Cheap Homes for Rent in Downtown Peoria Neighborhood of Peoria, IL from $500 (33 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Peoria area of Peoria.

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Downtown Peoria, Peoria, IL Local Guide

Cheapest Available Downtown Peoria Apartments for Rent

 

The cheapest available apartment rental in the Downtown Peoria area of Peoria, IL is a 1 Bed unit found at 1711 N Peoria Ave priced from $575. Linn St Commons has the second lowest priced unit, which is a 1 Bed apartment currently listed from $600. Here are the most affordable Downtown Peoria apartments for rent in Peoria, IL:

Apartment ListingModel NameBed/BathPriced From
1711 N Peoria Ave1bed/1bath1BR,1BA$575
Linn St Commons1BR/1BA1BR,1BA$600
The Avenue Apartments1B/ 1BA1BR,1BA$650
1107 Pekin AveMulti-Family1BR,1BA$650
Knoxville Manor ApartmentsGarden Level1BR,1BA$675
Glen Oak Manor2BR/1.0BA2BR,1BA$800
Civic Center Plaza ApartmentsStudioStudio,1BA$803
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
Hollybrook Apartments1 bedroom1BR,1BA$825
Westporte ApartmentsWP1B1BR,1BA$850

Best Value Apartments for Rent in Downtown Peoria, IL

As of April 17, 2025 the best value apartment in the Downtown 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 Downtown Peoria apartment is the 2 Bedroom 2 Bath Model at Brandywine Crossing Apartments starting at $1,050 with a $1.11 price per square foot in the Averyville neighborhood. Here is today’s list of the best values for Downtown 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
Brandywine Crossing Apartments2 Bedroom 2 Bath2BR,2BA$1.11
Glen Willows2 Bedroom 1.5 Bathroom2BR,1.5BA$1.06
Hollybrook Apartments1 bedroom1BR,1BA$1.06
1711 N Peoria Ave1bed/1bath1BR,1BA$0.82
Crestwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.18
Linn St Commons1BR/1BA1BR,1BA$0.87
Glen Oak Manor2BR/1.0BA2BR,1BA$1.23
The Avenue Apartments1B/ 1BA1BR,1BA$1.06
Civic Center Plaza ApartmentsStudioStudio ,1BA$1.34

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Frequently Asked Questions about Downtown Peoria

What type of rentals are currently available in Downtown Peoria?

There are currently 144 Apartments for Rent in Downtown Peoria, IL with pricing that ranges from $575 to $3,200. There are also 81 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Peoria ranging from $550 to $3,200.

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 $550 to $3,200 with an average monthly rent of $1,228.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.