Department of Numbers

Peoria County Illinois Residential Rent and Rental Statistics

The median monthly gross residential rent in Peoria County IL was $734 in 2017 according to the Census ACS survey.1 Average gross rent in Peoria County was $775 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Peoria County median and average rent data will be released in September of 2019.

Data is also available below for Peoria County rental vacancy rates, Peoria County rent as a percent of median income and the fraction of renters in Peoria County.

Show dollars as: Nominal Real

Real Gross Rent in Peoria County Illinois (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Illinois Median Gross Rent $974 +0.93% +5.07%
Peoria County IL Median Gross Rent $734 -5.53% +0.96%

Peoria County IL Real Gross Rent Trends

Median gross rent for Peoria County peaked in real terms in 2015 at $795 and is now $61 (7.67%) lower. Average gross rent for Peoria County peaked in real terms in 2015 at $814 and is now $39 (4.79%) lower.

Real Gross Rent: Peoria County IL Median, Peoria County IL Average, Illinois Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Peoria County

Date US
Median
Illinois
Median
Peoria County IL
Median
Peoria County IL
Average
2017 $1,012 $974 $734 $775
2016 $996 $965 $777 $731
2015 $987 $963 $795 $814
2014 $956 $927 $727 $758
2013 $924 $904 $710 $716
2012 $912 $896 $702 $710
2011 $912 $900 $688 $722
2010 $927 $919 $736 $755
2009 $931 $915 $751 $732
2008 $947 $932 $726 $749
2007 $899 $892 $738 $759
2006 $909 $906 $742 $731

Peoria County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Peoria County Illinois was 14.86% according to Census ACS data.

Rental Vacancy Rate in Peoria County Illinois

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Illinois 7.02% +1.01% +0.49%
Peoria County IL 14.86% +6.99% +8.69%

Trends in Peoria County IL Rental Vacancy Rate

At 14.86%, Peoria County residential rental vacancy rate in 2017 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Peoria County IL, Illinois, US

Rental vacancy rate in Illinois

Historical Rental Vacancy Rate data for Peoria County

Date US Illinois Peoria County IL
2017 6.18% 7.02% 14.86%
2016 5.89% 6.01% 7.87%
2015 5.85% 6.21% 10.51%
2014 6.32% 6.53% 6.17%
2013 6.49% 6.16%
2012 6.77% 6.39% 4.26%
2011 7.40% 7.35%
2010 8.17% 7.66%
2009 8.43% 7.84%
2008 7.86% 6.87% 7.82%
2007 7.87% 7.69% 12.03%
2006 7.70% 8.69% 11.09%

Rent as a Fraction of Income

Using median household income data for Peoria County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Peoria County, median monthly gross rent as a fraction of median household income was 16.36% in 2017 according to the ACS.

Peoria County Illinois Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Illinois 18.55% -0.15% -0.35%
Peoria County IL 16.36% -1.30% +0.08%

Trends in Peoria County IL Rent as a Fraction of Income

The fraction of median Peoria County household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 17.66%. Since then it has fallen by 1.30% to 16.36%.

Fraction of Income towards Rent: Peoria County IL, Illinois, US

Percent of median household income going towards median monthly gross rent in Peoria County Illinois

Historical Data for Annual Rent as a Fraction of Income in Peoria County Illinois

Date US Illinois Peoria County IL
2017 20.13% 18.55% 16.36%
2016 20.43% 18.70% 17.66%
2015 20.63% 18.85% 17.23%
2014 20.89% 18.91% 16.27%
2013 20.78% 18.89% 16.89%
2012 20.65% 18.89% 17.57%
2011 20.70% 19.36% 16.09%
2010 20.50% 19.21% 16.16%
2009 20.12% 18.41% 17.35%
2008 19.00% 17.31% 15.31%
2007 18.66% 17.36% 16.67%
2006 18.90% 17.56% 16.36%

Renter Fraction in Peoria County Illinois

You can calculate the renter fraction in Peoria County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Peoria County as a fraction of total Peoria County households. In 2017 33.89% of households were renters according to Census ACS data.

Peoria County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Illinois 33.82% -0.92% -0.69%
Peoria County IL 33.89% -2.67% -0.71%

Trends in the Peoria County IL Renter Fraction

The Peoria County household renter fraction peaked in in 2013 at 36.94% and is now 3.05% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Peoria County IL, Illinois, US

Fraction of renters in Peoria County

History of Peoria County Renter Fraction

Date US Illinois Peoria County IL
2017 36.13% 33.82% 33.89%
2016 36.88% 34.74% 36.56%
2015 36.97% 34.72% 34.47%
2014 36.90% 34.51% 34.60%
2013 36.50% 34.06% 36.94%
2012 36.09% 33.40% 35.30%
2011 35.42% 32.65% 35.10%
2010 34.65% 32.27% 32.47%
2009 34.13% 32.00% 34.11%
2008 33.36% 30.73% 29.53%
2007 32.80% 29.94% 32.06%
2006 32.73% 30.12% 30.44%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.