Peru, IL
Population 9,863 · Illinois
About Peru, IL
Peru is a small town located in Illinois with a population of 9,863 residents according to the latest US Census Bureau American Community Survey data. The median household income is $68,147 per year, which is 9% below the national median of $75,149. The median age of 45.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Peru features a median home value of $155,600, which is 36% below the national median of $244,900. This positions Peru in a moderately priced market relative to the rest of the country. Median monthly rent is $879, 24% below the national average of $1,163/month. Of the 4,912 total housing units, 75% are owner-occupied (3,264 units) and 25% are renter-occupied (1,115 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Peru shows an unemployment rate of 3.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Peru have an average one-way commute time of 18.5 minutes, one of the shorter commutes in the region.
Education & Demographics
21.3% of Peru residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 8.8% White, 0.0% Hispanic or Latino, 0.4% Black or African American, and 0.7% Asian residents, with 5.6% of the population being foreign-born.
Cost of Living in Peru, IL
Compared to national averages, Peru has a median household income of $68,147 (9% below the national median of $75,149). Home values average $155,600, which is 36% below the national median. Monthly rent at $879 is 24% below the US average of $1,163. Within Illinois, Peru's income is 9% below the state average of $75,072, and home values are 6% below the state median of $165,779.
Why Live in Peru, IL?
Peru offers affordable housing with a median home value of $155,600, below the US average of $244,900, and rent that’s lower than the national average at $879/month, and a strong job market with an unemployment rate of just 3.3%. Additionally, the city features a low poverty rate of 9.2%, better than the national average, and short commute times averaging just 18.5 minutes.
Potential considerations include median household income ($68,147) that falls below the national average. However, Peru’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Peru has a population of 9,863 with a median age of 45.4 years. Compare Peru with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Peru
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Harvard | 9,875 | $71,418 | $174,000 | Compare |
| Frankfort Square | 9,777 | $126,953 | $282,100 | Compare |
| Mahomet | 9,755 | $114,904 | $293,200 | Compare |
| Winfield | 9,982 | $143,102 | $363,400 | Compare |
| Sauk Village | 9,724 | $56,946 | $101,900 | Compare |
| Flossmoor | 9,666 | $137,768 | $309,100 | Compare |
| Itasca | 9,525 | $111,898 | $375,600 | Compare |
| Rochelle | 9,477 | $63,373 | $153,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Peru With Other Cities
Frequently Asked Questions about Peru
What is the population of Peru, IL?
The population of Peru, IL is 9,863 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Peru?
The median household income in Peru, IL is $68,147 per year, which is 9% below the national median of $75,149.
What is the median home value in Peru?
The median home value in Peru, IL is $155,600, which is 36% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Peru?
The median monthly rent in Peru, IL is $879, which is 24% below the national average of $1,163/month.
What is the unemployment rate in Peru?
The unemployment rate in Peru, IL is 3.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Peru, IL a good place to live?
Peru offers a moderate cost of living, affordable housing, and a strong job market. With a population of 9,863 and a median age of 45.4, the city appeals to established professionals and retirees.
How educated is Peru, IL?
21.3% of residents in Peru aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Peru?
Key cost-of-living indicators for Peru, IL: median home value is $155,600 (36% below national), median rent is $879/month, and median household income is $68,147. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Peru?
The poverty rate in Peru, IL is 9.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Peru, IL?
Peru's population is 8.8% White, 0.0% Hispanic or Latino, 0.4% Black or African American, 0.7% Asian, and 1.0% two or more races. 5.6% of residents are foreign-born.