Rents are right about where Peoria's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,240 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 →
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in Peoria usually run 0.6% below trend in December and 0.7% above it in July, about $16 a month apart at today's median. Based on 10 years of data.
Rent in Peoria is 0.2% below its high of $1,242 in August 2026, at $1,240 as of September 2026.
Rent in Peoria changed +3.9% over the year to September 2026. Across the 94 Illinois cities Zillow tracks, the typical change was +4.0%.
From 2019 to 2024, rent in Peoria rose 48% while median household income rose 14.8% ($51,771 to $59,410). Rent outpaced income.
Rent in Peoria is 57.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 8 of the last 12 months.
30% of the median household income ($59,410) is $1,485 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,407).
The priciest of 5 ZIP codes in Peoria, 61615 ($1,598/mo), costs 1.9 times the cheapest, 61605 ($856/mo).
East Peoria, 5 miles away, rents for 29% less ($885/mo), about $4,300 a year in savings.
From Zillow's monthly rent index (ZORI) for Peoria. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Peoria, IL has changed in 5 years
Rent in Peoria, IL has climbed 52.1% since 2021, going from about $815 per month to roughly $1,240 today. Census figures show median household income at $59,410 today, compared with $53,568 five years earlier. Rent outpaced income growth by roughly 41.2 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.
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Can you afford rent in Peoria on your salary?
At $1,240/mo, how Peoria rent compares to typical pay (30% rule).
Peoria rent by bedroom count
Median rent for each apartment size in Peoria. Click any size for full breakdown.
Tips for renters in Peoria
Last updated: October 17, 2026
The median rent in Peoria is $1,240/mo as of October 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 3.9% over the past year.
Frequently asked questions
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At $1,240/mo, rent takes ~25% of Peoria's median household income ($59,410/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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