Low Income Apartments and Affordable Housing For Rent in Peoria, IL

Discover affordable housing in Peoria where there are 51+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Glen Oak Towers Apartments

926 Main Street, Peoria, Illinois 61602

The Heartland Apartments

607 North Hightower Street, Peoria, Illinois 61605

River West

312 S Merriman St, Peoria, Illinois 61605

Dunlap Falls

6900 North Summershade Circle, Peoria, Illinois 61615

Parkview Estates

2401 N Gale Ave, Peoria, Illinois 61604

Oak Woods ( Ihda )

740 W Joan Ct, Peoria, Illinois 61614

Landmark Apartments

706 N Shipman Street, Peoria, Illinois 61605

Village Green Apartments

725 W Hurlburt St, Peoria, Illinois 61605

Parc Community Homes

1913 W Townline Rd, Peoria, Illinois 61615

GateWay at River City

518 West Romeo B Garrett Avenue, Peoria, Illinois 61605

New Hope Apartments

301 NE Jefferson Ave, Peoria, Illinois 61602

Galena Park Terrace Apartments

5533 N Galena Rd, Peoria, Illinois 61616

Harrison Homes South

2110 S Oregon St, Peoria, Illinois 61605

Bradford Woods Apartments

5100 N War Memorial Dr, Peoria, Illinois 61615

Bnai Brith II

415 W Sam Stone Ave, Peoria, Illinois 61605

Aspen Bluff Apartments

3604 W Marengo Dr, Peoria, Illinois 61604

St Sharbel Village

2914 W Scenic Dr, Peoria, Illinois 61615

Southside Manor

915 S Helen St, Peoria, Illinois 61605

Parc Apartments

4407 N Wilco Dr, Peoria, Illinois 61615

St Sharbel Apartments II

3001 W Lake Ave, Peoria, Illinois 61615

calendar_today Opened: Apr 15
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Peoria, Illinois
$18.28/hour
$4.28 (+31%) more than Illinois minimum wage and $11.03 (+152%) more than the Federal minimum wage.
Learn More About Peoria, Illinois Affordable Housing ↓

What HUD offices serve Peoria, Illinois?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Family Self-Sufficiency, Mainstream Voucher, Rental Assistance Demonstration (RAD), Homeownership, Non-Elderly Disabled (NED) Voucher programs for Peoria, Illinois.

Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Peoria.

How many renters live in Peoria, Illinois?

The City of Peoria has 109,221 people living in 47,488 households.

There are 42,110 renters living in 20,967 renter households in this City. Renters make up 38.55 percent of the population living in Peoria.

What is the rental market like in Peoria, Illinois?

There are an estimated 54,553 housing units in the Peoria area. Of these, 22,900 units are rental homes, making up 42 percent of the housing market. For every renter household in Peoria, Illinois, there are 1 rental units.

What is the vacancy rate for rentals in Peoria?

The rental vacancy rate in Peoria is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Peoria for each bedroom size?

Occupied Rental Units by Size in Peoria
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
1,230 6,208 8,762 3,702 1,186
Occupied Rental Units by Size in Peoria

A large number of apartments in Peoria have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Peoria are overburdened by housing costs?

Among renter households in this market, 47 percent have housing cost burden. Further, 27 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Peoria

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $683 to $1,293. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $683
One BR $756
Two BR $965
Three BR $1,258
Four BR $1,293
2024 Fair Market Rents in Peoria, Illinois

How many units are rented at Fair Market Rent (FMR) in Peoria?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 471 38 percent
One BR 3,496 56 percent
Two BR 4,224 48 percent
Rental Units Below FMR in Peoria, Illinois

How many affordable rental units are in Peoria?

There are a variety of federal affordable housing programs serving households in Peoria, Illinois including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 1,885
Public Housing 648
Section 8 Project-Based Rental Assistance 2,369
Section 202 Supportive Housing for the Elderly 140
Section 811 Supportive Housing for Persons with Disabilities 67
Tracked Units by Federal Program in Peoria, Illinois

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Peoria, Illinois

Peoria features 2,504 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Peoria, Illinois

There are 1,769 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Peoria.

Housing Choice Vouchers in Peoria, Illinois

On average, Section 8 Housing Choice vouchers pay Peoria landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Peoria.

The maximum amount a voucher would pay on behalf of a low-income tenant in Peoria, Illinois for a two-bedroom apartment is between $869 and $1,062.

Sourced from federal housing data and AffordableHousingOnline.com research.