Chic Apartments
1029 SW Adams St,
Peoria, IL 61605
1-2 Beds | $1,695 - $2,000
Rental Market Trends in Peoria, IL
Updated August 2026
The average rent in Peoria, IL is $1,052/month.
Rent in Peoria is 37% lower than the national average rent of $1,664/month, making this one of the less expensive cities statewide.
$1,052/month
Average Rent
688 Sq Ft
Average Size
+4.8%
Change / Year
638
Available Apartments
Peoria rent varies by unit size and layout:
- Studio apartments in Peoria average $868 per month.
- One-bedroom apartments in Peoria average $1,052 per month.
- Two-bedroom apartments in Peoria average $1,264 per month.
- Three-bedroom apartments in Peoria average $1,270 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Peoria, IL?
In the past year, rent has increased by 4.8%, which averages out to $51 more per month.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in Peoria, IL
August 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
19%
Below $700/month
30%
$700 - $1,000/month
34%
$1,001 - $1,500/month
15%
$1,501 - $2,000/month
2%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Peoria?
Based on current rent prices, West Peoria, North Peoria and Downtown Peoria are the most affordable neighborhoods in Peoria.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Peoria?
Based on current rent prices, Downtown Peoria, North Peoria and West Peoria are the most expensive neighborhoods in Peoria.
Neighborhood
Average Rent
Average Sq Ft
Which Peoria neighborhoods have the most rentals available?
The neighborhoods in Peoria with the most apartments available are North Peoria, Downtown Peoria and West Peoria .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Peoria, IL?
Because the average rent in Peoria is $1,052, you’ll want to make about $3,506 per month or $42,072 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Peoria, IL is 5.2% lower than the national average. Generally, housing in Peoria is 18.9% less expensive than the national average, with rent falling between $868 - $1,270. You can expect to pay 0.8% less for groceries, 4.8% more for utilities, and 3.2% more for transportation.
How does Peoria, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Peoria, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Peoria Area GuideStudio
$735/month
$1,043/month
One Bedroom
$763/month
$1,390/month
Two Bedroom
$1,061/month
$1,538/month
Three Bedroom
$772/month
$1,766/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Peoria We Think You'll Love
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Frequently Asked Questions
What is the average rent in Peoria?
The average rent in Peoria is $1,052 per month, which is 36.8% lower than the national average of $1,664.
What is the average rent for a house in Peoria?
The average rent for a house in Peoria, IL is $1,544 per month.
What is the average rent for a townhome in Peoria?
The average rent for a townhome in Peoria, IL is $1,453 per month.
Are rents going up or down in Peoria?
Rents in Peoria, IL are increasing, with prices up 4.8% year-over-year and $51 more per month.
What rent range is most common in Peoria?
In Peoria, IL, 34% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.