The Grove Apartments
1526 W Candletree Dr,
Peoria, IL 61614
1-3 Beds | $1,060 - 1,750
Rental Market Trends in Peoria, IL
What is the average rent in Peoria, IL?
$915/month
Average Rent
690 Sq Ft
Average Apartment Size
+3.2%
Increase in the Last Year
As of November 2024, the average rent in Peoria, IL is $915 per month. This is 41% lower than the national average rent of $1,559/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 $842 per month for a studio, $915 for a one-bedroom apartment, and around $1,117 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,218 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 3.2%, which averages out to $30 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 November 2024
Legend
2023
2024
Rent Ranges in Peoria, IL
Last Updated November 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
28%
Below $700/month
31%
$700 - $1,000/month
33%
$1,001 - $1,500/month
7%
$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 $915, you’ll want to make about $3,050 per month or $36,600 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.
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
$562/month
$1,044/month
One Bedroom
$690/month
$1,202/month
Two Bedroom
$721/month
$1,339/month
Three Bedroom
$697/month
$1,626/month
Nearby City Rent Trends
Apartment communities in Peoria we think you'll love
Property Management Companies in Peoria, IL
Professional Leasing Services
-
20
Communities
-
1,270
Units
-
3
Cities
18 Communities in Peoria
Leman Property Management Company
-
11
Communities
-
825
Units
-
5
Cities
4 Communities in Peoria
Edward Rose & Sons
-
140
Communities
-
70,877
Units
-
86
Cities
3 Communities in Peoria
Dietz Property Group
-
45
Communities
-
8,570
Units
-
30
Cities
2 Communities in Peoria
PMR Companies
-
39
Communities
-
6,312
Units
-
18
Cities
2 Communities in Peoria
Fairlawn Real Estate
-
28
Communities
-
3,690
Units
-
12
Cities
2 Communities in Peoria
PRE/3
-
176
Communities
-
13,838
Units
-
114
Cities
1 Community in Peoria
Retirement Housing Foundation
-
30
Communities
-
3,139
Units
-
27
Cities
1 Community in Peoria
Learn more with helpful articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
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.