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City Report · IL

Pekin

Pop. 31,781·136th most expensive in Illinois·One of the most affordable rental markets in the US
Median rent (all units)
$926/mo
Year-over-Year
Stable
Month-over-Month
+9.8%
vs US Median
-$1,036
Rising (Monthly)
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Most AffordableMost Expensive
Pekin · $926
More affordable than 99% of US cities · National median $1,962/mo
Affordability
18% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $926/mo, rent takes about 18% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$37,000/yr
Local median income
$60,790/yr
Based on the 30%-of-income rule using Pekin's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$660
1 BR
$720
2 BR
$920
3 BR
$1,190
4 BR+
$1,250
Fair Market Rent (HUD)
$920/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $926 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$11,112/yr
At $926/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +9.8% MoM), not inventory.
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Demographics

Who lives here

Pekin, IL is majority owner-occupied, has a median income below the national average, 17.9% of residents hold a bachelor's degree or higher.

Population
31,781
Median income
$60,790
Median age
41.9
Renters
31.6%
Age distribution
19.4%
22.3%
24.5%
14.4%
19.4%
Under 1819.4%
18–3422.3%
35–5424.5%
55–6414.4%
65+19.4%
Gender
52%
48%
Male52%
Female48%
Race & ethnicity
90.7%
White90.7%
Black3.5%
Hispanic3.1%
Asian0.7%
Other2%
Education (25+)
38.1%
35%
17.9%
No HS diploma9%
HS diploma38.1%
Some college35%
Bachelor's+17.9%
Housing tenure
68.4%
31.6%
Owner68.4%
Renter31.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Pekin, IL has changed in 5 years

Income
$50,838 → $60,790
up 19.6%
Population
32,398 → 31,781
down 1.9%
Renter share
32.9% → 31.6%
-1.3 pts
Bachelor's+
19% → 17.9%
-1.1 pts

Local incomes tracked alongside that move, going from a median of $50,838 in 2021 to $60,790 more recently. The population has contracted by 1.9% since 2021, moving from about 32,398 residents to roughly 31,781.

Community

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View Pekin rent history (2015–2026) →
Salary vs rent

Can you afford rent in Pekin on your salary?

At $926/mo, how Pekin rent compares to typical pay (30% rule).

By apartment size

Pekin rent by bedroom count

Median rent for each apartment size in Pekin. Click any size for full breakdown.

Local insights

Tips for renters in Pekin

About renting in Pekin, IL

Last updated: August 17, 2026

The median rent in Pekin is $926/mo as of August 2026. A studio apartment averages $660/mo while a 2-bedroom runs $920/mo. One-bedroom apartments average $720/mo and 3-bedroom units go for $1,190/mo.

At 18% of local median household income ($60,790/yr), Pekin ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Pekin an affordable city for renters?

Pekin is considered very affordable for renters. At $926/mo, rent takes approximately 18% of the local median household income ($60,790/yr). The standard benchmark is 30%. Pekin falls comfortably within that range.

How much income do you need to rent in Pekin?

To keep rent at or below 30% of gross income, you would need to earn at least $37,000/year (~$18/hour full-time) to afford the median rent of $926/mo in Pekin. The local median household income is $60,790/yr, meaning the typical Pekin household meets that threshold.

Is rent going up or down in Pekin?

Rent in Pekin has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Pekin rent compare to other cities in Illinois?

Pekin is one of the more affordable cities in Illinois for rent, ranking #136 out of 142 tracked cities at $926/mo.

What percentage of Pekin residents rent vs. own?

According to Census data, approximately 31.6% of Pekin households are renters, while 68.4% are owner-occupied. Pekin leans toward homeownership, which can mean a smaller rental inventory.

How does Pekin rent compare to the national average?

Pekin's median rent of $926/mo is $1,036 (53%) below the US national median of $1,962/mo. Within Illinois, it ranks #136 out of 142 tracked cities.
Income Affordability
18%
VERY AFFORDABLE

At $926/mo, rent takes ~18% of Pekin's median household income ($60,790/yr). The standard benchmark is 30%.

Pekin 18%Benchmark 30%
State income tax4.95%
Run the Pekin affordability calculator →
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Neighborhoods

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Schools nearby

Public schools near Pekin, IL

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