503 W North St
WalnutIL61376
Cheap Homes for Rent in Peru, IL from $500 (7 Rentals)
Search the lowest-cost Homes available for rent right now in Peru.
825 N Spalding St
Spring ValleyIL61362
1264 Liberty St
MorrisIL60450
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
506-530 Main St
MarseillesIL61341
537 1/2 Bucklin St
La SalleIL61301
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$9991 Bedroom Apartments Available Now
1564 Laharpe St, Unit Unit 1
1564 Laharpe StLa Salle, IL 61301
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.
826 N Spalding St
Spring ValleyIL61362
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Peru, IL Local Guide
Downtown Peru by David Wilson is licensed under CC BY 2.0
How much does it cost to rent a home in Peru?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peru 2 Bedroom Homes for Rent | $1,476 | $850 | $2,900 |
| Peru 3 Bedroom Homes for Rent | $2,412 | $1,675 | $3,500 |
| Peru 4 Bedroom Homes for Rent | $2,750 | $2,750 | $2,750 |
| Peru 5 Bedroom Homes for Rent | $2,700 | $2,700 | $2,700 |
Browse Top Homes for Rent in Peru
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Peru, IL Local Guide
- Nearby Cities
- ZIP codes
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Northland Park Apartments | Studio | Studio,1BA | $625 |
| MEADOWS OF LUKE RIDGE | 2 BED 1 BATH | 2BR,1BA | $670 |
| Dixon River Apartments | 1BD/1BA | 1BR,1BA | $675 |
Best Value Apartments for Rent in Peru, IL and Nearby
As of April 24, 2026 the best value apartment in the Peru area is the $1.31 price per square foot Harper Model at Knoxville Pointe in the in the Oakbrook neighborhood starting from $1,492. The second greatest value Peru apartment is the 3 Model at Eco Park starting at $1,290 with a $1.32 price per square foot in the Devonaire Farms neighborhood. 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. |
|---|---|---|---|
| Knoxville Pointe | Harper | 2BR,2BA | $1.31 |
| Eco Park | 3 | 3BR,2BA | $1.32 |
| Prairie Lakes Apartments | The Matthew | 1BR,1BA | $1.43 |
| 504 S Sweetbriar Dr | 2 Beds, 1 Baths | 2BR,1BA | $0.95 |
| MEADOWS OF LUKE RIDGE | 2 BED 1 BATH | 2BR,1BA | $0.71 |
| 811 Covey Ln | 1x1 | 1BR,1BA | $1.33 |
| Phoenix Apartments of Pontiac | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.05 |
| Dunlap Lakeside | 2 Beds, 1 Baths | 2BR,1BA | $1.29 |
| Winkler Village Apartments | 1BD 1BTH | 1BR,1BA | $1.06 |
| Dixon River Apartments | 1BD/1BA | 1BR,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.
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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.
Read ArticleThe 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 ArticleCash 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 ArticleQuick 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.
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Explore Peru, IL Rentals by Map
See the most popular apartments and homes in Peru, IL
Frequently Asked Questions about Peru
What type of rentals are currently available in Peru?
There are currently 67 Apartments for Rent in Peru, IL with pricing that ranges from $450 to $2,200. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peru ranging from $500 to $3,500.
What is the current price range for Rental Homes in Peru?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Peru ranges from $500 to $3,500 with an average monthly rent of $2,156.
How much are larger Three and Four Bedroom Rentals in Peru?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Peru range from $789 to $2,200, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,675 to $3,500. Four Bedroom Single-Family rentals are also available starting from $2,750 and Four Bedroom Apartments start at $1,495.
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
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
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.
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.