Performance indicators for the Peoria short-term rental market based on reliable data.
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The highest-performing listings in Peoria.
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Generally Investor friendly
Peoria allows STRs with straightforward city licensing ($75/yr, 8% tax, online portal) but imposes a 3% density cap and unincorporated properties require Special Use Board approval, public hearings, and conditions; enforcement is active with $300 citations and costly penalties, and stricter caps are under discussion, making compliance feasible but not risk-free.
Local STR Agent
STR specialist · Peoria, IL
Peoria is a city in central Illinois and the seat of Peoria County, situated along the Illinois River where the waterway widens into a series of broad, flat-bottomed lakes. The city has a population of approximately 115,000 residents, with a metropolitan area roughly double that, and carries the steady, blue-collar character of a Midwestern manufacturing center long associated with heavy equipment, healthcare, and agricultural industry. It is perhaps best known as the longtime global headquarters of Caterpillar Inc. and as a gateway to the river towns and rolling farmland of central Illinois. Peoria lies roughly 170 miles southwest of Chicago and about 180 miles northeast of St. Louis, placing it within a comfortable half-day drive of both major hubs.
A few miles west of downtown, Wildlife Prairie Park sprawls across more than 2,000 acres of restored prairie and oak savanna, where visitors can drive through or walk among herds of bison, elk, and wolves in a setting designed to echo the landscape as it appeared in the early 19th century. The park also offers cabins, a small train, and zipline courses, making it a popular overnight destination for families traveling through central Illinois, about a 15-minute drive from the city center.
Just across the river in East Peoria lies the Par-A-Dice Hotel Casino, a riverboat-style gaming complex that anchors a cluster of restaurants, hotels, and entertainment venues. Combined with the adjacent shopping and dining at The Levee District and the nearby EastSide Centre sports complex, it draws visitors from across the region and provides a reliable indoor draw in any season, only minutes from downtown Peoria.
Downtown Peoria itself has been revitalized along the riverfront, where the Peoria Riverfront Museum combines art, history, and science exhibits under one roof, and the seasonal Spirit of Peoria paddlewheeler offers day and dinner cruises along the Illinois River. A short drive east, Grandview Drive — once called "the world's most beautiful drive" by President Theodore Roosevelt — climbs above the river through a neighborhood of early 20th-century homes, parks, and overlooks that still reward visitors with sweeping views over the water.
Together, these offerings give Peoria a layered appeal: a working river city with cultural institutions, family-friendly outdoor attractions, and easy access to both the Illinois prairie and the larger metropolitan draws of Chicago and St. Louis. For short-term rental owners, the mix of business travel, regional tourism, and a growing interest in Midwestern river cities suggests steady year-round demand from a visitor base that is broader than it might first appear.