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.
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.
