376 Washington St
LynnMA01901
Cheap Homes for Rent in Peabody, MA from $900 (27 Rentals)
Search the lowest-cost Homes available for rent right now in Peabody.
161 Exchange St
LynnMA01901
116 Lafayette St
SalemMA01970
299 Nahant Rd
NahantMA01908
close
View Me
close
View Me
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.
close
View Me
close
View Me
close
View Me
102 Margin St
SalemMA01970
close
View Me
223 Essex St
MelroseMA02176
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.
116-124A Central Ave
LynnMA01901
80 Sagamore St
LynnMA01902
303 Broadway
LynnMA01904
8 Joyce St
LynnMA01902
56 Johnson St
LynnMA01902
6 Venice St, Unit C6
6 Venice St
DanversMA01923
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.
6 Venice St
DanversMA01923
close
View Me
297 Nahant Rd
NahantMA01908
close
View Me
close
View Me
9 Andrew St, Unit 16
9 Andrew St
SalemMA01970
Explore Like a Local: The Insider's Guide to Boston
Explore Boston like a local with our guide to neighborhoods, history, and hidden gems. Discover the city's best apartments, from historic brownstones to modern high-rises, and find your perfect Boston home.
1 Mill St Ct, Unit 1
1 Mill St Ct
DanversMA01923
13 Essex St
SalemMA01970
13 Essex St, Unit 1
13 Essex St
SalemMA01970
Showing Results 1-27, 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 a home in Peabody?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Peabody 2 Bedroom Homes for Rent | $2,675 | $1,960 | $3,500 |
| Peabody 3 Bedroom Homes for Rent | $3,454 | $1,800 | $4,800 |
| Peabody 4 Bedroom Homes for Rent | $3,425 | $2,900 | $4,200 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Peabody
Explore Peabody
Peabody, MA Local Guide
- Peabody Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 10/13/2025Current 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 | $2,500 | 2 |
Cheapest Available Peabody Apartments for Rent and Nearby
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 South | 0BR/1.0BA | Studio,1BA | $1,900 |
| University Square North | 0BR/1.0BA | Studio,1BA | $1,900 |
| Princeton Crossing | Dog Friendly One Bedroom Standard | 1BR,1BA | $1,999 |
| Maple Square Apartments | Studio, 1 Bathroom | Studio,1BA | $2,025 |
| Ezio‘s Place | Affordable Unit (income restricted) | 1BR,1BA | $2,050 |
| eaves Peabody | A2 | 1BR,1BA | $2,171 |
| Hawthorne Commons | The McIntire | 1BR,1BA | $2,190 |
Best Value Apartments for Rent in Peabody, MA and Nearby
As of October 13, 2025 the best value apartment in the Peabody area is the $0.35 price per square foot 122 Chestnut St Model at 122 Chestnut St, Unit 002 in the in the East Lynn neighborhood starting from $3,500. 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. |
|---|---|---|---|
| 122 Chestnut St, Unit 002 | 122 Chestnut St | 5BR,2BA | $0.35 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 197 Eutaw Ave, Unit Apt 2 | 197 Eutaw Ave | 3BR,1BA | $2.46 |
| 20 Locust St | Concept 2 | 2BR,2BA | $2.26 |
| 20 High Street Lynn, MA 01902 | 2BR/1.0BA | 2BR,1BA | $2.40 |
| 6 Arthur St, Unit 3 | 6 Arthur St | 2BR,1BA | $2.60 |
| 29 Locust St, Unit 2 | 29 Locust St | 2BR,1BA | $2.40 |
| 52 Roslyn St, Unit 2 | 52 Roslyn St | 2BR,1BA | $2.33 |
| 31 Walter St, Unit 3 | 31 Walter St | 2BR,1BA | $2.57 |
| Ezio‘s Place | Affordable Unit (income restricted) | 1BR,1BA | $2.41 |
Quick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Let everyone know!
Do you know the Peabody area?
If you’re an expert on all things Peabody, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Best Local Schools in Peabody, MA
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Peabody, MA Rentals by Map
See the most popular apartments and homes in Peabody, MA
Frequently Asked Questions about Peabody
What type of rentals are currently available in Peabody?
There are currently 459 Apartments for Rent in Peabody, MA with pricing that ranges from $1,350 to $5,000. There are also 66 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $910 to $4,800.
What is the current price range for Rental Homes in Peabody?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Peabody ranges from $910 to $4,800 with an average monthly rent of $2,596.
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.