Peru, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Peru Neighborhoods Since 2000




Peru, IN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Peru Housing Market Information

With 11,060 people, 4,370 houses or apartments, and a median cost of homes of $67,363, house prices in Peru are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Peru, accounting for 74.08% of the city's housing units. Other types of housing that are prevalent in Peru include mobile homes or trailers ( 10.16%), duplexes, homes converted to apartments or other small apartment buildings ( 9.02%), and a few large apartment complexes or high rise apartments ( 6.00%).

The most prevalent building size and type in Peru are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.11% owning and 37.89% renting.

The housing in Peru was primarily built before 1939 ( 52.17%), making the housing stock in Peru some of the oldest overall in America, although there is a range of ages of homes in Peru. The next most important housing age is between 1940-1969 ( 23.63%), followed by between 1970-1999 ( 22.56%). There's also some housing in Peru built between 2000 and later ( 1.64%).

Vacant housing appears to be an issue in Peru. Fully 16.52% of the housing stock is classified as vacant. Left unchecked, vacant Peru homes and apartments can be a drag on the real estate market, holding Peru real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Peru Home Appreciation Rates

Real estate appreciation rates in Peru's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.74% during the period.

Over the last year, Peru appreciation rates have trailed the rest of the nation. In the last twelve months, Peru's appreciation rate has been 1.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Peru were at -1.14%, which equates to an annual appreciation rate of -4.49%.

Notably, Peru's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Peru's latest annual appreciation rate is lower than 70% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Peru differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Peru - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Peru real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$67,363

Peru, IN HOME PRICES

Value Range
> $1,051,000 0.2
$788,001 - $1,051,000 0.2
$525,001 - $788,000 0.9
$420,001 - $525,000 0.2
$315,001 - $420,000 0.2
$210,001 - $315,000 2.0
$105,001 - $210,000 14.1
$53,001 - $105,000 48.5
$0 - $53,000 33.8

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
96.2264150943396 97.737556561086

Number Of Homes And Apartments:
4,370

Peru Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-3.68% -0.22% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$826 / per month

Homeownership Rate

Homeownership
Owners 62.11
Renters 37.89
Vacant 16.52

Housing Market Details

 

Age of Homes

AGE OF Peru HOMES
2000 or Newer 1.6
1970 - 1999 22.6
1940 - 1969 23.6
1939 or Older 52.2

Types of Homes

TYPE OF Peru HOMES
Single-Family 74.1
Townhomes 0.7
Small Apt. Buildings 9.0
Apt. Complexes 6.0
Mobile Homes 10.2
Other 0.0

Home Size

SIZE OF Peru HOMES
No Bedroom 0.00
1 Bedroom 14.17
2 Bedrooms 31.50
3 Bedrooms 36.77
4 Bedrooms 15.30
5 or more bedrooms 2.25