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Studio Apartments for Rent in East Peoria, IL

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    Starting at $1,025 Per Month

    • Studio - 2 Beds

    500 Centennial Dr, East Peoria, IL 61611

    Welcome to The Current Apartments: Honoring the Past, Elevating Your Future. Discover where comfort meets unbeatable convenience in East Peoria. Perched gracefully on a hill overlooking the area's scenic beauty, The Current Apartments offers a truly unique living experience. We are proudly breathing new life into a prominent local property, transforming a former care facility into a vibrant,

    The Current Apartments

    500 Centennial Dr, East Peoria, IL 61611

Why Live in East Peoria

East Peoria, Illinois, is a small suburb along the Illinois River, just across from Peoria, with a population of about 23,000 residents. Many locals work for healthcare providers, Caterpillar, or the Par-A-Dice Hotel and Casino. The city features the Levee District, a mixed-use commercial area developed on a former Caterpillar site, offering chain restaurants and big-box retailers. Housing primarily consists of single-family homes, including bungalows and ranch-style houses, with recent developments in multi-family housing, such as a new apartment complex with an integrated parking deck. East Peoria boasts over 1,600 acres of parklands, including the Carl Spindler Campground and Marina, and the EastSide Centre sports complex. Popular outdoor activities include hiking, hunting, fishing, and boating along the Illinois River. The area is served by several school districts, with highly rated schools such as Washington Community High School District 308, Central School District 51, and Morton Community Unit School District 709. The Levee District is a hub for shopping and dining, featuring retailers like Target and Costco, and restaurants like Red Robin and Chipotle. East Peoria is safer than the national average for property crimes. Transportation options include Interstate 74, CityLink buses, and the General Wayne Downing Peoria International Airport, located 8 miles west. The city hosts the annual Festival of Lights and a weekly farmer’s market, adding to its local attractions.

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 $1,087 per month, though prices vary by neighborhood, size, and property type. As of July 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 $43,480 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 $1,087 per month in East Peoria, IL, renters typically need to show $3,261 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 14.6, 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 and North Peoria, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,087
Median Single Family Home Rent
$1,250
Median Condo Rent
$825
How to Rent a Home