Cheap Apartments for Rent in the Lincoln Park Neighborhood of Peoria, IL from $500 (37 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Lincoln Park 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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Madison Links Apartments
1 to 2 Bedroom Apartments

Madison Links Apartments

2405 Martin Luther King Jr DrPeoria, IL 61604
  • Utilities Included
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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

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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Sandmeyer Flats
Studio to 2 Bedroom Apartments

Sandmeyer Flats

601-607 NW Bryan StPeoria, IL 61603
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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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Schlarman House
1 Bedroom Apartments

Schlarman House

707 Madison Ave NEPeoria, IL 61603
Senior Living
  • Utilities Included
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511 W High St
1 to 2 Bedroom Apartments

511 W High St

511 W High StPeoria, IL 61606
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Twin Towers Place
1 to 3 Bedroom Apartments

Twin Towers Place

123 SW Jefferson AvePeoria, IL 61602
  • Utilities Included
  • Smoke Free

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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1107 Pekin Ave
1 Bedroom Apartments

1107 Pekin Ave

1107 Pekin AveCreve Coeur, IL 61610
Showing Results 1-37, Page 1 of 1

Lincoln Park, Peoria, IL Local Guide

Cheapest Available Lincoln Park Apartments for Rent

 

The cheapest available apartment rental in the Lincoln Park 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 Lincoln Park apartments for rent in Peoria, IL:

Apartment ListingModel NameBed/BathPriced From
107 NE Roanoke AveStudioStudio,1BA$750
The Avenue Apartments1B/ 1BA1BR,1BA$795
Civic Center Plaza ApartmentsStudioStudio,1BA$825
502 W High St1 Bedroom1BR,1BA$900
511 W High St1 BR1BR,1BA$950
812 LoftsStudioStudio,1BA$1,050
EMR Apartments1/1 Standard1BR,1BA$1,050
Winkler LoftsStudio/LoftStudio,1BA$1,095
Magnolia LoftsStudioStudio,1BA$1,100
Winkler PlaceStudio Loft1BR,1BA$1,125

Best Value Apartments for Rent in Lincoln Park, IL

As of May 23, 2026 the best value apartment in the Lincoln Park 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 Lincoln Park apartment is the One bedroom Model at Adams & Oak starting at $1,500 with a $1.71 price per square foot in the Moss Bradley neighborhood. Here is today’s list of the best values for Lincoln Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
501 W Columbia Ter501 W Columbia Ter3BR,1BA$0.93
Adams & OakOne bedroom1BR,1BA$1.71
502 W High St1 Bedroom1BR,1BA$1.03
Adams Street Center1 Bed 1 Bath1BR,1BA$1.92
511 W High St1 BR1BR,1BA$1.19
Winkler Place1BD 1BTH1BR,1BA$1.59
The Avenue Apartments1B/ 1BA1BR,1BA$1.29
Civic Center Plaza ApartmentsStudioStudio ,1BA$1.38
Magnolia LoftsStudioStudio ,1BA$2.00
107 NE Roanoke AveStudioStudio ,1BA$1.36

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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Quick Rent Budget Calculator

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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Best Local Schools in
Lincoln Park, Peoria, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Lincoln Park Apartments

What is the Cheapest Studio apartment in Lincoln Park?

Currently the most affordable Cheap Studio Apartment in Lincoln Park is at 107 NE Roanoke Ave listed at $750.

How much is rent for a Cheap One Bedroom Lincoln Park Apartment?

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

What is the lowest price for a Cheap Two Bedroom Lincoln Park Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lincoln Park is starting from $850 at The Avenue Apartments.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

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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.

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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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.