116 Lafayette St
SalemMA01970
Cheap Homes for Rent in Peabody, MA from $1,200 (15 Rentals)
Search the lowest-cost Homes available for rent right now in Peabody.
126 Union St
LynnMA01902
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$1,4001 Bedroom Apartments Available Now
10 Howard St, Unit 2
10 Howard StSalem, MA 01970
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$1,4001 Bedroom Apartments Available Now
10 Howard St, Unit 3
10 Howard StSalem, MA 01970
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$1,4001 Bedroom Apartments Available Now
10 Howard St, Unit 1
10 Howard StSalem, MA 01970
Top Short-Term Rental Neighborhoods in Boston: Tips from a Local Expert
Get a local expert's guide to Boston's top 5 short-term rental neighborhoods. Essential tips on Fenway, Beacon Hill, Seaport, and Allston/Brighton.
37 Osborne Hill Dr
SalemMA01970
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$1,6001 Bedroom Apartments Available Now
150 Federal St, Unit FOR RENT UTILITIES WIFI PARKING
150 Federal StSalem, MA 01970
65 Moulton St
LynnMA01905
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$1,7001 Bedroom Apartments Available Now
2 Kingsley Terrace, Unit 9
2 Kingsley TerraceLynn, MA 01902
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$1,8001 Bedroom Apartments Available Now
33-35 Essex Ct, Unit 1
33-35 Essex CtLynn, MA 01902
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
40 Winthrop St, Unit Room in a house
40 Winthrop St
SalemMA01970
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$1,850Studio Apartments Available Now
11 River Dr, Unit B
11 River DrDanvers, MA 01923
73 High Rock St
LynnMA01902
6 Venice St
DanversMA01923
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$2,0001 Bedroom Apartments Available Aug 1
233 Lafayette St, Unit 24
233 Lafayette StSalem, MA 01970
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.
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Peabody, MA Local Guide
How much does it cost to rent a home in Peabody?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Peabody 2 Bedroom Homes for Rent | $2,855 | $1,950 | $4,700 |
| Peabody 3 Bedroom Homes for Rent | $3,175 | $1,600 | $4,750 |
| Peabody 4 Bedroom Homes for Rent | $4,300 | $3,600 | $5,000 |
| Peabody 6 Bedroom Homes for Rent | $20,000 | $10,000 | $10,000+ |
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
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Peabody, MA Local Guide
- Peabody Neighborhoods
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Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 06/06/2026Current 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 | $3,300 | $1,800 | 8 |
Cheapest Available Peabody Apartments for Rent and Nearby
The cheapest available apartment rental in Peabody, MA is a Studio unit found at Salem Highlands in the South Salem neighborhood priced from $1,700. Mosaic in the Central neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,795. Here is today’s list of the most affordable Peabody apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Salem Highlands | Studio, non-renovated | Studio,1BA | $1,700 |
| Mosaic | 1 Beds, 1 Baths | 1BR,1BA | $1,795 |
| River Drive Apartments | S1G | Studio,1BA | $1,800 |
| 20 Locust St | Concept 4 | 1BR,1BA | $2,052 |
| Maple Square Apartments | Studio, 1 Bathroom | Studio,1BA | $2,150 |
Best Value Apartments for Rent in Peabody, MA and Nearby
As of June 06, 2026 the best value apartment in the Peabody area is the $0.78 price per square foot 12 Walter St Model at 12 Walter St, Unit #1 in the in the East Lynn neighborhood starting from $3,275. The second greatest value Peabody apartment is the 84 Endicott St Model at 84 Endicott St, Unit 1-R starting at $3,250 with a $1.81 price per square foot in the South Peabody 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. |
|---|---|---|---|
| 12 Walter St, Unit #1 | 12 Walter St | 3BR,1BA | $0.78 |
| 84 Endicott St, Unit 1-R | 84 Endicott St | 3BR,1BA | $1.81 |
| 36 Conant St, Unit #2 | 36 Conant St | 3BR,3BA | $2.27 |
| 30 Henry Ave, Unit 2 | 30 Henry Ave | 3BR,1BA | $2.07 |
| 13 Becket St, Unit 2 | 13 Becket St | 2BR,1BA | $1.91 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 6 Berry St, Unit 1 | 6 Berry St | 2BR,1BA | $1.98 |
| 63 Ingalls St, Unit APT1 | 63 Ingalls St | 3BR,1BA | $2.29 |
| 454 Chatham St, Unit apt2 | 454 Chatham St | 2BR,1BA | $2.00 |
| 230 Broadway, Unit #2 | 230 Broadway | 2BR,1BA | $2.20 |
Boston Neighborhood Guide: Living Near UMass, MGH, and State Street
Get the local scoop! ApartmentHomeLiving's Boston Expert reveals the best neighborhoods to rent for employees of UMass Boston, Mass General Hospital, State Street, and more.
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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 ArticleTop Neighborhoods Near Boston Colleges and Universities
Learn About the Best Neighborhoods to Rent Near College Campuses in Boston, MA | Find Boston Off-Campus Student Housing at ApartmentHomeLiving.com
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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Peabody, MAPopulation: 53,278
Ranked #736
in US Census Population by City
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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Frequently Asked Questions about Peabody
What type of rentals are currently available in Peabody?
There are currently 525 Apartments for Rent in Peabody, MA with pricing that ranges from $1,100 to $13,746. There are also 79 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $1,250 to $20,000.
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 $1,250 to $20,000 with an average monthly rent of $7,369.
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 $2,600 to $5,050, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,600 to $4,750. Four Bedroom Single-Family rentals are also available starting from $3,600 and Four Bedroom Apartments start at $3,200.
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.
Helpful Local Expert Guides
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.
A Local Experts Guide to the Top Boston Neighborhoods for College Renters
Written by: Amelia Ramstead
Hi! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, Massachusetts! We’re excited to help you find your new home, and getting to know the neighborhood is an important part of that process!
Explore Like a Local: The Insider's Guide to Boston
Written by: Amelia Ramstead
Hello from Boston, Massachusetts! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, and I’m here to give you the inside scoop on this unique city.
Boston Major Employer Neighborhood Guide: Living Near UMass, MGH, & State Street
Written by: Amelia Ramstead
Hi! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, Massachusetts. Getting to know your new neighborhood is one of the best parts of moving, and we’re excited to help you get started.
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Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.