Cheap Apartments for Rent in Peru, IL from $400 (35 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
close
View Me
Rock Falls Apartments
Studio to 2 Bedroom Apartments

Rock Falls Apartments

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

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.

Read Article
property at 200 W St Paul St

$725

1 Bedroom, 1 Bath Home for Rent

Available Now

200 W St Paul St

Spring ValleyIL61362

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.

Read Article
close
View Me
101 E Bannon St
1 to 2 Bedroom Apartments

101 E Bannon St

101 E Bannon StDwight, IL 60420
Showing Results 1-35, 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. Fox Hill Senior Living in the Raintree Village Duplexes neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $656. Here is today’s list of the most affordable Peru apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Northland Park ApartmentsStudioStudio,1BA$625
Fox Hill Senior Living1x1-H-SS1BR,1BA$656
MEADOWS OF LUKE RIDGE2 BED 1 BATH2BR,1BA$670
Dixon River Apartments1BD/1BA1BR,1BA$675
Winkler Village Apartments1BD 1BTH1BR,1BA$725
Phoenix Apartments of PontiacOne Bedroom Deluxe1BR,1BA$795
Ashbury CourtSTStudio,1BA$815
103 W Railroad St1 Bed, 1 bath1BR,1BA$850
504 S Sweetbriar Dr2 Beds, 1 Baths2BR,1BA$900
The Terraces at DekalbLincoln Hwy 2 Bed2BR,1BA$1,050

Best Value Apartments for Rent in Peru, IL and Nearby

As of April 07, 2026 the best value apartment in the Peru area is the $0.98 price per square foot 4 TH Model at Mason Townhouse Suites in the in the Devonaire Farms neighborhood starting from $2,150. The second greatest value Peru apartment is the Easton Model at Knoxville Pointe starting at $1,485 with a $1.28 price per square foot in the Oakbrook 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.
Mason Townhouse Suites4 TH4BR,3BA$0.98
Knoxville PointeEaston2BR,2BA$1.28
Eco Park33BR,2BA$1.32
504 S Sweetbriar Dr2 Beds, 1 Baths2BR,1BA$0.95
MEADOWS OF LUKE RIDGE2 BED 1 BATH2BR,1BA$0.71
Dunlap Lakeside2 Beds, 1 Baths2BR,1BA$1.29
Phoenix Apartments of Pontiac2 Bedroom 1 Bathroom2BR,1BA$1.05
Fox Hill Senior Living1x1-H-SS1BR,1BA$0.91
Winkler Village Apartments1BD 1BTH1BR,1BA$1.06
Dixon River Apartments1BD/1BA1BR,1BA$1.03

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Explore Peru, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Peru, IL

View Map
Peru, IL Apartments Map
View Map
Peru, IL Rental Homes Map

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 $656 at Fox Hill Senior Living.

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

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

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.