4 Mill St, Unit 5
4 Mill St
PeabodyMA01960
Cheap Homes for Rent in the Downtown Peabody Neighborhood of Peabody, MA from $1,700 (4 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Peabody area of Peabody.
72 Lowell St
PeabodyMA01960
Boston's Best Affordable Neighborhoods
Learn about Boston and the best places to live around the area with original content written by our Boston, MA Local Expert Amelia Ramstead
7 Spring St Ct
PeabodyMA01960
10 Beaver St
SalemMA01970
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
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Downtown Peabody, Peabody, MA Local Guide
How much does it cost to rent a home in Downtown Peabody?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Downtown Peabody 2 Bedroom Homes for Rent | $2,431 | $1,700 | $3,500 |
| Downtown Peabody 4 Bedroom Homes for Rent | $4,100 | $4,100 | $4,100 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Downtown Peabody Neighborhood of Peabody, MA.
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Downtown Peabody, Peabody, MA Local Guide
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Best Value Apartments for Rent in Downtown Peabody, MA
As of September 13, 2026 the best value apartment in the Downtown Peabody area is the $3.15 price per square foot 1 James St Model at 1 James St, Unit 2 in the in the South Peabody neighborhood starting from $4,100. The second greatest value Downtown Peabody apartment is the 74 Aborn St Model at 74 Aborn St, Unit Unit 3 starting at $2,300 with a $1.92 price per square foot in the South Salem neighborhood. Here is today’s list of the best values for Downtown Peabody apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1 James St, Unit 2 | 1 James St | 4BR,2BA | $3.15 |
| 74 Aborn St, Unit Unit 3 | 74 Aborn St | 2BR,1BA | $1.92 |
| 6 Berry St, Unit 1 | 6 Berry St | 2BR,1BA | $1.92 |
| Rosenfelt Building, LLC. | 2BR/1.0BA | 2BR,1BA | $3.29 |
| Grove Street Landing | 1E-A | 1BR,1BA | $3.93 |
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 Article
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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Pet Friendly LifestyleDowntown Peabody, Peabody, MA
Ranked #5
Among cities in Massachusetts for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Downtown Peabody
What type of rentals are currently available in Downtown Peabody?
There are currently 73 Apartments for Rent in Downtown Peabody, MA with pricing that ranges from $1,850 to $4,100. There are also 11 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Peabody ranging from $1,700 to $4,100.
What is the current price range for Rental Homes in Downtown Peabody?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Peabody ranges from $1,700 to $4,100 with an average monthly rent of $2,669.
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.
Articles, How-To's, and Tips
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.