Cheap Homes for Rent in Peoria, IL from $500 (52 Rentals)

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property at 1803 W Main St

1803 W Main St

PeoriaIL61606
Showing Results 1-50, Page 1 of 2

Peoria, IL Local Guide

Cheapest Neighborhoods for Apartments in Peoria, IL

Pricing Updated: 04/11/2025

Current apartment rentals in the Peoria, IL area range in price from $575 to $3,500 with an overall median price of $1,512. The three Peoria neighborhoods with the lowest median rent pricing are Lyndale Road at $625, Oakcliff at $625, and Central South 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$1,000$62522
Oakcliff$1,000$62521
Central South$1,347$57575
North Peoria$1,375$600121
Windchime$1,375$61066
Joeanne Manor$1,387$60091
Oakbrook$1,387$61033
Willow Knolls$1,400$61034
Fairfax Addition$1,512$57581
Northmoore Hills$1,547$61080

Cheapest Available Peoria Apartments for Rent

 

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

Apartment ListingModel NameBed/BathPriced From
1711 N Peoria Ave1bed/1bath1BR,1BA$575
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
Crescent Creek Apartments1x11BR,1BA$750
Glen Oak Manor2BR/1.0BA2BR,1BA$750
Woods + Meadow ApartmentsStudio Apartment in North PeoriaStudio,1BA$750

Best Value Apartments for Rent in Peoria, IL

As of April 11, 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 2 BR/1.5BA - 2nd/3rd floor Model at Covington Place starting at $925 with a $0.97 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.
1512 E Gardner Ln3 Bed 1 Bath3BR,1BA$0.66
Covington Place2 BR/1.5BA - 2nd/3rd floor2BR,1.5BA$0.97
Glen Willows2 Bedroom 1.5 Bathroom2BR,1.5BA$1.06
Hollow Hills1 bedroom1BR,1BA$0.84
Crescent Creek Apartments1x11BR,1BA$0.88
Brighton Woods1Bed1Bath1BR,1BA$1.06
Hollybrook Apartments1 bedroom1BR,1BA$1.06
1711 N Peoria Ave1bed/1bath1BR,1BA$0.82
Linn St Commons1BR/1BA1BR,1BA$0.87
The Avenue Apartments1B/ 1BA1BR,1BA$1.06

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Frequently Asked Questions about Peoria

What type of rentals are currently available in Peoria?

There are currently 237 Apartments for Rent in Peoria, IL with pricing that ranges from $575 to $3,500. There are also 99 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peoria ranging from $550 to $3,750.

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 $550 to $3,750 with an average monthly rent of $1,378.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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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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.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.