Nordic Villa Apartments
3120 W Willow Knolls Dr,
Peoria, IL 61614
1-2 Beds | $825 - $1,100
Rental Market Trends in Peoria, IL
What is the average rent in Peoria, IL?
$920/month
Average Rent
691 Sq Ft
Average Apartment Size
+1.2%
Increase in the Last Year
As of March 2025, the average rent in Peoria, IL is $920 per month. This is 41% lower than the national average rent of $1,557/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 $856 per month for a studio, $920 for a one-bedroom apartment, and around $1,167 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,279 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 1.2%, which averages out to $11 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 March 2025
Legend
2024
2025
Rent Ranges in Peoria, IL
Last Updated March 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
27%
Below $700/month
31%
$700 - $1,000/month
35%
$1,001 - $1,500/month
8%
$1,501 - $2,000/month
0%
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, North Peoria and Downtown 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, Downtown Peoria, North Peoria and West 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, West Peoria and Downtown 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 $920, you’ll want to make about $3,066 per month or $36,792 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 7.8% lower than the national average. Generally, housing in Peoria is 22.9% less expensive than the national average, with rent falling between $856 - $1,279. You can expect to pay 1.8% less for groceries, 4.0% less for utilities, and 2.9% 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
$563/month
$1,056/month
One Bedroom
$705/month
$1,203/month
Two Bedroom
$1,024/month
$1,340/month
Three Bedroom
$775/month
$1,626/month
Nearby City Rent Trends
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Methodology
† 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.
* Percentages may not total 100 due to rounding.