How much are the rents in Peru right now? (2026)

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THE LATINVESTOR

A team specialized in real estate investing in LATAM countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Peru. If you’d like to learn more about us, you can check our presentation page.

What are typical rents in Peru as of 2026?

What's the average monthly rent for a studio in Peru as of 2026?

as of 2026, the estimated average monthly rent for a studio in Peru is about S/1,550, which is around $430 or €400 using simple rounded exchange rates for June 2026.

In practice, most studio rents in Peru fall between S/1,050 and S/2,300 per month, which is roughly $290 to $640 or €270 to €590, because Lima studios cost much more than studios in Arequipa, Trujillo or Chiclayo.

The biggest reasons studio rents vary in Peru are the district, walkability, building security, whether the apartment is furnished, and whether the studio is near Miraflores, Barranco, San Isidro, a university zone or a strong public transport corridor.

What's the average monthly rent for a 1-bedroom in Peru as of 2026?

as of 2026, the estimated average monthly rent for a 1-bedroom apartment in Peru is about S/2,000, which is around $555 or €510.

Most 1-bedroom apartments in Peru rent for S/1,300 to S/2,800 per month, or about $360 to $780 and €335 to €720, with Lima Top districts sitting at the high end of that range.

The cheapest 1-bedroom rents are usually found in secondary cities and middle Lima districts like San Miguel, Pueblo Libre and parts of Lince, while Miraflores, Barranco and San Isidro usually have the highest 1-bedroom rents in Peru.

What's the average monthly rent for a 2-bedroom in Peru as of 2026?

as of 2026, the estimated average monthly rent for a 2-bedroom apartment in Peru is about S/2,650, which is around $735 or €680.

Most 2-bedroom apartments in Peru rent for S/1,800 to S/3,900 per month, or about $500 to $1,085 and €460 to €1,000, with Lima’s most liquid districts again pulling the national average upward.

The cheaper 2-bedroom rents are often found in provincial cities and in Lima districts like San Miguel, Pueblo Libre and some parts of Magdalena, while Barranco, San Isidro and Miraflores are usually the most expensive.

By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Peru.

What's the average rent per square meter in Peru as of 2026?

as of 2026, the estimated average rent per square meter in Peru is about S/26 per m² per month, which is around $7.20 or €6.70 per m².

Across Peru, a realistic range is S/22 to S/42 per m² per month, or about $6 to $12 and €6 to €11, with the highest figures in modern apartments in Barranco, San Isidro and Miraflores.

Compared with other Peruvian cities, Lima is clearly more expensive, while Arequipa, Trujillo, Chiclayo, Piura and many Cusco residential areas are usually much cheaper for similar apartment sizes.

Rent per square meter in Peru rises above average when an apartment is modern, furnished, close to work hubs, near the coast, near universities, in a secure building or near good transport.

How much have rents changed year-over-year in Peru in 2026?

as of 2026, average rents in Peru are estimated to be up about 3% to 5% year over year, while Lima apartments are closer to 4% to 7% in stronger districts.

This increase is mainly driven by Lima job concentration, demand for small apartments, better tenant demand in central districts, and limited supply of good well-located units.

Compared with 2025, Peru rent growth in 2026 looks firmer in Lima, but not explosive, because tenant budgets still limit how much landlords can raise rents.

What's the outlook for rent growth in Peru in 2026?

as of 2026, projected rent growth in Peru is about 3% to 5% for the full year, while Lima could grow closer to 4% to 6% if demand stays healthy.

The main factors behind this outlook are private consumption, Lima employment, household affordability, inflation, mortgage conditions and the cautious mood before Peru’s political transition settles.

The neighborhoods most likely to see stronger rent growth are Surquillo, Lince, Magdalena, San Miguel, Jesús María and selected Line 2 corridor areas, because these locations offer access without the full Miraflores or San Isidro rent premium.

The main risks are weaker job growth, political stress, higher inflation, exchange-rate pressure and too much new supply in small apartment buildings.

Which neighborhoods rent best in Peru as of 2026?

Which neighborhoods have the highest rents in Peru as of 2026?

as of 2026, the top three high-rent neighborhoods in Peru are Barranco at about S/4,300 per month, San Isidro at about S/4,200, and Miraflores at around S/3,800 to S/4,100 for a good 100 m² apartment, or roughly $1,055 to $1,200 and €975 to €1,100.

These Lima neighborhoods command premium rents because they offer safety perception, restaurants, offices, sea access, walkability, better buildings and a deeper pool of tenants who can pay more.

The usual tenants in these high-rent Peru neighborhoods are expats, corporate tenants, upper-income professionals, couples without children and some relocating families.

By the way, we’ve written a blog article detailing Sources and methodology: we used Infobae’s Urbania April 2026 report, Urbania and BCRP San Isidro. We used published district rent anchors first. We then checked whether BCRP sale-rent ratios supported the premium.

Where do young professionals prefer to rent in Peru right now?

The top three Peru neighborhoods for young professionals are usually Miraflores, Surquillo and Lince, with Barranco, Magdalena and Jesús María also strong for renters who want lifestyle or better value.

Young professionals in these Lima neighborhoods usually pay S/2,000 to S/3,200 per month, or about $555 to $890 and €510 to €820, depending on apartment size and building quality.

These areas attract young professionals because they are close to jobs, restaurants, gyms, coworking spaces, nightlife, parks and short commutes to San Isidro or Miraflores.

By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Peru.

Where do families prefer to rent in Peru right now?

The top three Peru neighborhoods for families are usually Santiago de Surco, San Borja and La Molina, with San Miguel, Magdalena, Pueblo Libre and Jesús María also popular for more affordable family rentals.

Families in these Lima neighborhoods usually pay S/2,800 to S/5,000 per month for 2-bedroom or 3-bedroom apartments, which is around $780 to $1,390 and €720 to €1,280.

These neighborhoods attract families because they offer larger apartments, parking, security, parks, quieter streets, supermarkets and easier access to schools.

Well-known school options near these family areas include Markham College in Miraflores, Colegio Roosevelt in La Molina, Colegio San Silvestre in Miraflores, Colegio Santa María Marianistas in Surco and several bilingual schools around Surco, La Molina and San Borja.

Which areas near transit or universities rent faster in Peru in 2026?

as of 2026, the three Peru areas near transit or universities that tend to rent fastest are San Miguel and Pueblo Libre near university demand, Surquillo and Lince near job zones, and Line 2-linked areas like San Luis, La Victoria and Ate.

Good apartments in these high-demand areas usually stay listed for about 20 to 35 days when priced correctly, while overpriced or older units can take 60 days or more.

The typical rent premium for being within walking distance of strong transport or university demand is about S/150 to S/400 per month, or roughly $40 to $110 and €40 to €100.

Which neighborhoods are most popular with expats in Peru right now?

The top three Peru neighborhoods for expats are Miraflores, Barranco and San Isidro, with Santiago de Surco also common for expat families who want more space.

Expats in these neighborhoods usually pay S/2,600 to S/5,000 per month, or about $720 to $1,390 and €670 to €1,280, depending on whether the apartment is furnished and close to the coast or office zones.

These Lima neighborhoods attract expats because they feel easier to navigate, have restaurants and cafes, stronger building security, furnished apartments, coastal lifestyle and better access to English-friendly services.

The most visible expat groups in these areas include North Americans, Europeans, Latin American professionals and some Asian business or diplomatic households, although Peru does not publish a clean neighborhood-level expat rental registry.

And if you are also an expat, you may want to read our Sources and methodology: we used Urbania, Global Property Guide rents and BCRP Miraflores. We linked rent levels with expat-friendly apartment stock. We also used our own expat demand notes for Peru.

Who rents, and what do tenants want in Peru right now?

What tenant profiles dominate rentals in Peru?

The top three tenant profiles in Peru are young Lima professionals, middle-income families and students or expats, with corporate tenants also important in San Isidro, Miraflores and Barranco.

A practical split is about 35% young professionals and couples, 30% families, 20% students and local mobile workers, and 15% expats or corporate tenants in the most investment-relevant urban rental market.

Young professionals usually want studios or 1-bedroom apartments, families want 2-bedroom or 3-bedroom homes, and expats or corporate tenants often want furnished, secure and well-located apartments.

If you want to optimize your cashflow, you can read our Sources and methodology: we used INEI ENAHO, Urbania and INEI housing statistics. We used official household context and portal rent behavior. We then mapped tenant groups with our own Peru rental demand model.

Do tenants prefer furnished or unfurnished in Peru?

In Peru, a realistic estimate is that about 65% to 75% of long-term tenants prefer unfurnished or semi-furnished rentals, while 25% to 35% prefer furnished rentals in expat, student and short-stay areas.

A furnished apartment in Peru can usually charge S/250 to S/800 more per month, or about $70 to $220 and €65 to €205, with the strongest premium in Miraflores, Barranco, San Isidro and Cusco.

The tenants who prefer furnished rentals in Peru are mostly expats, digital nomads, corporate tenants, students from outside Lima and renters staying for less than one year.

Which amenities increase rent the most in Peru?

The five amenities that increase rent the most in Peru are parking, building security, elevator, modern kitchen and laundry area, with balcony or terrace also valuable in premium Lima districts.

Typical monthly premiums are about S/200 to S/500 for parking, S/150 to S/350 for strong security, S/100 to S/250 for an elevator, S/150 to S/400 for a refreshed kitchen and S/100 to S/300 for good laundry space, which together can add roughly $30 to $140 or €25 to €130 per feature.

In our property pack covering the real estate market in Peru, we cover what are the best investments a landlord can make.

What renovations get the best ROI for rentals in Peru?

The five renovations with the best ROI in Peru rentals are bathroom refresh, kitchen refresh, repainting, better lighting and storage, plus anti-humidity work in coastal Lima apartments.

A simple repaint can cost S/1,200 to S/3,000 and add S/100 to S/200 in rent, lighting and storage can cost S/1,000 to S/3,500 and add S/100 to S/250, a bathroom refresh can cost S/5,000 to S/12,000 and add S/200 to S/500, a kitchen refresh can cost S/6,000 to S/18,000 and add S/250 to S/700, and anti-humidity work can cost S/1,500 to S/6,000 and protect rent value, which roughly equals $280 to $5,000 or €255 to €4,600 in renovation cost ranges.

Poor ROI renovations in Peru are usually luxury finishes in mid-market buildings, oversized built-in furniture, expensive smart-home systems and full remodels in weak locations where tenants cannot pay premium rent.

How strong is rental demand in Peru as of 2026?

What's the vacancy rate for rentals in Peru as of 2026?

as of 2026, the estimated vacancy rate for well-located rental apartments in Peru is about 6% to 9%, while good Lima apartments are closer to 4% to 6% when priced correctly.

Across Peru, vacancy can be as low as 3% to 5% in strong Lima districts such as Miraflores, Barranco, San Isidro, Surquillo and Lince, but it can rise above 10% for overpriced, old, large or poorly located apartments.

Compared with the historical average, Peru rental vacancy in 2026 looks slightly tighter in the best Lima districts, but still normal in secondary cities and weaker locations.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Peru.

How many days do rentals stay listed in Peru as of 2026?

as of 2026, a realistic average for rentals in Peru is about 35 to 60 days on market, while good Lima apartments can rent in about 20 to 35 days.

The realistic range is 20 to 35 days for well-priced small Lima apartments, 35 to 60 days for average units, and 60 to 90 days or more for large, old, overpriced or poorly presented rentals.

Compared with one year ago, days on market in Peru look slightly shorter in the strongest Lima districts, but not dramatically different in secondary cities.

Which months have peak tenant demand in Peru?

The peak months for tenant demand in Peru are usually January, February, March, July and August, especially in Lima rental neighborhoods tied to work, schools and universities.

January to March is strong because of job changes, the school year, university moves and relocation plans, while July and August often bring mid-year work and study moves.

The slower rental months in Peru are usually May, June, November and December, because many tenants avoid moving during holidays, exam periods or year-end expenses.

What will my monthly costs be in Peru as of 2026?

What property taxes should landlords expect in Peru as of 2026?

as of 2026, a typical Peru landlord should expect annual property tax of about S/500 to S/2,500 for many apartments, which is around $140 to $695 or €130 to €640.

The realistic annual range can be below S/500 for lower assessed values and above S/4,000 for expensive Lima properties, or roughly below $140 to above $1,110 and below €130 to above €1,025.

Property tax in Peru is based on municipal assessed value, not the market sale price, with progressive rates of 0.2%, 0.6% and 1.0% depending on the taxable value band.

Please note that, in our property pack covering the real estate market in Peru, we cover what exemptions or deductions may be available to reduce property taxes for landlords.

What utilities do landlords often pay in Peru right now?

In Peru, landlords most often pay predial property tax, some municipal charges and major repairs, while tenants usually pay electricity, water, internet, gas and monthly building maintenance.

When landlords do pay utilities or bundled costs, common monthly amounts are S/80 to S/180 for water, S/120 to S/280 for electricity, S/80 to S/160 for internet and S/150 to S/600 for building maintenance, which is roughly $20 to $165 or €20 to €155 depending on the item.

The common practice in Peru is to put normal consumption costs on the tenant, but the landlord must still watch arrears, condominium rules and lease wording carefully.

How is rental income taxed in Peru as of 2026?

as of 2026, individual landlords in Peru usually pay first-category rental income tax at 5% of gross rent, so S/3,000 of rent creates about S/150 of tax, or around $42 and €38.

For individual residential landlords, Peru’s simple rental tax treatment gives little room for normal expense deductions against the 5% gross-rent tax, so maintenance, vacancy and repairs must be budgeted separately.

The most common Peru-specific tax mistakes are not paying the 5% monthly tax, ignoring the minimum rent test based on 6% of municipal autovalúo, forgetting that 2026 rules focus on rent actually received, and treating tenant arrears too casually.

We cover these mistakes, among others, in our Sources and methodology: we used SUNAT rental income calculator, SUNAT first-category income page and Peruvian government tax guidance. We kept the tax explanation for individual landlords. We did not cover company structures or special treaty cases.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Peru versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

What sources have we used to write this blog article?

Whether it’s in our blog articles or the market analyses included in our property pack about Peru, we always rely on the strongest methodology we can, and we don’t throw out numbers at random.

We also aim to be fully transparent, so below we’ve listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

Source	Why we trust it	How we used it
BCRPData - Mercado inmobiliario	Peru’s central bank is the strongest official source for structured Lima real-estate indicators.	We used it to anchor Lima apartment sale-rent ratios and district coverage. We treated BCRP as the official benchmark, not as a live asking-rent source.
BCRPData - PER Promedio	This BCRP series tracks the average price-to-rent balance for Lima apartments.	We used it to sanity-check rental yields and rent-price balance. We used the latest available Q4 2025 data as the official baseline entering 2026.
BCRPData - PER San Isidro	San Isidro is one of Peru’s most expensive and important rental districts.	We used it to check whether high San Isidro rents are supported by property prices. We compared the official ratio with Urbania asking-rent evidence.
BCRPData - PER Miraflores	Miraflores is a core expat, investor and long-term rental district in Lima.	We used it to validate Miraflores as a premium but liquid rental market. We used the series for ranking and context, not exact monthly rents.
INEI - IPC and price reports	INEI is Peru’s official statistics agency for inflation and consumer prices.	We used it to compare rent growth with general inflation. We used INEI as the official inflation reference instead of relying only on property portals.
INEI - ENAHO	ENAHO is Peru’s official household survey and covers housing, income and living conditions.	We used it to frame tenant profiles and affordability. We did not use it for exact market rents because it is not a listings database.
SUNAT - rental income tax calculator	SUNAT is Peru’s official tax authority for rental income.	We used it to state the 5% tax on gross rent. We also used SUNAT guidance for 2026 rent-received timing.
SUNAT - first-category income	This is SUNAT’s official page for individual rental income in Peru.	We used it to explain what counts as first-category rental income. We kept the tax explanation simple for individual landlords.
MTC - Lima Metro Line 2 progress	MTC is the government authority for Peru’s transport infrastructure.	We used it to identify transit-linked rental demand. We focused on Line 2 areas such as Ate, Santa Anita, San Luis, La Victoria, Cercado, Breña and Callao.
IMF - Peru country page	The IMF gives internationally comparable macro forecasts for Peru.	We used it to cross-check Peru’s 2026 growth and inflation outlook. We used it for the rent-growth ceiling, not for neighborhood rents.
World Bank - Peru country page	The World Bank gives a broad view of Peru’s economy, poverty and household conditions.	We used it to test whether income and employment conditions support rental demand. We used it to keep the outlook conservative.
BBVA Research - Peru Economic Outlook June 2026	BBVA Research gives Peru-specific macro analysis from a major bank research team.	We used it to update the June 2026 view on growth, inflation, rates and exchange-rate pressure. We used it to explain why rent growth should stay positive but not explosive.
Urbania Index Lima	Urbania is one of Peru’s main property portals and publishes a recurring Lima market index.	We used it for current asking rents because official Peru rent data is limited. We cross-checked Urbania with BCRP and press reports.
Infobae report citing Urbania April 2026	It reports the April 2026 Urbania rent figures clearly and links the data to a named market index.	We used it for the S/3,356 Lima average and premium-district rent levels. We treated it as a secondary citation to Urbania, not as the primary dataset.
Global Property Guide - Peru rents	Global Property Guide is an established international real-estate data provider with a clear rent methodology.	We used it to cross-check 1-bedroom asking rents. We placed it below BCRP and Urbania in the source hierarchy.
Global Property Guide - Peru yields	It compares rents with purchase prices across Peruvian locations.	We used it to sanity-check yield and rent-to-price estimates. We only used it where its method matched asking-rent market evidence.