Affordable Housing In Peru
Miami County, Indiana

8 Low Income Apartment Communities In Peru

Hilltop Ridge

2920 S. Hilltop Dr
Peru, Indiana
1-3 BR

Arrowhead Estates Phase II

901 Apache Drive
Peru, Indiana
Income Based
2-3 BR

Farmington Estates

2920 S Hilltop Dr
Peru, Indiana

Eastwood Place

701 E Main St
Peru, Indiana

Hilltop Farms - Area 5

County Rd 300 S
Peru, Indiana

Bobtail Meadows Apartments

700 Bobtail Court
Peru, Indiana

Bobtail Woods Apts

700 Bobtail Court
Peru, Indiana

Peru Apartments

260 W Franklin Court
Peru, Indiana
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Section 8 Vouchers, Apartments, and Waiting Lists in 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Peru, Indiana

Housing Authority Programs
Peru Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Peru, Indiana

There are 8 low income housing apartment communities offering 346 affordable apartments for rent in Peru, Indiana.

Income Based Apartments in Peru, Indiana

Peru features 233 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 113 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 $664 and $812.

2022 Peru, Indiana 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, Indiana Fair Market Rent $515 $611 $738 $997 $1,227
Peru, Indiana Payment Standard Range $464 to $567 $550 to $672 $664 to $812 $897 to $1,097 $1,104 to $1,350

Sourced from federal housing data and research.

Peru, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 346
Total Housing Units with Rental Assistance 233
Percentage of Housing Units Occupied By Renters 36.52%
Average Renter Household Size 2.59
Average Household Size 2.51
Median Household Income $33,107 ±$3,163
Median Rent $607 ±$61
Percentage Of Renters Overburdened 37.59% ± 7.1pp
Total Population 11,197

Population and Household Demographics

Peru is a city in Miami County, Indiana with a population of 11,197. There are 4,370 households in the city with an average household size of 2.51 persons. 36.52% of households in Peru are renters.

Income and Rent Overburden in Peru

The median gross income for households in Peru is $33,107 a year, or $2,759 a month. The median rent for the city is $607 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 $2,023 a month would be considered overburdened when renting an apartment at or above the median rent. 37.59% 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 Miami County.

In Peru, HUD calculates the Area Median Income for a family of four as $67,800

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.
$15,650 $18,310 $23,030 $27,750 $32,470 $37,190 $41,910 $46,630
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.
$26,100 $29,800 $33,550 $37,250 $40,250 $43,250 $46,200 $49,200
80% AMI Income Limits
Renters earning up to 80% of the Peru AMI may qualify for rental assistance programs that target Low Income households.
$41,750 $47,700 $53,650 $59,600 $64,400 $69,150 $73,950 $78,700