Chic Apartments
1029 SW Adams St,
Peoria, IL 61605
$1,695 - $2,100
1-2 Beds
Rental Market Trends in Peoria, IL
What is the average rent in Peoria, IL?
$1,026/month
Average Rent
678 Sq Ft
Average Apartment Size
+3.4%
Increase in the Last Year
As of April 2026, the average rent in Peoria, IL is $1,026 per month. This is 37% lower than the national average rent of $1,641/month, making renting in Peoria more affordable than most cities in the US. When you rent an apartment in Peoria, you can expect to pay about $868 per month for a studio, $1,026 for a one-bedroom apartment, and around $1,233 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,303 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Peoria, IL?
In the past year, rent has increased by 3.4%, which averages out to $36 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2026
Legend
2025
2026
Rent Ranges in Peoria, IL
Last Updated April 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
20%
Below $700/month
31%
$700 - $1,000/month
38%
$1,001 - $1,500/month
9%
$1,501 - $2,000/month
2%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Peoria?
Based on current rent prices, West Peoria, Williamsburg Estates and North 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, Warehouse Historic District, Mount Hawley Manor and Downtown 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 $1,026, you’ll want to make about $3,420 per month or $41,040 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 4.3% lower than the national average. Generally, housing in Peoria is 18.3% less expensive than the national average, with rent falling between $868 - $1,303. You can expect to pay 0.3% less for groceries, 3.7% more for utilities, and 4.4% 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.
Studio
$567/month
-
One Bedroom
$790/month
-
Two Bedroom
$1,051/month
-
Three Bedroom
$771/month
-
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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 February 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.