Rentable.co has 5 apartments available for rent in 61605.
The average rent for an apartment in 61605 is around $830 per month.
Welcome to the December 2024 Peoria Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Peoria rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Peoria and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Peoria average rent prices in the chart below.
Peoria rent prices increased over the last month. From November to December, the city experienced a 2.48% increase for the price of a one-bedroom apartment. The rent price for a Peoria one-bedroom apartments currently stands at $1,155.0.
When we take a look at the two-bedroom comparison from November to December, Peoria experienced a 3.51% increase for the price of a two-bedroom apartment. The rent price for a Peoria two-bedroom apartments currently stands at $1,355.0.
Rent prices have increased in Peoria over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Peoria suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Peoria suburbs
Rent decreased in Pekin, IL.
1 suburb is currently priced lower than the city of Peoria.
Rent growth in Peoria over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Peoria average rent prices appear to be relatively affordable for local residents.
The price for a Peoria one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Peoria and surrounding area rent prices, take a look at the complete data set below.
| 1 BR December | 1 BR M/M % Change | 2 BR December | 2 BR M/M % Change | |
|---|---|---|---|---|
| Peoria, IL | $1,127.0 | 7.74% | $1,309.0 | 7.83% |
| Pekin, IL | $709.0 | -0.70% | $892.0 | 0.00% |
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.