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Peru, IL Homes for Rent

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  • /15

    $775 Per Month

    • 2 Beds
    • 1 Bath
    • 811 Sq Ft
    • Apartment for Rent

    2317 2nd St Unit 2, Peru, IL 61354

    Great, affordable, and clean upper-level 2-bedroom, 1-bath rental with off-street parking. No pets. A one-year lease is required, along with the first month's rent and a security deposit. Tenant responsible for all utilities. All interested applicants must complete a rental application. There is an application fee per applicant.

    Christine Hopps Coldwell Banker Today's

    2317 2nd St Unit 2, Peru, IL 61354
  • /8

    $800 Per Month

    • 2 Beds
    • 1 Bath
    • 811 Sq Ft
    • Apartment for Rent

    2317 2nd St Unit 1, Peru, IL 61354

    Great, affordable, and clean main-level 2-bedroom, 1-bath rental with off-street parking. No pets. A one-year lease is required, along with the first month's rent and a security deposit. Tenant responsible for all utilities. All interested applicants must complete a rental application. There is an application fee per applicant.

    Wendy Fulmer Coldwell Banker Today's

    2317 2nd St Unit 1, Peru, IL 61354
  • /20

    $1,050 Per Month

    • 2 Beds
    • 1 Bath
    • 800 Sq Ft
    • House for Rent

    1823 9th St, Peru, IL 61354

    Clean 2 bedroom with 1 bath home located in a nice location in Peru, not far from the downtown area. Some bathroom updating recently completed. Some painting being done inside and outside. Covered front porch to enjoy a warm breeze or a little warm sunshine, whichever you prefer! Outside there is a 1 car detached garage in back, a decent back yard to enjoy. Also a partial basement with room for

    Alice Green Starved Rock Realty

    1823 9th St, Peru, IL 61354

Why Live in Peru

Peru, Illinois, located 100 miles west of Chicago, is a small city with a population of about 10,000. Known for its mix of small industrial and retail businesses, major employers include the Peru Mall and Target. The city features a variety of home styles, from early 20th-century bungalows to modern ranch-style homes, with homes spending less time on the market than the national average. LaSalle-Peru Township High School is noted for its high rating, contributing to the appeal for families. Peru offers numerous attractions, including the Illinois River, which provides opportunities for boating and fishing, and 10 public parks with amenities like picnic shelters and trails. Starved Rock State Park and Buffalo Rock State Park are nearby, enhancing the outdoor experience. The Westclox Museum offers a glimpse into the city's industrial past. Community events such as the Lock 14 Kid’s Fishing Tournament and Music Under the Oaks concert series foster a strong sense of community. Despite the absence of public transportation, the city is well-connected via Illinois State Route 251 and Interstate 80, with the Illinois Valley Regional Airport serving charter flights. The crime rates in Peru are often below state and national averages, and the air quality is better than many other Illinois cities. While winters can be harsh, summers are mild, making it a balanced environment for residents.

Frequently Asked Questions

How much does it cost to rent a home in Peru, IL?
The median rent for a home in Peru, IL is $787 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Peru, IL?
To comfortably afford the median rent in Peru, IL, a household needs to earn roughly $31,480 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $787 per month in Peru, IL, renters typically need to show $2,361 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Peru, IL?
In Peru, IL, the price-to-rent ratio is 17.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
4
Median Rent
$787
Median Single Family Home Rent
$1,475
Median Townhouse Rent
$1,345
Median Condo Rent
$1,125
How to Rent a Home