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City Report · IL

Peoria

Pop. 112,169·119th most expensive in Illinois·Peoria rents are up 10.4% over the past year
Median rent (all units)
$1,236/mo
Year-over-Year
+10.4%
Month-over-Month
+3.5%
vs US Median
-$729
Rising (Monthly)
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Most AffordableMost Expensive
Peoria · $1,236
More affordable than 91% of US cities · National median $1,965/mo
Rent Reality Score
39/100
Overpriced
OverheatedFairGreat value

Rents are 5% above what Peoria's 10-year trend predicts — running hotter than its own history.

Actual rent
$1,236/mo
Expected by trend
$1,172/mo
The Rent Reality Score compares today's median rent to where Peoria's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$738
1 BR
$813
2 BR
$1,033
3 BR
$1,340
4 BR+
$1,407
Research median
$1,033/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$14,832/yr
At $1,236/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 10.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+10.4% YoY, +3.5% MoM), not inventory.
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Demographics

Who lives here

Peoria, IL is majority owner-occupied, has a median income below the national average, 37.7% of residents hold a bachelor's degree or higher.

Population
112,169
Median income
$59,410
Median age
35.5
Renters
42.5%
Age distribution
24.4%
25%
23.6%
16.8%
Under 1824.4%
18–3425%
35–5423.6%
55–6410.2%
65+16.8%
Gender
47.9%
52.1%
Male47.9%
Female52.1%
Race & ethnicity
54.6%
25.8%
White54.6%
Black25.8%
Hispanic8%
Asian6.6%
Other5%
Education (25+)
25.7%
28.8%
37.7%
No HS diploma7.8%
HS diploma25.7%
Some college28.8%
Bachelor's+37.7%
Housing tenure
57.5%
42.5%
Owner57.5%
Renter42.5%

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

2021 vs 2026

How Peoria, IL has changed in 5 years

Rent
$747 → $1,236
up 65.5%
Income
$53,568 → $59,410
up 10.9%
Population
113,672 → 112,169
down 1.3%
Renter share
42.9% → 42.5%
-0.4 pts
Bachelor's+
37% → 37.7%
+0.7 pts

Rent in Peoria, IL has climbed 65.5% since 2021, going from about $747 per month to roughly $1,236 today. Census figures show median household income at $59,410 today, compared with $53,568 five years earlier. Rent outpaced income growth by roughly 54.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 113,672 to 112,169 between 2021 and 2024, a 1.3% change. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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

Can you afford rent in Peoria on your salary?

At $1,236/mo, how Peoria rent compares to typical pay (30% rule).

By apartment size

Peoria rent by bedroom count

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

Local insights

Tips for renters in Peoria

About renting in Peoria, IL

Last updated: July 20, 2026

The median rent in Peoria is $1,236/mo as of July 2026. A studio apartment averages $738/mo while a 2-bedroom runs $1,033/mo. One-bedroom apartments average $813/mo and 3-bedroom units go for $1,340/mo.

At 25% of local median household income ($59,410/yr), Peoria ranks as affordable compared to the national benchmark of 30%. Rents have increased 10.4% over the past year.

FAQ

Frequently asked questions

Is Peoria an affordable city for renters?

Peoria is considered affordable for renters. At $1,236/mo, rent takes approximately 25% of the local median household income ($59,410/yr). The standard benchmark is 30%. Peoria falls comfortably within that range.

How much income do you need to rent in Peoria?

To keep rent at or below 30% of gross income, you would need to earn at least $49,000/year (~$24/hour full-time) to afford the median rent of $1,236/mo in Peoria. The local median household income is $59,410/yr, meaning the typical Peoria household meets that threshold.

Is rent going up or down in Peoria?

Rent in Peoria has increased 10.4% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Peoria neighborhoods have the lowest rent?

The most affordable ZIP codes in Peoria are 61605 ($870/mo), 61604 ($996/mo), and 61603 ($1,184/mo). Citywide, the median rent in Peoria is $1,236/mo.

How does Peoria rent compare to other cities in Illinois?

Peoria is one of the more affordable cities in Illinois for rent, ranking #119 out of 142 tracked cities at $1,236/mo.

Which nearby cities are cheaper to rent in than Peoria?

Several nearby cities have lower median rents than Peoria ($1,236/mo): Pekin ($843/mo), East Peoria ($1,000/mo), Peoria Heights ($1,161/mo).

What percentage of Peoria residents rent vs. own?

According to Census data, approximately 42.5% of Peoria households are renters, while 57.5% are owner-occupied. Peoria leans toward homeownership, which can mean a smaller rental inventory.

How does Peoria rent compare to the national average?

Peoria's median rent of $1,236/mo is $729 (37%) below the US national median of $1,965/mo. Within Illinois, it ranks #119 out of 142 tracked cities.
Income Affordability
25%
AFFORDABLE

At $1,236/mo, rent takes ~25% of Peoria's median household income ($59,410/yr). The standard benchmark is 30%.

Peoria 25%Benchmark 30%
State income tax4.95%
Run the Peoria affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Peoria, IL

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