What's a good cap rate in Peoria?

In Peoria, cap rates typically run around 7.5% (Illinois state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Peoria deal lands versus this benchmark.

What's the average rent for a rental in Peoria?

A typical rental in Peoria runs about $1,039–$1,346/mo (HUD Fair Market Rent, 2–3BR). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Illinois?

Illinois's effective property tax rate is about 2.08% of value per year — the figure TrueCap applies by default for Peoria deals. You can override it with the exact local rate.

Peoria, IL

Peoria rental property analysis

Peoria is a deep-value Illinois cash-flow market — very low prices and healthy rent ratios, with a healthcare-and-manufacturing base.

Peoria market snapshot

Cash-flow market

Higher typical cap rates — built for monthly cash flow more than price growth.

Typical cap rate

7.5%

Illinois state median

Typical rent

$1,039–$1,346/mo

HUD FMR · 2–3BR · 2026

Typical price

$110,000–$180,000

est., all-in

Property tax

2.08%

Illinois effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Peoria a good place to buy rentals?

Strong cash-on-cash at low entry, but the local economy can be cyclical and Illinois taxes are high — model both. For yield-focused operators.

See the full Illinoisinvesting guide — taxes, landlord law & top metros →

Neighborhoods to look at in Peoria

North Peoria

More stable, desirable, reliable tenants.

West Peoria

Affordable, family renters.

Peoria Heights

Walkable, steady demand.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Peoria deal in 60 seconds

Paste a Peoria address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Illinois tax and HUD rent so you start from the right assumptions.

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