The typical owner-occupied home in Peru is worth about $216,600, 49% below the New York median of $423,800 and 35% below the national median of $332,700. Owners pay a median $4,462 a year in property taxes, about 2.06% of their home's value, higher than the New York rate of 1.55%. The median household earns $66,812 a year, so the median home costs 3.2 times the median income (4.9 times for New York). 67% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Peru at a glance
| Peru | New York | U.S. | |
|---|---|---|---|
| Median home value | $216,600 | $423,800 | $332,700 |
| Median property tax paid per year | $4,462 | $6,582 | $3,119 |
| Property tax as a share of value | 2.06% | 1.55% | 0.94% |
| Median household income | $66,812 | $85,974 | $80,734 |
| Homes lived in by their owners | 67% | 54% | 65% |
| Owner homes with a mortgage | 59% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,544 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 20.2% | 22.5% | 21.0% |
| Median rent | $1,042 | $1,621 | $1,413 |
| Rent as a share of renters' income | 31.4% | 31.2% | 30.6% |
| Median year homes were built | 1957 | 1959 | 1980 |
| Vacant homes | 0.0% | 10.0% | 10.1% |
| Population | 1,965 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Peru
At this week's average 30-year rate of 7.11%, buying the median Peru home of $216,600 with 20% down costs about $1,628 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,989, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $69,761 for the 20%-down payment. That payment is 29% of the median Peru household income of $66,812; at that income and 20% down, the 28% guideline points to a home of about $207,000.
The median rent here is $1,042 a month, so owning the median home costs about $586 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,320 |
|---|---|
| Loan amount | $173,280 |
| Principal and interest | $1,166 |
| Property taxes (2.06% a year) | $372 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| PMI | $0 |
| Total per month | $1,628 |
Change the numbers in the calculator
| Down payment | $7,581 |
|---|---|
| Loan amount | $212,677 |
| Principal and interest | $1,431 |
| Property taxes (2.06% a year) | $372 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| FHA mortgage insurance | $96 |
| Total per month | $1,989 |
Change the numbers in the calculator
Questions about home buying in Peru
What is the median home value in Peru?
About $216,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Peru?
Homeowners pay a median $4,462 a year, which is about 2.06% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Peru?
For the median home with 20% down at 7.11%, the payment is about $1,628 a month. Keeping that under 28% of gross income takes about $69,761 a year.
More about Peru
- Mortgage Refinance in Peru
- Debt Relief in Peru
- Home Equity Loans in Peru
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data