111 Main St
PeabodyMA01960
Cheap Apartments for Rent in Peabody, MA from $900 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in Peabody.
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$1,350 - $1,5001 to 2 Bedroom Apartments Contact Us For Availability
Salem Heights
12 Pope StSalem, MA 01970
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$1,473 - $2,188Studio to 3 Bedroom Apartments Contact Us For Availability
The Lighthouses
34 Peabody StSalem, MA 01970
503 Chestnut St
LynnMA01902
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.
192 Washington St
LynnMA01902
108 Franklin St
LynnMA01902
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$1,610 - $2,070Studio to 2 Bedroom Apartments Available Oct 15
The Residences at St. James
160 Federal StSalem, MA 01970
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$1,700 - $2,500Studio to 2 Bedroom Apartments Contact Us For Availability
Salem Highlands
84 Highland AveSalem, MA 01970
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Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
The 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.
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Cash 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.
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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 Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Peabody Studio Apartments | $2,025 | $1,473 | $3,299 |
| Cheap Peabody 1 Bedroom Apartments | $2,626 | $1,350 | $10,000+ |
| Cheap Peabody 2 Bedroom Apartments | $3,277 | $1,500 | $10,000+ |
| Cheap Peabody 3 Bedroom Apartments | $3,420 | $2,188 | $4,905 |
| Cheap Peabody 4 Bedroom Apartments | $3,649 | $3,000 | $3,999 |
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: 08/12/2025Current 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 | $1,600 | 2 |
Cheapest Available Peabody Apartments for Rent
The cheapest available apartment rental in Peabody, MA is a Studio unit found at Mosaic in the Central neighborhood priced from $1,725. Residences at Lafayette LLC- 176 Lafayette in the South Salem neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,850. Here is today’s list of the most affordable Peabody apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Mosaic | 0 Beds, 1 Baths | Studio,1BA | $1,725 |
| Residences at Lafayette LLC- 176 Lafayette | 1BR/1.0BA | 1BR,1BA | $1,850 |
| River Drive Apartments | S1G | Studio,1BA | $1,900 |
| Maple Square Apartments | Studio, 1 Bathroom | Studio,1BA | $2,025 |
| Ezio‘s Place | Affordable Unit (income restricted) | 1BR,1BA | $2,050 |
Best Value Apartments for Rent in Peabody, MA
As of August 12, 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 |
| 13 Adams Ct, Unit 1 | 13 Adams Ct | 4BR,2BA | $2.50 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 29 Savory St | 29 Savory St | 2BR,1BA | $2.17 |
| 20 Locust St | Concept 3 | 2BR,2BA | $2.33 |
| Michaels Landing | 2BED 2BATH (OCT-NOV 2025) | 2BR,2BA | $2.58 |
| 20 High Street Lynn, MA 01902 | 2BR/1.0BA | 2BR,1BA | $2.40 |
| 26 Gregg St, Unit #2 | 26 Gregg St | 2BR,1BA | $2.60 |
| 31 Walter St, Unit 3 | 31 Walter St | 2BR,1BA | $2.64 |
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Best Local Schools in Peabody, MA
School data provided by Great Schools
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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 Mosaic listed at $1,725.
How much is rent for a Cheap One Bedroom Peabody Apartment?
The lowest price for a Cheap One Bedroom Peabody Apartment is $1,850 at Residences at Lafayette LLC- 176 Lafayette.
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 $3,409.
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.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.
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.