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Peoria Apartments For Rent

Peoria is the seventh largest city in Illinois, with about 113,000 people and the center of a metropolitan area of some 372,000 people. Peoria is best known as an "average" American city, because of its demographic makeup and the suggestion that is popular in the media that Midwestern values somehow represent the "mainstream" of American opinion and taste. Peoria is home to the Caterpillar Incorporated, the manufacturer of heavy construction equipment and one of the thirty corporations that make up the Dow Jones Industrial Average index.

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The medical industry plays a major role in the local economy and the city has invested a lot into making it a very pleasant place to live.

Peoria is a city of single member households, with more than fifty percent of all households within the city limits being comprised of one person. Probably related to this is the fact that an overwhelming majority of residences have only one bedroom and cost less than $600 per month. According to the U.S. Department of Housing and Urban Development (HUD), the Fair Market Rent (FMR) for a one bedroom in Peoria for 2010 is $556, while the FMR for a studio is $470 and for a four bedroom is $1,012. Roughly forty percent of residents within the city limits rent as opposed to own their homes, according to the U.S. Census 2006-2008 American Community Survey 3-Year Estimates.

In 2005, Peoria was ranked as number 51 out of 331 metropolitan areas as one of the best places to live, based on it having low cost of living, low cost of housing, and attractive residential areas. Further Peoria regularly ranks as one of the most polite and well mannered American cities. On average, most people in Peoria make under $30,000, but this also means it has a very low cost of living and can be an excellent place to raise a family. Most apartments are older, with very few new units being built since 1990, but most of the units remain in good shape and entirely livable.