Cheap Apartments for Rent in Peru, IN from $300 (30 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Brentwood Greene
1 to 2 Bedroom Apartments

Brentwood Greene

1534 Dodge StKokomo, IN 46902
Senior Living
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Beckford Place
Studio to 2 Bedroom Apartments

Beckford Place

1315 N Beckford PlMarion, IN 46952
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900 North St
Studio to 1 Bedroom Apartments

900 North St

900 North StLogansport, IN 46947

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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2930 Albright
1 to 2 Bedroom Apartments

2930 Albright

2930 Albright RdKokomo, IN 46902
Corporate Housing
  • Utilities Included
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Lincolnwood Apartments
1 to 4 Bedroom Apartments

Lincolnwood Apartments

2101 Mark LnKokomo, IN 46902
  • Utilities Included
  • Smoke Free
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Holly Apartments
1 Bedroom Apartments

Holly Apartments

1826 S Goyer RdKokomo, IN 46902

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.

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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 Apperson Way Apartments priced from $398. Walnut Manor has the second lowest priced unit, which is a Studio apartment currently listed from $650. Here is today’s list of the most affordable Peru apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Apperson Way Apartments1 Bedroom1BR,1BA$398
Walnut ManorSTUDIOStudio,1BA$650
Green Town ApartmentsOne Bd rm1BR,1BA$700
Turtle Creek KokomoSpringStudio,1BA$715
MAPLE CRESTStudio1BR,1BA$715
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$729
Millstone Apartments1 bedroom1BR,1BA$750
Holly Apartments1bed/1bath Partially Renovated1BR,1BA$750
Kingston Green Apartments1 BEDROOM G1BR,1BA$800
Carter West Apartments & Townhouses1bed/1bath Partially Renovated1BR,1BA$835

Best Value Apartments for Rent in Peru, IN

As of July 29, 2026 the best value apartment in the Peru area is the $0.74 price per square foot Two Bedroom Model at Somerset Apartments in the starting from $913. The second greatest value Peru apartment is the 3 Bed 2 Bath Model at Union at Washington starting at $1,017 with a $0.88 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.
Somerset ApartmentsTwo Bedroom2BR,1.5BA$0.74
Union at Washington3 Bed 2 Bath3BR,2BA$0.88
Apperson Way Apartments3 Bedroom Townhomes3BR,2BA$1.17
Hilltop Ridge3 Bed 1 bath3BR,1BA$1.01
Ashbury Apartments2 Bed 1st floor UPDATED2BR,1BA$1.10
Turnberry Square Apartments2x2A2BR,2BA$1.24
Georgetown Apartments2BR/1.0BA2BR,1BA$1.19
Fox Acres Apartments1 Bed Room1BR,1BA$1.11
The Annex of Kokomo2 Bed 2 Bath2BR,2BA$0.84
Millstone Apartments1 bedroom1BR,1BA$1.12

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

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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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Peru, IN

School data provided by Great Schools

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

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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 Walnut Manor listed at $650.

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

The lowest price for a Cheap One Bedroom Peru Apartment is $398 at Apperson Way 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 $479 at Apperson Way Apartments.

What is the most affordable Peru Three Bedroom Apartment?

The best deal on a cheap Peru Three Bedroom Apartment rental is at Apperson Way Apartments and starts from $551.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.