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Cheap Apartments for Rent in Peabody, MA from $600 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in Peabody.
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$800
Total Monthly Price12 Month Lease Term
3 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$800
Total Monthly Price
$800
1 Hathorne Cres
1 Hathorne CresSalem, MA 01970
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$1,450 - $1,600
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilitySalem Heights
12 Pope StSalem, MA 01970
2 Victory Rd
LynnMA01902
585 Essex St
LynnMA01901
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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$1,610 - $2,070
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Contact Us For AvailabilityThe Residences at St. James
160 Federal StSalem, MA 01970
2 Kingsley Terrace
LynnMA01902
4 Kingsley Terrace
LynnMA01902
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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
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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Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
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Boston Major Employer Neighborhood Guide: Living Near UMass, MGH, & State Street
Get the local scoop! ApartmentHomeLiving's Boston Expert reveals the best neighborhoods to rent for employees of UMass Boston, Mass General Hospital, State Street, and more.
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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 | $2,075 | $1,495 | $2,999 |
| Cheap Peabody 1 Bedroom Apartments | $2,499 | $1,450 | $3,995 |
| Cheap Peabody 2 Bedroom Apartments | $2,957 | $1,600 | $4,763 |
| Cheap Peabody 3 Bedroom Apartments | $3,281 | $800 | $4,705 |
| Cheap Peabody 4 Bedroom Apartments | $3,208 | $2,900 | $3,375 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in Peabody
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Peabody, MA Local Guide
- Peabody Neighborhoods
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Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 12/26/2025Current 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 | $3,000 | $1,950 | 10 |
Cheapest Available Peabody Apartments for Rent
The cheapest available apartment rental in Peabody, MA is a Studio unit found at University Square North in the South Salem neighborhood priced from $1,695. Perry Street Apartments in the Central Peabody neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,750. Here is today’s list of the most affordable Peabody apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| University Square North | 0BR/1.0BA | Studio,1BA | $1,695 |
| Perry Street Apartments | 11-#3 | 1BR,1BA | $1,750 |
| Historic 1 Harbor St | 1BR/1.0BA | 1BR,1BA | $1,750 |
| Park Towers | 1 Bedroom Apt | 1BR,1BA | $1,900 |
| Mosaic | 0 Beds, 1 Baths | Studio,1BA | $1,945 |
Best Value Apartments for Rent in Peabody, MA
As of December 26, 2025 the best value apartment in the Peabody area is the $1.88 price per square foot Three Bedroom Model at 23 Prince Street Apartments in the in the Choate Farm neighborhood starting from $3,750. The second greatest value Peabody apartment is the 23 Gardner St Model at 23 Gardner St starting at $2,600 with a $1.86 price per square foot in the South Salem 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 Prince Street Apartments | Three Bedroom | 3BR,1.5BA | $1.88 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 100 Washington St, Unit 26 | 100 Washington St | 2BR,1BA | $1.63 |
| 37 Endicott St, Unit 3 | 37 Endicott St | 2BR,1BA | $1.67 |
| 6 Wheeler St, Unit 1 | 6 Wheeler St | 1BR,1BA | $2.03 |
| 26 Gregg St, Unit 2 | 26 Gregg St | 2BR,1BA | $2.60 |
| 20 High Street Lynn, MA 01902 | 2BR/1.0BA | 2BR,1BA | $2.20 |
| 31 Walter St, Unit 3 | 31 Walter St | 2BR,1BA | $2.57 |
| 17 Dunlap St, Unit 2A | 17 Dunlap St | Studio ,1BA | $1.88 |
| Park Towers | 1 Bedroom Apt | 1BR,1BA | $2.53 |
Boston Neighborhood Guide: Living Near UMass, MGH, and State Street
Get the local scoop! ApartmentHomeLiving's Boston Expert reveals the best neighborhoods to rent for employees of UMass Boston, Mass General Hospital, State Street, and more.
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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.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleTop Neighborhoods Near Boston Colleges and Universities
Learn About the Best Neighborhoods to Rent Near College Campuses in Boston, MA | Find Boston Off-Campus Student Housing at ApartmentHomeLiving.com
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Best Local Schools in Peabody, MA
School data provided by Great Schools
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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 University Square North listed at $1,695.
How much is rent for a Cheap One Bedroom Peabody Apartment?
The lowest price for a Cheap One Bedroom Peabody Apartment is $1,750 at Perry Street Apartments.
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 $2,200 at 20 High Street Lynn, MA 01902.
What is the most affordable Peabody Three Bedroom Apartment?
The best deal on a cheap Peabody Three Bedroom Apartment rental is at Bradlee Danvers and starts from $3,409.
Expert Rental Resources
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.
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The 10 Best Affordable Neighborhoods in Boston, MA
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How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!