Cheap Homes for Rent in Peoria, IL from $400 (42 Rentals)

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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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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.

Read Article

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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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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-42, Page 1 of 1

Peoria, IL Local Guide

Cheapest Neighborhoods for Apartments in Peoria, IL

Pricing Updated: 09/08/2025

Current apartment rentals in the Peoria, IL area range in price from $575 to $2,675 with an overall median price of $1,459. The three Peoria neighborhoods with the lowest median rent pricing are Lyndale Road at $575, Oakcliff at $575, and North Peoria at $575. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Peoria Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Lyndale Road$995$57550
Oakcliff$1,000$57558
North Peoria$1,150$575106
Sunset Hills$1,175$57556
West Peoria$1,175$57599
Central South$1,250$57571
Skyline Drive$1,287$65058
Averyville$1,300$57531
Fairfax Addition$1,300$57559
Joeanne Manor$1,335$69580

Cheapest Available Peoria Apartments for Rent

 

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

Apartment ListingModel NameBed/BathPriced From
Linn St Commons1BR/1BA1BR,1BA$600
The Avenue Apartments1B/ 1BA1BR,1BA$650
Knoxville Manor ApartmentsGarden Level1BR,1BA$675
Woods + Meadow ApartmentsStudio Apartment in North PeoriaStudio,1BA$695
Willow Knolls ApartmentsStudioStudio,1BA$700
Hollow HillsStudioStudio,1BA$700
Crescent Creek Apartments1x11BR,1BA$750
1512 E Gardner Ln3 Bed 1 Bath3BR,1BA$795
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$800

Best Value Apartments for Rent in Peoria, IL

As of September 08, 2025 the best value apartment in the Peoria area is the $0.66 price per square foot 3 Bed 1 Bath Model at 1512 E Gardner Ln in the in the Northmoor Knolls neighborhood starting from $795. The second greatest value Peoria apartment is the 1507 W Callender Ave Model at 1507 W Callender Ave, Unit 1507 Callender Unit B starting at $1,200 with a $1.05 price per square foot in the Averyville neighborhood. Here is today’s list of the best values for Peoria apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1512 E Gardner Ln3 Bed 1 Bath3BR,1BA$0.66
1507 W Callender Ave, Unit 1507 Callender Unit B1507 W Callender Ave3BR,1BA$1.05
Brighton Woods2Bed2Bath2BR,2BA$0.95
Covington Place2 BR/1.5BA - 2nd/3rd floor2BR,1.5BA$0.97
The Village on UniversityJames at Village South2BR,1BA$0.97
Versailles ApartmentsRoyal - 2BR / 1BA2BR,1BA$1.05
Crescent Creek Apartments1x11BR,1BA$0.88
Hollybrook Apartments1 bedroom1BR,1BA$1.03
109 Stewart St, Unit 3109 Stewart St1BR,1BA$1.03
Linn St Commons1BR/1BA1BR,1BA$0.87

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Peoria, IL
Population: 111,388

Ranked #270

in US Census Population by City

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Best Local Schools in
Peoria, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Peoria

What type of rentals are currently available in Peoria?

There are currently 236 Apartments for Rent in Peoria, IL with pricing that ranges from $575 to $2,675. There are also 103 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peoria ranging from $495 to $3,000.

What is the current price range for Rental Homes in Peoria?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Peoria ranges from $495 to $3,000 with an average monthly rent of $1,302.

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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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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

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.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.