7

Peotone, IL Homes for Rent

Section Image
  • /9

    $1,250 Per Month

    • 2 Beds
    • 1 Bath
    • 1,000 Sq Ft
    • Apartment for Rent

    Unlisted Address

    First floor, fully remodeled featuring new kitchen, new bathroom and new LVP flooring throughout. Two generously sized bedrooms. Laundry on site located on second floor. Water included with rent. Quick access to I-57.

    Michelle Ward Coldwell Banker Real Estate Group

    Unlisted Address
  • /18

    $1,600 Per Month

    • 3 Beds
    • 1 Bath
    • 1,000 Sq Ft
    • Condo for Rent

    29837 Il-50, Peotone, IL 60468

    Come check out the newly remodeled North Peotone Apartment complex!! No expense was spared to make this community the best on the south side!! There are laundry facilities on site. Grilling area. Plenty of parking. We have multiple units that are now available for immediate occupancy. Studio, 1 bedrooms, and 2 bedrooms. All units have been updated with new flooring, paint, appliances and more.

    29837 Il-50, Peotone, IL 60468
  • /15

    $1,600 Per Month

    • 3 Beds
    • 1 Bath
    • 1,000 Sq Ft
    • Apartment for Rent

    29837 S Route 50 Unit 27, Peotone, IL 60468

    Limited-Time Special: In support of those affected by the recent storms, we're pleased to offer flexible leasing options at this property, including month-to-month, 3-month, and 6-month terms. Contact us today to learn more about this special opportunity. Beware: We do not advertise properties on Craigslist, Facebook Marketplace, or other classified advertising websites. If you believe one of our

    Gino Picciola Chase Real Estate LLC

    29837 S Route 50 Unit 27, Peotone, IL 60468
  • /14

    $1,000 Per Month

    • 1 Bed
    • 1 Bath
    • 700 Sq Ft
    • Condo for Rent

    29837 Il-50, Peotone, IL 60468

    Come check out the newly remodeled North Peotone Apartment complex!! No expense was spared to make this community the best on the south side!! There are laundry facilities on site. Grilling area. Plenty of parking. We have multiple units that are now available for immediate occupancy. Studio, 1 bedrooms, and 2 bedrooms. All units have been updated with new flooring, paint, appliances and more.

    29837 Il-50, Peotone, IL 60468
  • /7

    $1,400 Per Month

    • 2 Beds
    • 1 Bath
    • 800 Sq Ft
    • Apartment for Rent

    29837 Illinois 50 Unit E6, Peotone, IL 60468

    Limited-Time Special: In support of those affected by the recent storms, we're pleased to offer flexible leasing options at this property, including month-to-month, 3-month, and 6-month terms. Contact us today to learn more about this special opportunity. Beware: We do not advertise properties on Craigslist, Facebook Marketplace, or other classified advertising websites. If you believe one of our

    Gino Picciola Chase Real Estate LLC

    29837 Illinois 50 Unit E6, Peotone, IL 60468
  • /16

    $1,400 Per Month

    • 2 Beds
    • 1 Bath
    • 800 Sq Ft
    • Condo for Rent

    29837 Il-50, Peotone, IL 60468

    Come check out the newly remodeled North Peotone Apartment complex!! No expense was spared to make this community the best on the south side!! There are laundry facilities on site. Grilling area. Plenty of parking. We have multiple units that are now available for immediate occupancy. Studio, 1 bedrooms, and 2 bedrooms. All units have been updated with new flooring, paint, appliances and more.

    29837 Il-50, Peotone, IL 60468
  • /14

    $1,000 Per Month

    • 1 Bed
    • 1 Bath
    • 700 Sq Ft
    • Apartment for Rent

    29837 S Route 50 Unit 5, Peotone, IL 60468

    Limited-Time Special: In support of those affected by the recent storms, we're pleased to offer flexible leasing options at this property, including month-to-month, 3-month, and 6-month terms. Contact us today to learn more about this special opportunity. Beware: We do not advertise properties on Craigslist, Facebook Marketplace, or other classified advertising websites. If you believe one of our

    Gino Picciola Chase Real Estate LLC

    29837 S Route 50 Unit 5, Peotone, IL 60468

Why Live in Peotone

Peotone, located about 46 miles south of Chicago in Illinois, is a village in the rural far south suburbs known for its agricultural surroundings and small-town feel. The village features a variety of home styles, including late-19th and early 20th-century Victorians, farmhouses, American Foursquares, ranch-style homes, split-levels, and contemporary designs. Most residential lots have driveways, sidewalks, and shade trees, contributing to its walkable nature. Peotone's historical significance is highlighted by the Peotone Mill, a windmill built in 1872 now serving as a museum, and the village's small historical district. The Old Mill Fall Fest, an annual event, celebrates this heritage with music, antiques, and historically themed demonstrations. Downtown Peotone offers a range of businesses and dining options, including Cornerstone Coffee House, Corner Cafe, and Game On! Bar & Grill, which hosts various social events. For sweet treats, Archy’s Sweet Treats and Dolomiti provide ice cream and artisanal foods. The Peotone Park District offers amenities such as a playground, skate park, and walking trails, while the Will County Fairgrounds host events like the Will County Fair and Haunted Hollows Fest. Though Peotone lacks passenger rail services, it is accessible via State Route 50 and Interstate 57. The proposed South Suburban Airport remains a topic of debate, with environmental concerns and an uncertain future. The Peotone Community Unit School District serves local students, with schools receiving moderate ratings.

Frequently Asked Questions

How much does it cost to rent a home in Peotone, IL?
The median rent for a home in Peotone, IL is $1,400 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 Peotone, IL?
To comfortably afford the median rent in Peotone, IL, a household needs to earn roughly $56,000 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 $1,400 per month in Peotone, IL, renters typically need to show $4,200 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 Peotone, IL?
In Peotone, IL, the price-to-rent ratio is 19.3, 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 Peotone, IL are best for renting a home?
The best neighborhood for renting in Peotone, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Goodenow, Old Matteson and West Matteson, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
7
Median Rent
$1,400
Median Single Family Home Rent
$1,250
Median Condo Rent
$1,200
How to Rent a Home