Addition, IL

As of June 14, 2026 the best value apartment in the Fairfax Addition 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 Fairfax Addition apartment is the 1319 W Daytona Dr Model at 1319 W Daytona Dr, Unit 1 starting at $1,350 with a $0.90 price per square foot in the Northmoor Knolls neighborhood. Here is today’s list of the best values for Fairfax Addition apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
501 W Columbia Ter501 W Columbia Ter3BR,1BA$0.93
1319 W Daytona Dr, Unit 11319 W Daytona Dr2BR,2BA$0.90
Camden Hills Apartments2 Bedroom, 2 Bath2BR,2BA$1.23
Carriage Hill Apartments2 Beds, 1 Baths2BR,1BA$0.95
Covington Place2BR/1.5BA Signature In Unit Wash/Dryer2BR,1.5BA$1.15
Brandywine Crossing Apartments2 Bedroom 2 Bath G2BR,2BA$1.09
Glen Willows2 Bedroom 1 Bathroom2BR,1BA$1.06
Versailles ApartmentsTradition - 1BR / 1BA1BR,1BA$1.13
Hollybrook Apartments1 bedroom1BR,1BA$1.06
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.18

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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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
Fairfax Addition, Peoria, IL

Ranked #5

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
Fairfax Addition, Peoria, IL

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com is happy to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States and customized analysis for Central Peoria. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, transit availability, pet-friendly communities, family-friendliness, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Fairfax Addition Apartments

What is the Cheapest Studio apartment in Fairfax Addition?

Currently the most affordable Cheap Studio Apartment in Fairfax Addition is at The Village on University listed at $725.

How much is rent for a Cheap One Bedroom Fairfax Addition Apartment?

The lowest price for a Cheap One Bedroom Fairfax Addition Apartment is $795 at The Avenue Apartments.

What is the lowest price for a Cheap Two Bedroom Fairfax Addition Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Fairfax Addition is starting from $850 at Crestwood Apartments.

What is the most affordable Fairfax Addition Three Bedroom Apartment?

The best deal on a cheap Fairfax Addition Three Bedroom Apartment rental is at 107 NE Roanoke Ave and starts from $1,525.

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.

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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.

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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.