Cheap Apartments for Rent in Peru, IL from $400 (33 Rentals)

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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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Rock Falls Apartments
Studio to 2 Bedroom Apartments

Rock Falls Apartments

1608 E Rock Falls RdRock Falls, IL 61071
  • Utilities Included
property at 205 Sandra Ave

$775

1 Bedroom, 1 Bath Home for Rent

Available Now

205 Sandra Ave

MendotaIL61342
property at 519 Morris St

$825

2 Bedroom, 1 Bath Home for Rent

Available Now

519 Morris St

OglesbyIL61348

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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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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101 E Bannon St
1 to 2 Bedroom Apartments

101 E Bannon St

101 E Bannon StDwight, IL 60420
Showing Results 1-33, Page 1 of 1

Peru, IL Local Guide

Cheapest Available Peru Apartments for Rent and Nearby

 

The cheapest available apartment rental in Peru, IL is a Studio unit found at Northland Park Apartments priced from $625. MEADOWS OF LUKE RIDGE has the second lowest priced unit, which is a 2 Beds apartment currently listed from $670. Here is today’s list of the most affordable Peru apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Northland Park ApartmentsStudioStudio,1BA$625
MEADOWS OF LUKE RIDGE2 BED 1 BATH2BR,1BA$670
Dixon River Apartments1BD/1BA1BR,1BA$675
Winkler Village Apartments1BD 1BTH1BR,1BA$725
The Terraces at DekalbRussell Road StudioStudio,1BA$725
Colonial TownhousesSTStudio,1BA$835
Phoenix Apartments of Pontiac2 Bedroom 1 Bathroom2BR,1BA$895
504 S Sweetbriar Dr2 Beds, 1 Baths2BR,1BA$900
Ashbury Court2B2BR,1BA$1,075
Dunlap Lakeside2 Beds, 1 Baths2BR,1BA$1,100

Best Value Apartments for Rent in Peru, IL and Nearby

As of February 21, 2026 the best value apartment in the Peru area is the $1.18 price per square foot 2E Model at York Meadow in the starting from $2,200. The second greatest value Peru apartment is the Easton Model at Knoxville Pointe starting at $1,567 with a $1.35 price per square foot . 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.
York Meadow2E3BR,2BA$1.18
Knoxville PointeEaston2BR,2BA$1.35
504 S Sweetbriar Dr2 Beds, 1 Baths2BR,1BA$0.95
MEADOWS OF LUKE RIDGE2 BED 1 BATH2BR,1BA$0.71
811 Covey Ln1x11BR,1BA$1.33
Phoenix Apartments of Pontiac2 Bedroom 1 Bathroom2BR,1BA$1.05
Eco Park22BR,2BA$1.39
Ashbury Court2B2BR,1BA$1.30
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06
Dixon River Apartments1BD/1BA1BR,1BA$1.03

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

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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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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!

Explore Peru, IL Rentals by Map

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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 Northland Park Apartments listed at $625.

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

The lowest price for a Cheap One Bedroom Peru Apartment is $675 at Dixon River 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 $670 at MEADOWS OF LUKE RIDGE.

What is the most affordable Peru Three Bedroom Apartment?

The best deal on a cheap Peru Three Bedroom Apartment rental is at MEADOWS OF LUKE RIDGE and starts from $757.

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.

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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.