Peoria DSCR Loans: Strong Rent to Price, One Question to Answer
Program and regulatory figures verified September 15, 2026. Details change; confirm your scenario with us.
Peoria gives you an 8% gross yield at an entry price well under half of Chicago's, which is a genuinely good screen. It also gives you a concentrated employment base, and any honest lender mentions that before you buy three of them.
Why the screen looks good
Typical value $174,841, typical rent $1,178, as of 2026-08-31. That is 8.08% gross, against Chicago at 7.42% and Nashville at 4.81%. At this entry price the same capital that buys one Chicago property buys two here, which changes the shape of a portfolio faster than a rate does.
The part to think about
A smaller metro with a concentrated employment base carries tenant-demand risk that a large diversified metro does not. That is not a reason to avoid Peoria. It is a reason to hold more reserve and to be realistic about vacancy assumptions rather than underwriting to a best case. We underwrite the rent the property actually commands today, which is the conservative way to look at it.
Taxes outside Cook
Peoria County does not classify, so property is valued at 33 1/3% of fair cash value and the Department of Revenue's average residential rate applies against that. Work it through and the tax line sits near 2.6% of market value before exemptions, and as an investor you get none of those exemptions. The full working is here.
Compare Peoria against the rest of the state on the market table, then see the programs.
Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content, not a loan commitment and not legal or tax advice. Assessment levels, the state equalization factor, county tax rates and city rental ordinances change, and the figures here carry the date we verified them. Confirm current requirements with the county assessor, the county clerk, your CPA, or an Illinois real estate attorney before you buy. Loans are subject to buyer and property qualification.