Cost of Living in Peru, IL
Population 9,863 · Illinois · Data vintage 2023
(100 = US avg)
Peru offers a notably favorable income-to-housing ratio for its region. The typical home — $156,000 — costs less than 2.3 times median household income of $68,147, a threshold many coastal markets passed a decade ago.
Geographically, Peru is about 50 miles northeast of Peoria, the nearest large metro. Housing prices track closely with Peoria's $150,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Peru
The median home value in Peru is $155,600 — 49% below the national median of $305,000. Median rent runs $879/month, 33% lower than the national median of $1,314/month. The median household income of $68,147/year is 9% lower than the US median of $74,580. The local unemployment rate is 3.3%, below the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Peru has a cost of living index of 57 versus the US average of 100, meaning it is 43% less expensive.
Peru has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Peru, IL?
Peru has a cost index of 57 (100 = national average). It is 43% below the national average.
What is average rent in Peru, IL?
The median gross rent in Peru is $879 per month based on 2023 Census data.
What is the average home price in Peru?
The median home value in Peru is $155,600 according to Zillow and Census data.
What is the median income in Peru?
The median household income in Peru is $68,147 per year (2023 ACS 5-year estimates).
What is the sales tax in Peru, IL?
The combined state and local sales tax rate in Peru is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Peru, IL affordable?
Yes, Peru is generally considered affordable, with a cost of living index of 57 — about 43% below the US national average of 100.
Peru at a Glance
- Population
- 9,863
- Median Income
- $68,147
- Home Value
- $155,600
- Median Rent
- $879/mo
- Unemployment
- 3.3%
- Sales Tax
- 8.7%
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Illinois Rankings
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