111 Main St
PeabodyMA01960
Cheap Apartments for Rent in Peabody, MA from $600 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in Peabody.
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$1,350 - $1,500
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilitySalem Heights
12 Pope StSalem, MA 01970
585 Essex St
LynnMA01901
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
503 Chestnut St
LynnMA01902
192 Washington St
LynnMA01902
108 Franklin St
LynnMA01902
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$1,610 - $2,070
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available Oct 15The Residences at St. James
160 Federal StSalem, MA 01970
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$1,700 - $2,500
Plus Fees
Studio to 2 Bedroom Apartments Contact Us For AvailabilitySalem Highlands
84 Highland AveSalem, MA 01970
1 Kingsley Terrace
LynnMA01902
8 Windsor Ave
LynnMA01902
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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$1,700
Total Monthly Price
1 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,700
Total Monthly Price
$1,700
3 Kingsley Terrace
3 Kingsley TerraceLynn, MA 01902
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$1,700
Total Monthly Price
1 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,700
Total Monthly Price
$1,700
2 Kingsley Terrace
2 Kingsley TerraceLynn, MA 01902
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Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Peabody, MA Local Guide
Peabody Town Center by massmatt is licensed under CC BY 2.0
How much does it cost to rent an apartment in Peabody?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Cheap Peabody Studio Apartments | $2,072 | $1,475 | $3,260 |
| Cheap Peabody 1 Bedroom Apartments | $2,495 | $1,350 | $3,751 |
| Cheap Peabody 2 Bedroom Apartments | $3,061 | $1,500 | $5,000 |
| Cheap Peabody 3 Bedroom Apartments | $3,323 | $2,300 | $4,795 |
| Cheap Peabody 4 Bedroom Apartments | $6,511 | $2,900 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in Peabody
See all Apartments in PeabodyExplore Peabody
Peabody, MA Local Guide
- Peabody Neighborhoods
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Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 09/26/2025Current apartment rentals in the Peabody, MA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Peabody Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Downtown Peabody | $2,550 | $1,600 | 3 |
Cheapest Available Peabody Apartments for Rent
The cheapest available apartment rental in Peabody, MA is a Studio unit found at River Drive Apartments in the Central Peabody neighborhood priced from $1,700. Mosaic in the Central neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,745. Here is today’s list of the most affordable Peabody apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| River Drive Apartments | S1G | Studio,1BA | $1,700 |
| Mosaic | 0 Beds, 1 Baths | Studio,1BA | $1,745 |
| University Square North | 0BR/1.0BA | Studio,1BA | $1,950 |
| University Square South | 0BR/1.0BA | Studio,1BA | $2,000 |
| Maple Square Apartments | Studio, 1 Bathroom | Studio,1BA | $2,025 |
Best Value Apartments for Rent in Peabody, MA
As of September 26, 2025 the best value apartment in the Peabody area is the $1.86 price per square foot 23 Gardner St Model at 23 Gardner St in the in the South Salem neighborhood starting from $2,600. The second greatest value Peabody apartment is the 48 Hamilton Ave Model at 48 Hamilton Ave, Unit 3 starting at $3,000 with a $2.33 price per square foot in the Central neighborhood. Here is today’s list of the best values for Peabody apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 48 Hamilton Ave, Unit 3 | 48 Hamilton Ave | 3BR,1BA | $2.33 |
| 20 Locust St | Concept 2 | 2BR,2BA | $2.26 |
| 20 High Street Lynn, MA 01902 | 2BR/1.0BA | 2BR,1BA | $2.40 |
| 29 Locust St, Unit 2 | 29 Locust St | 2BR,1BA | $2.40 |
| 52 Roslyn St, Unit 2 | 52 Roslyn St | 2BR,1BA | $2.33 |
| 14 North | Aviary Gardens Loft (A1AL) | 1BR,1BA | $2.74 |
| 31 Walter St, Unit 3 | 31 Walter St | 2BR,1BA | $2.57 |
| Ezio‘s Place | Affordable Unit (income restricted) | 1BR,1BA | $2.41 |
| Folly Hill Meadows | 1Bd 1Bt (820 sq ft) | 1BR,1BA | $2.74 |
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Best Local Schools in Peabody, MA
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Getting Around Peabody, MA
Walk Score®
62 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
42 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
1 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Peabody Apartments
What is the Cheapest Studio apartment in Peabody?
Currently the most affordable Cheap Studio Apartment in Peabody is at River Drive Apartments listed at $1,700.
How much is rent for a Cheap One Bedroom Peabody Apartment?
The lowest price for a Cheap One Bedroom Peabody Apartment is $1,995 at Mosaic.
What is the lowest price for a Cheap Two Bedroom Peabody Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Peabody is starting from $2,199 at Peabody Place, LLC..
What is the most affordable Peabody Three Bedroom Apartment?
The best deal on a cheap Peabody Three Bedroom Apartment rental is at Alexan Peabody and starts from $3,755.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
The 10 Best Affordable Neighborhoods in Boston, MA
Written by: Amelia Ramstead
Boston is known for its exciting combination of early American history and modern high-tech universities and employers.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.