Peoria County Illinois Residential Rent and Rental Statistics
The median monthly gross residential rent in Peoria County IL was $750 in 2019 according to the Census ACS survey.1 Average gross rent in Peoria County was $750 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Peoria County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Peoria County Illinois (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Illinois Median Gross Rent | $1,020 | +0.69% | +2.51% |
| Peoria County IL Median Gross Rent | $750 | -7.75% | -6.37% |
Peoria County IL Real Gross Rent Trends
Median gross rent for Peoria County peaked in real terms in 2015 at $820 and is now $70 (8.54%) lower. Average gross rent for Peoria County peaked in real terms in 2015 at $839 and is now $89 (10.61%) lower.
Real Gross Rent: Peoria County IL Median, Peoria County IL Average, Illinois Median, US Median
Real Gross Rent History for Peoria County
| Date | US Median |
Illinois Median |
Peoria County IL Median |
Peoria County IL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,020 | $750 | $750 |
| 2018 | $1,077 | $1,013 | $813 | $833 |
| 2017 | $1,043 | $1,004 | $757 | $799 |
| 2016 | $1,027 | $995 | $801 | $754 |
| 2015 | $1,017 | $993 | $820 | $839 |
| 2014 | $986 | $955 | $750 | $781 |
| 2013 | $953 | $932 | $732 | $738 |
| 2012 | $940 | $923 | $723 | $732 |
| 2011 | $941 | $928 | $710 | $744 |
| 2010 | $955 | $948 | $759 | $779 |
| 2009 | $960 | $944 | $774 | $754 |
| 2007 | $927 | $920 | $761 | $782 |
| 2005 | $910 | $918 | $739 | $723 |
Peoria County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Peoria County Illinois was 8.22% according to Census ACS data.
Rental Vacancy Rate in Peoria County Illinois
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Illinois | 5.65% | -0.67% | -0.36% |
| Peoria County IL | 8.22% | — | +0.35% |
Trends in Peoria County IL Rental Vacancy Rate
The rental vacancy rate in Peoria County peaked in 2017 at 14.86%. Since then it has fallen by 6.64% to 8.22%. Data records for this series originated in 2005.
Rental Vacancy Rate: Peoria County IL, Illinois, US
Historical Rental Vacancy Rate data for Peoria County
| Date | US | Illinois | Peoria County IL |
|---|---|---|---|
| 2019 | 5.97% | 5.65% | 8.22% |
| 2018 | 6.15% | 6.32% | — |
| 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% | — |
| 2007 | 7.87% | 7.69% | 12.03% |
| 2005 | 7.74% | 9.45% | — |
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 15.72% in 2019 according to the ACS.
Peoria County Illinois Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Illinois | 17.69% | -0.67% | -1.01% |
| Peoria County IL | 15.72% | -1.36% | -1.94% |
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 1.94% to 15.72%.
Fraction of Income towards Rent: Peoria County IL, Illinois, US
Historical Data for Annual Rent as a Fraction of Income in Peoria County Illinois
| Date | US | Illinois | Peoria County IL |
|---|---|---|---|
| 2019 | 20.03% | 17.69% | 15.72% |
| 2018 | 20.50% | 18.36% | 17.08% |
| 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% |
| 2007 | 18.66% | 17.36% | 16.67% |
| 2005 | 18.89% | 17.52% | 16.01% |
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 2019 32.38% of households were renters according to Census ACS data.
Peoria County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Illinois | 33.99% | -0.02% | -0.75% |
| Peoria County IL | 32.38% | -3.91% | -4.18% |
Trends in the Peoria County IL Renter Fraction
The Peoria County household renter fraction peaked in in 2013 at 36.94% and is now 4.56% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Peoria County IL, Illinois, US
History of Peoria County Renter Fraction
| Date | US | Illinois | Peoria County IL |
|---|---|---|---|
| 2019 | 35.89% | 33.99% | 32.38% |
| 2018 | 36.05% | 34.01% | 36.29% |
| 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% |
| 2007 | 32.80% | 29.94% | 32.06% |
| 2005 | 33.10% | 30.13% | 29.69% |
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. ↩
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