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Affordable Housing In Peru
Alexander County, Illinois

7 Low Income Apartment Communities In Peru

Horizon Residential Alternatives II, Inc

1519 26th St
Peru, Illinois
Disabled Supportive Housing

Peru Senior Housing Phase II

2150 Pulaski St
Peru, Illinois

Peru Senior Housing

2301 Marquette Rd
Peru, Illinois

C.J. Rentals

1905 1st St
Peru, Illinois

J.D. Rentals

1911 1st St
Peru, Illinois

R and R Rentals

1020 Plain St
Peru, Illinois

Peru Senior Housing Hr - 635

2201 Marquette Rd
Peru, Illinois
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Housing Authorities that serve Peru

Housing Authority Programs
Alexander County Housing Authority Public Housing
Menard County Housing Authority Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Section 8 Project-Based Voucher (PBV)

Guide To Affordable Housing in Peru, Illinois

There are 7 low income housing apartment communities offering 182 affordable apartments for rent in Peru, Illinois.

Income Based Apartments in Peru, Illinois

Peru features 16 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Peru, Illinois

There are 166 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Peru.

Housing Choice Vouchers in Peru, Illinois

On average, Section 8 Housing Choice vouchers pay Peru landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Peru.

The maximum amount a voucher would pay on behalf of a low-income tenant in Peru, Illinois for a two-bedroom apartment is between $726 and $888.

2021 Peru, Illinois Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Peru, Illinois Fair Market Rent $537 $612 $807 $1,155 $1,216
Peru, Illinois Payment Standard Range $483 to $591 $551 to $673 $726 to $888 $1,040 to $1,271 $1,094 to $1,338

Sourced from federal housing data and research.

Peru, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 182
Total Housing Units with Rental Assistance 16
Percentage of Housing Units Occupied By Renters 26.75%
Average Renter Household Size 1.81
Average Household Size 2.30
Median Household Income $46,126 ±$4,202
Median Rent $609 ±$49
Percentage Of Renters Overburdened 35.46% ± 7.92pp
Total Population 10,019

Population and Household Demographics

Peru is a city in Alexander County, Illinois with a population of 10,019. There are 4,217 households in the city with an average household size of 2.30 persons. 26.75% of households in Peru are renters.

Income and Rent Overburden in Peru

The median gross income for households in Peru is $46,126 a year, or $3,844 a month. The median rent for the city is $609 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Peru, a household making less than $2,030 a month would be considered overburdened when renting an apartment at or above the median rent. 35.46% of households who rent are overburdened in Peru.

Area Median Income In Peru

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Peru, the AMI is calculated from all households within Alexander County.

In Peru, HUD calculates the Area Median Income for a family of four as $62,800

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Peru

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Peru

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Peru AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,400 $17,420 $21,960 $26,500 $31,040 $35,580 $39,500 $42,050
50% AMI Income Limits
Renters earning up to 50% of the Peru AMI may qualify for rental assistance programs that target Very Low Income households.
$22,300 $25,500 $28,700 $31,850 $34,400 $36,950 $39,500 $42,050
80% AMI Income Limits
Renters earning up to 80% of the Peru AMI may qualify for rental assistance programs that target Low Income households.
$35,700 $40,800 $45,900 $50,950 $55,050 $59,150 $63,200 $67,300