Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. 

An extensive list of coronavirus resources for low-income households can be found here.

Affordable Housing In Peru
Miami County, Indiana

8 Low Income Apartment Communities In Peru

Hilltop Ridge

2920S 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
  • «
  • 1
  • »

Housing Authorities that serve Peru

Housing Authority Programs
Housing Authority of the City of Peru 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 $659 and $805.

2021 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
Fair Market Rent $512 $622 $732 $1,005 $1,206
Payment Standard Range $461 to $563 $560 to $684 $659 to $805 $905 to $1,106 $1,085 to $1,327

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 $61,400

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

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,750 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $43,100
50% of Median $22,900 $26,150 $29,400 $32,650 $35,300 $37,900 $40,500 $43,100
80% of Median $36,600 $41,800 $47,050 $52,250 $56,450 $60,650 $64,800 $69,000