Rentometer, Inc. | Data as of 10/22/2025
Peoria’s rental market offers a diverse mix of apartments and single‑family homes, catering to young professionals, families, and students alike. Downtown and the Riverfront districts are popular for sleek studio and one‑bedroom apartments, with average rents hovering around the $1,000 mark and median values just above that level. Larger two‑ and three‑bedroom units in these core neighborhoods typically sit in the low‑to‑mid $1,000 range, providing spacious options for growing households while still remaining affordable compared to many surrounding metros.
Beyond the city center, neighborhoods such as West Bluff, North Side, and the historic East Bluff provide a strong inventory of single‑family houses. One‑bedroom homes are commonly priced under $800, while two‑bedroom houses generally fall in the $1,000 bracket. Larger three‑ and four‑plus bedroom homes reach the $1,300 to $1,600 median range, making Peoria a practical choice for families seeking more room without sacrificing budget. The city’s proximity to the Illinois River, Peoria Zoo, and Riverfront Museum enhances the appeal of these residential areas, creating a balanced lifestyle of convenience and recreation.
Students attending the University of Illinois College of Medicine and nearby colleges also benefit from a robust selection of rental options, from affordable studios to shared house arrangements. With a blend of modern apartment complexes, charming historic homes, and easy access to cultural attractions, Peoria delivers a welcoming rental environment that supports a wide spectrum of living preferences while maintaining competitive price points throughout the market.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $960 | $965 | $575 - $1,550 | $710 - $1,200 |
| Apartment | 1 Bedroom | $1,057 | $975 | $575 - $2,100 | $800 - $1,293 |
| Apartment | 2 Bedroom | $1,127 | $1,012 | $650 - $1,850 | $900 - $1,450 |
| Apartment | 3 Bedroom | $1,299 | $1,300 | $725 - $2,162 | $835 - $1,725 |
| House | 1 Bedroom | $751 | $772 | $360 - $948 | $639 - $907 |
| House | 2 Bedroom | $1,005 | $972 | $495 - $2,200 | $850 - $1,150 |
| House | 3 Bedroom | $1,305 | $1,277 | $639 - $3,000 | $1,095 - $1,500 |
| House | 4+ Bedroom | $1,732 | $1,600 | $800 - $3,850 | $1,350 - $2,000 |
In the current period, the average rent in Peoria was $944 for Studio, $1,007 for 1 Bedroom, $1,047 for 2 Bedroom, $1,305 for 3 Bedroom, and $1,591 for 4+ Bedroom.
Data provided by Rentometer, Inc.