Cheap Apartments for Rent in Peru, IN from $300 (32 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
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.

close
View Me
Hilltop Ridge
1 to 3 Bedroom Apartments

Hilltop Ridge

2920 S Hilltop DrPeru, IN 46970
  • Utilities Included

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

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

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
Holly Apartments
1 Bedroom Apartments

Holly Apartments

1826 S Goyer RdKokomo, IN 46902
close
View Me
Indigo
1 Bedroom Apartments

Indigo

532 W Mulberry StKokomo, IN 46901

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.

Read Article
Showing Results 1-32, Page 1 of 1

Peru, IN Local Guide

Cheapest Available Peru Apartments for Rent

 

The cheapest available apartment rental in Peru, IN is a 1 Bed unit found at Historic Gallatin Square Senior Apartments priced from $357. BECKFORD PLACE APARTMENTS has the second lowest priced unit, which is a Studio apartment currently listed from $525. Here is today’s list of the most affordable Peru apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Historic Gallatin Square Senior ApartmentsOne Bedroom1BR,1BA$357
BECKFORD PLACE APARTMENTSStudioStudio,1BA$525
Walnut Manor$350 OFF MOVE IN COSTS! INQUIRE TODAY! Quiet an...Studio,1BA$650
Turtle Creek KokomoSpringStudio,1BA$685
Turtle Creek ApartmentsStudioStudio,1BA$695
2930 Albright1 Bed1BR,1BA$695
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$699
Lincolnwood Apartments1BR/1BA1BR,1BA$700
Somerset ApartmentsOne Bedroom1BR,1BA$709
First Flats1bed/1bath Non-Renovated1BR,1BA$750

Best Value Apartments for Rent in Peru, IN

As of July 25, 2025 the best value apartment in the Peru area is the $0.73 price per square foot 3 bedroom Model at Granton Place Apartments in the starting from $975. The second greatest value Peru apartment is the B1-1 Model at 306 Riverfront starting at $1,275 with a $1.09 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.
Granton Place Apartments3 bedroom3BR,1.5BA$0.73
306 RiverfrontB1-12BR,2BA$1.09
Historic Gallatin Square Senior ApartmentsTwo Bedroom2BR,1BA$1.00
MAPLE CREST2x1AUp2BR,1BA$1.08
JEFFERSON CROSSING2 Bedroom 1 Bathroom - Townhome2BR,1BA$1.07
Timbernest Townhomes1BR/1.5BA1BR,1.5BA$1.00
Fox Acres Apartments1 Bed Room1BR,1BA$1.01
Somerset ApartmentsOne Bedroom1BR,1BA$0.98
The Annex of Kokomo2 Bed 2 Bath2BR,2BA$0.70
MILLSTONE APARTMENTS1 bedroom1BR,1BA$1.12

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

Best Local Schools in
Peru, IN

School data provided by Great Schools

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

Explore Peru, IN Rentals by Map

Decorative image of map

See the most popular apartments and homes in Peru, IN

View Map
Peru, IN Apartments Map
View Map
Peru, IN Rental Homes Map

Getting Around Peru, IN

Walk Score®

20 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

36 / 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 BECKFORD PLACE APARTMENTS listed at $525.

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

The lowest price for a Cheap One Bedroom Peru Apartment is $357 at Historic Gallatin Square Senior 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 $790 at Lincolnwood Apartments.

What is the most affordable Peru Three Bedroom Apartment?

The best deal on a cheap Peru Three Bedroom Apartment rental is at Granton Place Apartments and starts from $975.

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

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

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.