Cheap Apartments for Rent in Peoria, IL from $400 (77 Rentals)

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

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International Place
Studio to 2 Bedroom Apartments

International Place

6500 N University StPeoria, IL 61614
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Brookview Apartments
1 to 2 Bedroom Apartments

Brookview Apartments

2820 W War Memorial DrPeoria, IL 61615
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Pine Hill
1 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 Apartments

1833 N Wisconsin Ave

1833 N Wisconsin AvePeoria, IL 61603
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Madison Links Apartments
1 to 2 Bedroom Apartments

Madison Links Apartments

2405 Martin Luther King Jr DrPeoria, IL 61604
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Golfview Apartments
1 to 3 Bedroom Apartments

Golfview Apartments

2317-2331 Martin Luther King Jr DrPeoria, IL 61604
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Briargate Apartments
1 to 2 Bedroom Apartments

Briargate Apartments

7217 N University StPeoria, IL 61614
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Peoria, IL Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Peoria, IL

Pricing Updated: 03/23/2025

Current apartment rentals in the Peoria, IL area range in price from $575 to $3,501 with an overall median price of $1,607. The three Peoria neighborhoods with the lowest median rent pricing are Lyndale Road at $625, Oakcliff at $625, and North Peoria at $600. 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$1,000$6251081
Oakcliff$1,000$6251070
North Peoria$1,350$6006502
Windchime$1,350$6104391
Fairfax Addition$1,400$5753609
Joeanne Manor$1,400$6005289
Willow Knolls$1,400$6102579
Oakbrook$1,450$6102721
Northmoore Hills$1,547$6104453
Northmoor Knolls$1,547$6104261

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. Willow Knolls Apartments in the Northmoor Knolls neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $610. Here is today’s list of the most affordable Peoria apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Linn St Commons1BR/1BA1BR,1BA$600
Willow Knolls ApartmentsStudioStudio,1BA$610
The Avenue Apartments1B/ 1BA1BR,1BA$650
1107 Pekin AveMulti-Family1BR,1BA$650
Knoxville Manor ApartmentsGarden Level1BR,1BA$675
Hollow Hills1 bedroom1BR,1BA$725
Woods + Meadow ApartmentsStudio Apartment in North PeoriaStudio,1BA$725
Old Orchard Trace ApartmentsOO1G1BR,1BA$750
Crescent Creek Apartments1x11BR,1BA$750
Haymeadow ApartmentsSpringhouse1BR,1BA$799

Best Value Apartments for Rent in Peoria, IL

As of March 23, 2025 the best value apartment in the Peoria area is the $0.97 price per square foot 2 BR/1.5BA - 2nd/3rd floor Model at Covington Place in the in the Northmoor Knolls neighborhood starting from $925. The second greatest value Peoria apartment is the 2 Bedroom 1.5 Bathroom Model at Glen Willows starting at $950 with a $1.06 price per square foot in the Northmoor Knolls 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.
Covington Place2 BR/1.5BA - 2nd/3rd floor2BR,1.5BA$0.97
Glen Willows2 Bedroom 1.5 Bathroom2BR,1.5BA$1.06
1702 W Tiffany Ct, Unit #31702 W Tiffany Ct2BR,1BA$0.94
Hollow Hills1 bedroom1BR,1BA$0.84
Hillcrest Apartments2 BR / 1 BA2BR,1BA$1.09
Crescent Creek Apartments1x11BR,1BA$0.88
Brighton Woods1Bed1Bath1BR,1BA$1.06
Linn St Commons1BR/1BA1BR,1BA$0.87
The Avenue Apartments1B/ 1BA1BR,1BA$1.06
1107 Pekin AveMulti-Family1BR,1BA$1.08

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Peoria Overview

If you are looking for a new place to call home, Peoria, IL might just be calling your name. With numerous landmarks, beautiful weather, and scenic views, you are sure to feel right at home in no time. While looking into a apartments in Peoria, take note of some of the reasons that living in the city is a great idea.

Why live in Peoria, IL?

Peoria is a fantastic place to live, with many opportunities for entertainment. The city is the largest on the Illinois River, with beautiful views. There are no shortage of places to get in your outdoor fix and experience nature around the city, with over 9000 acres in parks. Peoria is also Illinois’s oldest urbanized area. If you are someone who values pleasant fellow residents, Peoria ranks high on the Top 10 Best Mannered Cities for the entire nation on a consistent basis, so you are sure to make a few new friends in no time. Additionally, if you are looking to further your education, you need look no further, as the opportunities abound.

Best Local Schools in
Peoria, IL

School data provided by Great Schools

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

Explore Peoria, IL Rentals by Map

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See the most popular apartments and homes in Peoria, IL

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Getting Around Peoria, IL

Walk Score®

49 / 100

Car-Dependent

Most errands require a car

Bike Score®

46 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

31 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Peoria Apartments

What is a cheap apartment in Peoria?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Peoria is under $799.

What is the price of a cheap apartment in Peoria?

The cheapest apartment in Peoria is Linn St Commons which is listed at $600, while the average apartment in Peoria costs $1,607.

What types of apartments are the cheapest in Peoria?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 1,936 regular apartments in Peoria that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Peoria?

Cheap apartments in Peoria have an average cost of $177 which is $1,430 cheaper than the average rent for all rentals in Peoria.

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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