Cheap Apartments for Rent in Peru, IL from $400 (30 Rentals)

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

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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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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Rock Falls Apartments
Studio Apartments

Rock Falls Apartments

1608 E Rock Falls RdRock Falls, IL 61071
  • Utilities Included

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, 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
Phoenix Apartments of PontiacOne Bedroom Deluxe1BR,1BA$795
Willis Senior Lofts1 Bedroom1BR,1BA$800
103 W Railroad St1 bedroom apt1BR,1BA$800
Brighton Woods2Bed1Bath2BR,1BA$850
504 S Sweetbriar DrModel2BR,1BA$1,000

Best Value Apartments for Rent in Peru, IL and Nearby

As of June 26, 2025 the best value apartment in the Peru area is the $0.92 price per square foot 4 TH Model at Mason Townhouse Suites in the in the Devonaire Farms neighborhood starting from $2,030. The second greatest value Peru apartment is the 2 BED 1 BATH Model at MEADOWS OF LUKE RIDGE starting at $670 with a $0.71 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.
Mason Townhouse Suites4 TH4BR,3BA$0.92
MEADOWS OF LUKE RIDGE2 BED 1 BATH2BR,1BA$0.71
504 S Sweetbriar DrModel2BR,1BA$1.11
Lincolnshire West2bu2BR,1.5BA$1.45
Phoenix Apartments of PontiacOne Bedroom Deluxe1BR,1BA$0.94
Brighton Woods1Bed1Bath1BR,1BA$1.06
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06
Dixon River Apartments1BD/1BA1BR,1BA$1.03
Willis Senior Lofts1 Bedroom1BR,1BA$1.26
Northland Park ApartmentsStudioStudio ,1BA$1.51

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

Explore Peru, IL Rentals by Map

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See the most popular apartments and homes in Peru, IL

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Getting Around Peru, IL

Walk Score®

38 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 Dixon River Apartments and starts from $910.

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.

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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.

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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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.