
Cheap Apartments for Rent in Peru, IA from $500 (11 Rentals)
Search the lowest-cost Apartments available for rent right now in Peru.


Foxwood Apartments

Next Level Apartments - Deer Run

Sunset Apartments

East Park Apartments

Fish Creek

West Glen Town Center Apartments

Fountain Terrace

Linden East Apartments
Peru, IA Local Guide

How much does it cost to rent an apartment in Peru?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Peru Studio Apartments | $997 | $575 | $1,576 |
Peru 1 Bedroom Apartments | $1,210 | $545 | $1,765 |
Peru 2 Bedroom Apartments | $1,340 | $600 | $2,413 |
Peru 3 Bedroom Apartments | $1,933 | $1,100 | $3,331 |
Peru 4 Bedroom Apartments | $2,500 | $2,500 | $2,500 |
Browse Top Apartments in Peru
See all Apartments in PeruExplore Peru
Peru, IA Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Peru Apartments for Rent and Nearby
 The cheapest available apartment rental in Peru, IA is a 2 Beds unit found at Foxwood Apartments in the Easton Park neighborhood priced from $600. Next Level Apartments - Deer Run in the Easton Park neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $701. Here is today’s list of the most affordable Peru apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Foxwood Apartments | B2 | 2BR,1BA | $600 |
Next Level Apartments - Deer Run | B1 | 2BR,1BA | $701 |
East Park Apartments | 1/2 Story Down | 2BR,1BA | $750 |
Sunset Apartments | 2bd, 1ba | 2BR,1BA | $795 |
The Bridges | 1 Bedroom | 1BR,1BA | $800 |
Best Value Apartments for Rent in Peru, IA and Nearby
As of August 04, 2025 the best value apartment in the Peru area is the $1.04 price per square foot Platinum Pointe - 3 Bed Model at Platinum Pointe in the starting from $2,500. The second greatest value Peru apartment is the 3 Bed 2.5 Bath Townhome Model at Providence Lane Townhomes starting at $1,680 with a $1.17 price per square foot . Here is today’s list of the best values for Peru apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Platinum Pointe | Platinum Pointe - 3 Bed | 3BR,3BA | $1.04 |
Providence Lane Townhomes | 3 Bed 2.5 Bath Townhome | 3BR,2.5BA | $1.17 |
Lift at Jordan Creek | Magnify | 3BR,2BA | $1.18 |
Lincoln Ridge by Kading | Sign a 13 Month Lease, Get the 13th Month Free! | 3BR,1BA | $1.14 |
Sunset Terrace | 2 Beds, 2 baths | 2BR,2BA | $1.13 |
Linden East Apartments | Two Bed | 2BR,1BA | $1.00 |
Sunset Apartments | 2bd, 1ba | 2BR,1BA | $0.96 |
Fish Creek | B1 - Deluxe | 2BR,1BA | $1.21 |
Next Level Apartments - Deer Run | B1 | 2BR,1BA | $0.88 |
Foxwood Apartments | A2 | 1BR,1BA | $1.19 |
Quick Rent Budget Calculator
How much rent can you afford?
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Peru, IA Rentals by Map
See the most popular apartments and homes in Peru, IA
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 $745 at Foxwood Apartments.
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 $600 at Foxwood Apartments.
What is the most affordable Peru Three Bedroom Apartment?
The best deal on a cheap Peru Three Bedroom Apartment rental is at Lincoln Ridge by Kading and starts from $1,150.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.