Cheap Apartments for Rent in Peru, IA from $500 (52 Rentals)

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

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Alice Place at Norwalk
Rent Specials
$650 - $1,350
Total Monthly Price

Total Monthly Price

Base Rent
$650 - $1,350
Total Monthly Price
$650 - $1,350
Studio to 2 Bedroom Apartments Available Now

Alice Place at Norwalk

9310 Marketplace DrNorwalk, IA 50211
Senior Living
  • Verified
  • Utilities Included
  • Low Income
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Foxwood Apartments
Rent Specials
$717 - $1,110
Total Monthly Price

Total Monthly Price

Base Rent
$709 - $1,102
Required Monthly Fees
$8
Total Monthly Price
$717 - $1,110
Studio to 2 Bedroom Apartments Available Now

Foxwood Apartments

1001-1007 W 3rd AveIndianola, IA 50125
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  • Customer Reviewed
  • 3D Tour
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Sunset Apartments
$725 - $825
Total Monthly Price

Total Monthly Price

Base Rent
$673 - $773
Required Monthly Fees
$52
Total Monthly Price
$725 - $825
Studio to 2 Bedroom Apartments Available Now

Sunset Apartments

1113 Main StNorwalk, IA 50211
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  • Utilities Included
  • Smoke Free
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Fountain Terrace
$795 - $1,595
Total Monthly Price

Total Monthly Price

Base Rent
$680 - $1,480
Required Monthly Fees
$115
Total Monthly Price
$795 - $1,595
Studio to 3 Bedroom Apartments Available Now

Fountain Terrace

655 S 88th StWest Des Moines, IA 50266
Furnished
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  • Utilities Included
  • 3D Tour
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Fish Creek
$825 - $1,175
Total Monthly Price

Total Monthly Price

Base Rent
$792 - $1,142
Required Monthly Fees
$33
Total Monthly Price
$825 - $1,175
1 to 3 Bedroom Apartments Available Now

Fish Creek

817-1619 E 17th StNorwalk, IA 50211
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  • Customer Reviewed
  • 3D Tour

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Linden West
$1,100 - $1,300
Total Monthly Price

Total Monthly Price

Base Rent
$1,080 - $1,280
Required Monthly Fees
$20
Total Monthly Price
$1,100 - $1,300
2 Bedroom Apartments Available Now

Linden West

1203 W 2nd AveIndianola, IA 50125
Furnished
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  • Customer Reviewed
  • Utilities Included
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Watermark at Jordan Creek
Rent Specials
$1,169 - $2,292
Total Monthly Price

Total Monthly Price

Base Rent
$1,159 - $2,282
Required Monthly Fees
$10
Total Monthly Price
$1,169 - $2,292
1 to 3 Bedroom Apartments Available Now

Watermark at Jordan Creek

6455 Galleria DrWest Des Moines, IA 50266
Student Housing
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  • Customer Reviewed
  • 3D Tour

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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The Middlebrook Lofts
$1,275 - $1,875
Total Monthly Price

Total Monthly Price

Base Rent
$1,110 - $1,710
Required Monthly Fees
Varies
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

The Middlebrook Lofts

1107 S 44th StCumming, IA 50061
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  • Utilities Included
  • 3D Tour
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Indianola Park 2
1 to 2 Bedroom Apartments

Indianola Park 2

905 N 15th StIndianola, IA 50125
  • Utilities Included
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The Bridges
1 to 2 Bedroom Apartments

The Bridges

1111 N 8th AveWinterset, IA 50273
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Indianola Park 1
1 to 2 Bedroom Apartments

Indianola Park 1

902 N 14th StIndianola, IA 50125
  • Utilities Included
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Williams Terrace
1 to 2 Bedroom Apartments

Williams Terrace

1603 N 9th StIndianola, IA 50125
Senior Living

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 $681. Sunset Apartments in the Prairie View neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here is today’s list of the most affordable Peru apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Next Level Apartments - Easton VillageA11BR,1BA$681
Sunset ApartmentsStudio, 1 baStudio,1BA$725
Foxwood ApartmentsB22BR,1BA$795
Fountain TerraceNeptuneStudio,1BA$795
Fish CreekB1 - Classic2BR,1BA$825
Linden East ApartmentsTwo Bed2BR,1BA$900
Country Club Estates3 Bedroom 2 Bathroom3BR,2BA$950
West Glen Town Center ApartmentsMedium Studio 700 sq ftStudio,1BA$975
Cedarbrooke PlaceA2 - Income Restricted1BR,1BA$980
Cherry CreekMove in special ending soon. Rent your home tod...3BR,1BA$995

Best Value Apartments for Rent in Peru, IA and Nearby

As of April 07, 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 starting from $2,700. The second greatest value Peru apartment is the 2 bed 2 bath w/out laundry Model at Linden West starting at $1,100 with a $1.05 price per square foot in the Easton Park 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
Linden West2 bed 2 bath w/out laundry2BR,2BA$1.05
Cherry CreekMove in special ending soon. Rent your home tod...3BR,1BA$0.99
Osceola HeightsMove in special ending soon. Rent your home tod...3BR,1BA$1.00
Sunset Terrace2 bed 2 bath2BR,2BA$1.13
Alice Place at NorwalkTwo Bedroom2BR,1BA$1.22
Linden East ApartmentsTwo Bed2BR,1BA$1.00
Country Club Estates2 Bedroom 1 Bathroom2BR,1BA$1.04
Next Level Apartments - Easton VillageA11BR,1BA$1.04
Foxwood ApartmentsA11BR,1BA$1.15

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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

What is the Cheapest Studio apartment in Peru?

Currently the most affordable Cheap Studio Apartment in Peru is at Sunset Apartments listed at $725.

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

The lowest price for a Cheap One Bedroom Peru Apartment is $674 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 $775 at Sunset Apartments.

What is the most affordable Peru Three Bedroom Apartment?

The best deal on a cheap Peru Three Bedroom Apartment rental is at Country Club Estates and starts from $950.

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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.