Cost of Living in Peru, IN: Rent, Income & Home Prices

OKRent takes 27 cents of every $1 people earn here.

🏠 Rent per month (2026)$1,10337% lower than U.S. average

💵 Families earn per year (2026)$49,782about $4,149/month · 43% lower than U.S. average

🔑 House price$92,50072% lower than U.S. average

Rent is lower than in 82% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $44,120 a year. That is $21 an hour at a full-time job.

Is rent cheaper than other Indiana cities?

Yes. Rent here is cheaper than in most of Indiana. It is number 52 of 132 cities from cheapest to most expensive.

Peru

$1,103

$1,867

$1,242

$1,151

$908

$764

$1,714

How much do households earn in Peru?

Under $25k

20.9%

$25k–50k

33.8%

$50k–100k

29.1%

$100k–150k

7.6%

$150k+

1.5%

Share of households by yearly income. 9.0% of households earn $100,000 or more.

Rent by apartment size in Peru

Size	Peru	U.S. average
1 bedroom	$660	$1,324
2 bedrooms	$835	$1,509
3 bedrooms	$1,127	$1,698
4 bedrooms	$1,193	$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Peru overall?

Everyday prices in Indiana overall are 7% below the U.S. average (index 93.3, U.S. = 100).

Housing

Goods (food, clothes…)

Utilities

Other services

U.S. average

100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Peru, so the Indiana figure is shown.

Taxes and bills in Peru

🏛️ Property tax$676a year · 0.73% of home value · U.S. $3,119

⚡ Electric bill$169a month (typical) · U.S. $156

Life in Peru

Commute to work22.1 minU.S.: 26.4 min

College degree16.4%U.S.: 35.7%

Own their home71.3%U.S.: 65.2%

Below poverty line23.6%U.S.: 12.5%

Unemployment9.1%U.S.: 5.2%

Is it cheaper to rent or buy in Peru?

Buying is cheaper month to month: about $461 a month less than renting.

Renting

$1,103

Owning

$642

Owning assumes a typical $92,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $9,250 for the down payment.

Frequently asked questions

What is the average rent in Peru, IN?

Renting in Peru costs a median of about $1,103 a month in 2026, including utilities. The Indiana median is $1,219.

How much do I need to make to live in Peru?

To keep rent under 30% of income, you need about $44,120 a year, or $21 an hour at a full-time job.

Is Peru cheap or expensive?

Peru is rated OK: rent takes 26.6% of the typical household income of $49,782. It ranks 52nd cheapest of 132 Indiana cities we track.

How much are property taxes in Peru?

The median homeowner in Peru pays $676 a year in property taxes, about 0.73% of the median home value.

Is Peru more expensive than the national average?

Overall prices in Indiana are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Peru?

The median home value in Peru is $92,500, about 1.9 times the typical yearly household income.

10,901 people live in Peru. Numbers are typical (middle) values.

Is Peru, IN expensive to live in?