Starting at $1,025 Per Month
- Studio - 1 Bed
500 Centennial Dr, East Peoria, IL 61611
The Current Apartments
Frequently Asked Questions
How much does it cost to rent a home in East Peoria, IL?
The median rent for a home in East Peoria, IL is $847 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in East Peoria, IL?
To comfortably afford the median rent in East Peoria, IL, a household needs to earn roughly $33,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $847 per month in East Peoria, IL, renters typically need to show $2,541 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in East Peoria, IL?
In East Peoria, IL, the price-to-rent ratio is 17.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in East Peoria, IL are best for renting a home?
The best neighborhood for renting in East Peoria, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Downtown Peoria, West Bluff, Hillcrest, North Peoria and Lexington Hills, each with its own character and price range.
