Peterhouse houses all its undergraduate students.  Room licences run for 29 weeks of the year split into 9 weeks in Michaelmas and 10 weeks in Lent and Easter, around the University's academic term dates.  Rents are inclusive of gas, internet, and insurance and vary based on room size and facilities.  Rents fall into roughly 6 bands:

Band 1 - £1511-1930 per term

Band 2 - £1386-1510 per term

Band 3 - £1251-1385 per term

Band 4 - £1111-1250 per term

Band 5 - £956-1110 per term

Band 6 - £745-955 per term

First-year students, or 'freshers', usually live in either the William Stone Building, or in one of the houses on St Peter's Terrace.