Peru, IN—46970
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Peru, IN
As of Oct '25, the median home price in Peru, IN is $143,000, with a year-over-year change of 8.0%. This indicates that home prices in Peru, IN are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $143,000 | 8.0% |
| Single Family | $144,000 | 9.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $81,000 | 1.2% |
2 Bed | $103,000 | 9.6% |
3 Bed | $150,000 | 8.7% |
4 Bed | $189,000 | 8.6% |
| 5 Bed | $236,000 | 7.3% |
% of Housing Stock
Rental Trends — Peru, IN
As of July '25, Rentcast reports the average rent in Peru, IN is $860, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Peru, IN is 1-bedrooms: $740, 2-bedrooms: $893, 3-bedrooms: $942, 4-bedrooms: $1,200. The most common rental property sizes in Peru, IN are 3-bedroom and 2-bedroom, accounting for 38.5% and 26.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $845 | $860 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $799 | $740 |
| 2 Bed Rent | $899 | $893 |
| 3 Bed Rent | $1,050 | $942 |
| 4 Bed Rent | $1,200 | $1,200 |
% of Rental Stock
Property Listings — Peru, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Peru, IN is 50. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $177,000 | 0.0% |
Listing Count | 70 | 16.0% |
| Listings as % of Homes | 0.5% | 16.0% |
Days on Market | 50 | 19.0% |
Demographics — Peru, IN
As of the latest ACS Survey released in 2023, Peru, IN has a population of 23,100, which has decreased by -1.1% over the past 5 years. Peru, IN is a moderately popular place for families, as children make up 22.0% of the population. The area has a poorly educated workforce, with 15.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,100 | -1.1% |
% Under 18 | 22.0% | 4.8% |
% Seniors | 18.5% | 15.6% |
% WFH | 4.6% | 187.5% |
% w/ College Degree | 15.9% | 23.3% |
As of the latest ACS Survey released in 2023, Peru, IN is a predominantly white area, with 86.6% of the population identifying as white. The white population has grown by 1.6% in the last 5 years. The second most common race or ethnicity in Peru, IN is hispanic, making up 4.5% of the population. Foreign-born residents account for 0.8% of the population in Peru, IN, and this percentage has decreased by 42.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.6% | 1.6% |
% Black | 3.3% | -56.0% |
% Hispanic | 4.5% | 4.7% |
% Asian | 0.2% | -60.0% |
% Foreign Born | 0.8% | -42.9% |
Mortgage and Risk — Peru, IN
According to HUD data as of 2023, there were 263 mortgage originations in Peru, IN, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Peru, IN. Investor activity is low, as 3.0% of loans were by investors. 22.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 263 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 22.0% |
Loan Activity
Rentals and Section 8 — Peru, IN
Peru, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 405 |
Total Units Section 8 | 302 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 77.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$19 | $799 | $780 |
| 2 Bedroom | $71 | $899 | $970 |
| 3 Bedroom | $140 | $1,050 | $1,190 |
| 4 Bedroom | $260 | $1,200 | $1,460 |
Affordability — Peru, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $143,000 |
| Median Household Income | $56,700 |