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Cheap Apartments for Rent in Peabody, MA from $900 (22 Rentals)
Search the lowest-cost Apartments available for rent right now in Peabody.
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Rent Specials
from $1,8001 to 2 Bedroom Apartments Contact Us For Availability
Terrace Gardens
2 Esquire DrPeabody, MA 01960
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40R Highland Ave
SalemMA01970
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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from $1,3501 to 2 Bedroom Apartments Contact Us For Availability
Salem Heights
12 Pope StSalem, MA 01970
585 Essex St
LynnMA01901
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from $1,610Studio to 2 Bedroom Apartments Available Oct 15
The Residences at St. James
160 Bridge StSalem, MA 01970
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122 Bridge St
BeverlyMA01915
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from $1,700Studio to 2 Bedroom Apartments Contact Us For Availability
Salem Highlands
84 Highland AveSalem, MA 01970
160 Federal St
SalemMA01970
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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
50 Baldwin St
LynnMA01902
16 Turner St
SalemMA01970
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Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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Showing Results 1-22, Page 1 of 1
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 Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Peabody Studio Apartments | $2,149 | $1,050 | $3,149 |
| Cheap Peabody 1 Bedroom Apartments | $2,659 | $1,350 | $10,000+ |
| Cheap Peabody 2 Bedroom Apartments | $3,218 | $1,500 | $10,000+ |
| Cheap Peabody 3 Bedroom Apartments | $3,400 | $2,400 | $4,890 |
| Cheap Peabody 4 Bedroom Apartments | $3,400 | $2,800 | $4,200 |
Browse Top Apartments in Peabody
See all Apartments in PeabodyExplore Peabody
Peabody, MA Local Guide
- Peabody Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 06/27/2025Current 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 | $2,900 | $2,000 | 10 |
Cheapest Available Peabody Apartments for Rent
The cheapest available apartment rental in Peabody, MA is a 1 Bed unit found at 1 Harbor in the South Salem neighborhood priced from $1,800. Mosaic in the Central neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,895. Here is today’s list of the most affordable Peabody apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 1 Harbor | 1BR/1.0BA | 1BR,1BA | $1,800 |
| Mosaic | 0 Beds, 1 Baths | Studio,1BA | $1,895 |
| Holmes Beverly | Studio | Studio,1BA | $2,000 |
| Ezio‘s Place | Affordable Unit (income restricted) | 1BR,1BA | $2,050 |
| River Drive Apartments | A1G | 1BR,1BA | $2,100 |
Best Value Apartments for Rent in Peabody, MA
As of June 28, 2025 the best value apartment in the Peabody area is the $0.24 price per square foot 85 Timson St Model at 85 Timson St, Unit #1 in the in the East Lynn neighborhood starting from $2,400. The second greatest value Peabody apartment is the Two Bedroom Model at Spring Meadows starting at $3,050 with a $1.53 price per square foot in the Choate Farm 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. |
|---|---|---|---|
| 85 Timson St, Unit #1 | 85 Timson St | 2BR,1BA | $0.24 |
| Spring Meadows | Two Bedroom | 2BR,1.5BA | $1.53 |
| 150 Allen Ave, Unit 1 | 150 Allen Ave | 3BR,3BA | $1.87 |
| 35 Pacific St, Unit #2 | 35 Pacific St | 2BR,1BA | $1.73 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 132 North St, Unit #2 | 132 North St | 2BR,2BA | $1.86 |
| 20 High Street Lynn, MA 01902 | 2BR/1.0BA | 2BR,1BA | $2.40 |
| 36 Upham St, Unit #1 | 36 Upham St | 1BR,1BA | $2.30 |
| 122 Bridge St, Unit #3 | 122 Bridge St | 1BR,1BA | $1.70 |
| 9 Bowditch St, Unit #2 | 9 Bowditch St | 2BR,1BA | $2.40 |
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Best Local Schools in Peabody, MA
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
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See the most popular apartments and homes in Peabody, MA
Peabody, MA Apartments MapPeabody, MA Rental Homes MapGetting 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 Mosaic listed at $1,895.
How much is rent for a Cheap One Bedroom Peabody Apartment?
The lowest price for a Cheap One Bedroom Peabody Apartment is $1,800 at 1 Harbor.
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 River Drive Apartments.
What is the most affordable Peabody Three Bedroom Apartment?
The best deal on a cheap Peabody Three Bedroom Apartment rental is at 14 North and starts from $3,352.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.