Cheap Apartments for Rent near Peru, IA from $545 (51 Rentals)

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Search the lowest-cost Apartments available for rent right now in Peru.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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The Bridges
1 to 2 Bedroom Apartments

The Bridges

1111 N 8th AveWinterset, IA 50273
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Peru, IA Local Guide

Cheapest Available Peru Apartments for Rent and Nearby

 

The cheapest available apartment rental in Peru, IA is a 1 Bed unit found at Next Level Apartments - Easton Village in the Easton Park neighborhood priced from $695. Foxwood Apartments in the Easton Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $701. Here is today’s list of the most affordable Peru apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Next Level Apartments - Easton VillageA11BR,1BA$695
Foxwood ApartmentsA21BR,1BA$701
Indianola Park II Apartments1BR Upper1BR,1BA$750
Indianola Park Apartments1BR Upper1BR,1BA$750
Sunset Apartments2bd, 1ba2BR,1BA$775
Dennis Park ApartmentsB12BR,1BA$813
Deer Run ApartmentsB12BR,1BA$821
Fish CreekB1 - Classic2BR,1BA$825
Linden East Apartments1 bed 1 bath1BR,1BA$875
Norwalk MeadowsB1 Classic2BR,1BA$875

Best Value Apartments for Rent in Peru, IA and Nearby

As of August 23, 2026 the best value apartment in the Peru area is the $1.13 price per square foot Platinum Pointe - 4 Bed Model at Platinum Pointe Townhomes in the in the Dallas County neighborhood starting from $2,700. The second greatest value Peru apartment is the 3 Bed 2 Bath Loft 1612 sq ft Model at West Glen Town Center Apartments starting at $1,750 with a $1.09 price per square foot in the Sun Prairie neighborhood. Here is today’s list of the best values for Peru apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Platinum Pointe TownhomesPlatinum Pointe - 4 Bed4BR,3BA$1.13
West Glen Town Center Apartments3 Bed 2 Bath Loft 1612 sq ft3BR,2.5BA$1.09
High PointeVail2BR,2BA$1.03
Osceola Heights by KadingVilla3BR,1BA$1.00
Sunset Terrace2 bed 2 bath2BR,2BA$1.13
Sunset Apartments2bd, 1ba2BR,1BA$0.94
Dennis Park ApartmentsB12BR,1BA$1.02
Deer Run ApartmentsB12BR,1BA$1.03
Next Level Apartments - Easton VillageA11BR,1BA$1.07
Foxwood ApartmentsA11BR,1BA$1.12

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Peru Apartments

How much is rent for a Cheap One Bedroom Peru Apartment?

The lowest price for a Cheap One Bedroom Peru Apartment is $695 at Next Level Apartments - Easton Village.

What is the lowest price for a Cheap Two Bedroom Peru Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Peru is starting from $765 at Next Level Apartments - Easton Village.

What is the most affordable Peru Three Bedroom Apartment?

The best deal on a cheap Peru Three Bedroom Apartment rental is at Osceola Heights by Kading and starts from $1,010.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.