Low Income Apartments and Affordable Housing For Rent in Peru, IN

Discover affordable housing in Peru where there are 8+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Hilltop Ridge

2920 S. Hilltop Dr, Peru, Indiana 46970

Arrowhead Estates Phase II

901 Apache Drive, Peru, Indiana 46970

Farmington Estates

2920 S Hilltop Dr, Peru, Indiana 46970

Eastwood Place

701 E Main St, Peru, Indiana 46970

Bobtail Meadows Apartments

700 Bobtail Court, Peru, Indiana

Bobtail Woods Apts

700 Bobtail Court, Peru, Indiana

Peru Apartments

260 W Franklin Court, Peru, Indiana

Hilltop Farms - Area 5

County Rd 300 S, Peru, Indiana 46970

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Peru, Indiana
$16.34/hour
$9.09 (+125%) more than Indiana minimum wage and $9.09 (+125%) more than the Federal minimum wage.
Learn More About Peru, Indiana Affordable Housing ↓

What HUD offices serve Peru, Indiana?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Peru, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Peru.

How many renters live in Peru, Indiana?

The City of Peru has 10,862 people living in 4,411 households.

There are 3,733 renters living in 1,322 renter households in this City. Renters make up 34.37 percent of the population living in Peru.

What is the rental market like in Peru, Indiana?

There are an estimated 5,192 housing units in the Peru area. Of these, 1,385 units are rental homes, making up 27 percent of the housing market. For every renter household in Peru, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Peru?

The rental vacancy rate in Peru is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Peru for each bedroom size?

Occupied Rental Units by Size in Peru
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
32 233 402 455 130
Occupied Rental Units by Size in Peru

A large number of apartments in Peru have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Peru are overburdened by housing costs?

Among renter households in this market, 49 percent have housing cost burden. Further, 26 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Peru

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $600 to $1,383. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $600
One BR $692
Two BR $863
Three BR $1,112
Four BR $1,383
2024 Fair Market Rents in Peru, Indiana

How many units are rented at Fair Market Rent (FMR) in Peru?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 32 100 percent
One BR 179 77 percent
Two BR 243 60 percent
Rental Units Below FMR in Peru, Indiana

How many affordable rental units are in Peru?

There are a variety of federal affordable housing programs serving households in Peru, Indiana including the following:

Federal Program Unit Count
Public Housing 103
Section 8 Project-Based Rental Assistance 89
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Peru, Indiana

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Peru, Indiana

Peru features 297 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, Indiana

There are 144 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Peru.

Housing Choice Vouchers in Peru, Indiana

On average, Section 8 Housing Choice vouchers pay Peru landlords $400 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, Indiana for a two-bedroom apartment is between $777 and $949.

Sourced from federal housing data and AffordableHousingOnline.com research.