3

Peru, IL Homes for Rent

Section Image Section Image
  • /32

    $1,695 Per Month

    • 2 Beds
    • 2.5 Baths
    • 1,550 Sq Ft
    • Townhouse for Rent

    701 Cross St, Peru, IL 61354

    Stunning townhome with 2 Master Suites upstairs. Each has private bath, walk in closet and sitting area. Laundry facilities are upstairs in hall laundry closet. Main floor custom kitchen with granite countertops, built in pantry and stainless steel appliances, which include stove, refrigerator, microwave hooded vent and dishwasher. Breakfast bar has 4 seats. 9 foot ceilings. Tenant pays all

    Agent Photo

    Dee Barrera

    Starved Rock Realty

    (779) 345-2361

    701 Cross St, Peru, IL 61354
  • /7

    $975 Per Month

    • 2 Beds
    • 1 Bath
    • House for Rent

    1314 Maple Dr Unit 5, Peru, IL 61354

    Remodeled two bedroom apartment in a great central Peru location. This apartment home features updated kitchen and bathroom, large rooms with great natural lighting and central air. Kitchen appliances included. Coin-operated laundry in building.

    Adam Finley Illinois Valley Property Management

    1314 Maple Dr Unit 5, Peru, IL 61354
  • /6

    $875 Per Month

    • 1 Bed
    • 1 Bath
    • House for Rent

    809 Calhoun St Unit B, Peru, IL 61354

    Large one bedroom apartment with recent updates including newer flooring, fixtures and appliances. Kitchen and laundry appliances included with the unit.

    Adam Finley Illinois Valley Property Management

    809 Calhoun St Unit B, 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 $975 per month, though prices vary by neighborhood, size, and property type. As of June 2026, townhouses tend to be the most affordable option while condos 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 $39,000 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 $975 per month in Peru, IL, renters typically need to show $2,925 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 15.0, 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 Trends in Peru, IL

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$975
Median Single Family Home Rent
$1,475
Median Townhouse Rent
$995
Median Condo Rent
$1,300
How to Rent a Home