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Affordable
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These days, finding an affordable place to live in the Peru area can be challenging. Home prices in Peru are now at a median cost of $112,433, lower than the Indiana average of $232,932.
The average cost of rent is $826/mo in Peru, primarily driven by the current value of real estate in the Peru area. In Peru, 27.61% of households rent, and 48.35% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Peru is $4,734 per month. Households that rent pay about 17.44% of their income on rent here. Peru’s most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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