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Newest Homes for Rent in Peru, IL

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  • /18

    $1,200 Per Month

    • 3 Beds
    • 1 Bath
    • 860 Sq Ft
    • House for Rent

    1820 Plum St, Peru, IL 61354

    Fantastic Peru location! Near shopping, city parks and library. Completely updated 3-bedroom 1-bath ranch style home with one car garage.. Covered access from garage to kitchen door! spacious living room, eat in kitchen with newer stainless steel appliances including dishwasher. Main level laundry with washer and dryer provides additional storage and closet. Nice sized partially fenced back yard

    Wendy Fulmer Coldwell Banker Today's

    1820 Plum St, Peru, IL 61354
  • /12

    $1,700

    Total Monthly Price

    • 3 Beds
    • 2 Baths
    • 1,148 Sq Ft
    • House for Rent

    625 13th St, Peru, IL 61354

    This Absolutely beautiful home sits on a corner lot in Peru, Illinois. This 3 bedroom, 2 bathroom home is completely remolded, and features new appliances, floors, electric, and fully finished basement! Refrigerator, Stove, Microwave, will be provided.

    625 13th St, Peru, IL 61354

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 $1,062 per month, though prices vary by neighborhood, size, and property type. As of May 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 $42,480 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 $1,062 per month in Peru, IL, renters typically need to show $3,186 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 13.5, 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 in Peru, IL

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$1,062
Median Single Family Home Rent
$1,750
Median Townhouse Rent
$925
Median Condo Rent
$1,300
How to Rent a Home