Rent Tracker
Rent Inflation in Peoria, IL
The average asking rent in Peoria, IL is $1,178/month as of 2026-08. That is +5.4% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,178/mo
as of 2026-08
Year-over-Year Change
+5.4%
24-Month Rent Trend
Monthly ZORI index values for Peoria, IL.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,178 | +0.17% |
| 2026-07 | $1,176 | +1.03% |
| 2026-06 | $1,164 | +0.43% |
| 2026-05 | $1,159 | +0.61% |
| 2026-04 | $1,152 | -1.29% |
| 2026-03 | $1,167 | +0.95% |
| 2026-02 | $1,156 | +1.14% |
| 2026-01 | $1,143 | +1.69% |
| 2025-12 | $1,124 | -0.35% |
| 2025-11 | $1,128 | -0.18% |
| 2025-10 | $1,130 | +0.62% |
| 2025-09 | $1,123 | +0.45% |
| 2025-08 | $1,118 | +0.72% |
| 2025-07 | $1,110 | -0.27% |
| 2025-06 | $1,113 | -0.63% |
| 2025-05 | $1,120 | +0.00% |
| 2025-04 | $1,120 | +1.36% |
| 2025-03 | $1,105 | +2.03% |
| 2025-02 | $1,083 | +1.12% |
| 2025-01 | $1,071 | +0.56% |
| 2024-12 | $1,065 | +0.00% |
| 2024-11 | $1,065 | +0.85% |
| 2024-10 | $1,056 | -0.47% |
| 2024-09 | $1,061 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices