Cheap Homes for Rent in Peoria, IL from $400 (37 Rentals)

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Peoria, IL Local Guide

Cheapest Neighborhoods for Apartments in Peoria, IL

Pricing Updated: 04/21/2025

Current apartment rentals in the Peoria, IL area range in price from $450 to $3,750 with an overall median price of $2,011. The three Peoria neighborhoods with the lowest median rent pricing are Near Northside at $595, East Bluff NHS at $639, and East Bluff United at $639. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Peoria Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Near Northside$922$59516
East Bluff NHS$1,074$63923
East Bluff United$1,177$63930
Detweiller Marina$1,204$55042
Olde Towne North$1,204$63914
Lyndale Road$1,479$1,1007
Northmoore Hills$1,560$9509
Oakcliff$1,560$1,1005
Joeanne Manor$1,630$7505
Willow Knolls$1,700$1,7001

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
Knoxville Manor ApartmentsGarden Level1BR,1BA$675
Woods + Meadow ApartmentsStudio Apartment in North PeoriaStudio,1BA$750
Crescent Creek Apartments1x11BR,1BA$750
The Village on UniversityAnderson at Village SouthStudio,1BA$775
Hollow Hills1 bedroom1BR,1BA$795
1512 E Gardner Ln3 Bed 1 Bath3BR,1BA$795

Best Value Apartments for Rent in Peoria, IL

As of April 21, 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$0.92
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 234 Apartments for Rent in Peoria, IL with pricing that ranges from $575 to $3,200. There are also 92 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peoria ranging from $450 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 $450 to $3,750 with an average monthly rent of $1,243.

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.