Peoria, IL MSA
FY 2026 HUD Fair Market Rents for the Peoria, IL MSA metro area. Population: 368,011.
Fair Market Rents (2026)
Studio
National avg: $893
$758/mo
↑ 15.0% YoY
-15% vs US
1 Bedroom
National avg: $959
$818/mo
↑ 23.4% YoY
-15% vs US
2 Bedroom
National avg: $1,175
$1,039/mo
↑ 19.4% YoY
-12% vs US
3 Bedroom
National avg: $1,525
$1,346/mo
↑ 12.2% YoY
-12% vs US
4 Bedroom
National avg: $1,756
$1,449/mo
↑ 14.5% YoY
-17% vs US
Year-over-Year Comparison
| Bedrooms | FY 2025 | FY 2026 | Change |
|---|---|---|---|
| Studio | $659 | $758 | +$99 (+15.0%) |
| 1 Bedroom | $663 | $818 | +$155 (+23.4%) |
| 2 Bedroom | $870 | $1,039 | +$169 (+19.4%) |
| 3 Bedroom | $1,200 | $1,346 | +$146 (+12.2%) |
| 4 Bedroom | $1,266 | $1,449 | +$183 (+14.5%) |
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Required annual income for 1 BR
$32,720
$2,727/month gross
Required annual income for 2 BR
$41,560
$3,463/month gross
Data source: U.S. Department of Housing and Urban Development, FY 2026 Fair Market Rents. Fair Market Rents represent the 40th percentile of gross rents for standard quality units in each area.