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RentData.org Logo Peoria Fair Market Rent FY 2021 Peoria, IL MSA Rental Data

Fair Market Rent Prices in Peoria, IL :
$631 $675 $858 $1,108 $1,181
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Peoria are average compared to the national average. This FMR area is more expensive than 72% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Peoria is $858 per month.

The previous year, rent for a two-bedroom home was $772 per month. This is a 11.14% increase year-over-year.

This FMR rate applies to Camp Grove, IL, Speer, IL, La Rose, IL, Magnolia, IL, Varna, IL, Edelstein, IL, Sparland, IL, Toluca, IL, Washburn, IL, Minonk, IL and other cities within the region. The Metro Code or CBSA code for this region is METRO37900M37900.

Additionally, This Fair Market Rent (FMR) area Peoria, IL MSA spans one county or city in Illinois which is listed in the table below. Estimated population of Peoria, IL MSA FMR area is 11,925 people based on latest Census data.

Compared to the rest of Illinois, the Peoria FMR area is more expensive than 88% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Peoria. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Peoria

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 675
1-BR 1-Bedroom $ 722
2-BR 2-Bedroom $ 918
3-BR 3-Bedroom $ 1186
4-BR 4-Bedroom $ 1263
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

There is just one county (listed below) within the Peoria, IL MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Peoria - Bloomington.

County / Region Est. Population
Peoria, IL Metro 11,925
Zip Codes in Peoria, IL MSA

There are 13 unique zip codes in this Fair Market Rent (FMR) area:

61336, 61369, 61375, 61424, 61479, 61523, 61526, 61537, 61540, 61541, 61565, 61570 and 61760

Lookup Fair Market Rent by Zip Code

What's Next?

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