37 Osborne Hill Dr
SalemMA01970
Cheap Homes for Rent in Peabody, MA from $1,400 (17 Rentals)
Search the lowest-cost Homes available for rent right now in Peabody.
5 Union St
LynnMA01902
5 Union St
LynnMA01902
233 Lafayette St
SalemMA01970
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.
8 Joyce St
LynnMA01902
29 Ocean Ave
SalemMA01970
278 Lafayette St
SalemMA01970
23 Nelson Ave
ReadingMA01867
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.
13 River Dr
DanversMA01923
23 Park St
SalemMA01970
233 Lafayette St
SalemMA01970
23 Park St
SalemMA01970
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
257 Washington St
SalemMA01970
10 River Dr
DanversMA01923
120 Washington St
SalemMA01970
116-128 Rantoul St
BeverlyMA01915
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
16 Lemon St
SalemMA01970
Showing Results 1-17, 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 Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peabody 2 Bedroom Homes for Rent | $3,219 | $2,200 | $4,800 |
| Peabody 3 Bedroom Homes for Rent | $3,642 | $2,600 | $5,500 |
| Peabody 4 Bedroom Homes for Rent | $3,400 | $3,200 | $3,600 |
| Peabody 5 Bedroom Homes for Rent | $3,750 | $3,750 | $3,750 |
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: 05/14/2025Current 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 | $1,610 | 21 |
Cheapest Available Peabody Apartments for Rent and Nearby
The cheapest available apartment rental in Peabody, MA is a Studio unit found at THE ESSEX in the Central neighborhood priced from $1,595. 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 |
|---|---|---|---|
| THE ESSEX | 0BR/1.0BA | Studio,1BA | $1,595 |
| Residences at Lafayette LLC- 176 Lafayette | 1BR/1.0BA | 1BR,1BA | $1,850 |
| River Drive Apartments | A1G | 1BR,1BA | $2,100 |
| Princeton Crossing | One BR Deluxe | 1BR,1BA | $2,170 |
| Holmes Beverly | Studio | Studio,1BA | $2,200 |
Best Value Apartments for Rent in Peabody, MA and Nearby
As of May 14, 2025 the best value apartment in the Peabody area is the $0.25 price per square foot 6 Lemon St Model at 6 Lemon St, Unit 2 in the in the North Salem neighborhood starting from $2,500. The second greatest value Peabody apartment is the 85 Timson St Model at 85 Timson St, Unit #1 starting at $2,400 with a $0.24 price per square foot in the East Lynn 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. |
|---|---|---|---|
| 6 Lemon St, Unit 2 | 6 Lemon St | 2BR,1BA | $0.25 |
| 85 Timson St, Unit #1 | 85 Timson St | 2BR,1BA | $0.24 |
| THE ESSEX | 0BR/1.0BA | Studio ,1BA | $0.16 |
| 150 Allen Ave, Unit 1 | 150 Allen Ave | 3BR,3BA | $1.87 |
| 35 Pacific St, Unit #2 | 35 Pacific St | 2BR,1BA | $1.73 |
| 132 North St, Unit #2 | 132 North St | 2BR,2BA | $1.86 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 73 School St, Unit #3 | 73 School St | 2BR,1BA | $2.00 |
| 36 Upham St, Unit #1 | 36 Upham St | 1BR,1BA | $2.30 |
| 26 Northend St, Unit #2 | 26 Northend St | 2BR,1BA | $2.40 |
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Frequently Asked Questions about Peabody
What type of rentals are currently available in Peabody?
There are currently 516 Apartments for Rent in Peabody, MA with pricing that ranges from $1,050 to $10,708. There are also 51 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $1,499 to $5,500.
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 $1,499 to $5,500 with an average monthly rent of $3,202.
How much are larger Three and Four Bedroom Rentals in Peabody?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Peabody range from $2,400 to $4,635, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,600 to $5,500. Four Bedroom Single-Family rentals are also available starting from $3,200 and Four Bedroom Apartments start at $2,800.
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.
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.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.