116 Lafayette St
SalemMA01970
Cheap Homes for Rent in Peabody, MA from $1,250 (17 Rentals)
Search the lowest-cost Homes available for rent right now in Peabody.
3 Isabella St
LynnMA01902
4 Mill St, Unit 5
4 Mill St
PeabodyMA01960
4 Mill St, Unit 5
4 Mill St
PeabodyMA01960
25 Roslyn St
SalemMA01970
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$1,8501 Bedroom Apartments Available Now
260 Washington St, Unit 22
260 Washington StSalem, MA 01970
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$1,9001 Bedroom Apartments Available Oct 1
233 Lafayette St, Unit 25
233 Lafayette StSalem, MA 01970
81 Franklin St
LynnMA01902
102 Bridge St
SalemMA01970
72 Lowell St
PeabodyMA01960
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2 Ledgewood Way
PeabodyMA01960
5 Cliff St, Unit #5
5 Cliff St
BeverlyMA01915
8 Walbridge St
BostonMA02135
10 Beaver St
SalemMA01970
134 Fayette St, Unit #2
134 Fayette St
LynnMA01902
What It Really Costs to Live in Boston: A Local Renter’s Guide
Thinking of moving to Boston? Discover the real cost of living in the city. Our local expert guide breaks down rent, hidden utility costs, transportation tips, and neighborhood tradeoffs to help you budget smarter.
35 Collins St, Unit 92
35 Collins St
DanversMA01923
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$2,2002 Bedroom Apartments Available Now
33-35 Essex Ct, Unit 2
33-35 Essex CtLynn, MA 01902
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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 | $2,778 | $1,700 | $3,800 |
| Peabody 3 Bedroom Homes for Rent | $3,212 | $1,550 | $4,500 |
| Peabody 4 Bedroom Homes for Rent | $4,150 | $3,650 | $4,950 |
| Peabody 5 Bedroom Homes for Rent | $4,500 | $4,500 | $4,500 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Peabody, MA Local Guide
- Peabody Neighborhoods
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Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 09/05/2026Current apartment rentals in the Peabody, MA area range in price from $1,600 to $3,500 with an overall median price of $2,400. 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 | $2,400 | $1,600 | 7 |
Cheapest Available Peabody Apartments for Rent
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 Studio apartment currently listed from $1,725. 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 | Studios | Studio,1BA | $1,725 |
| 10 Summer Street | 0BR/1.0BA | Studio,1BA | $1,800 |
| 256 Washington | 1BR/1.0BA | 1BR,1BA | $1,850 |
| University Square North | 1BR/1.0BA | 1BR,1BA | $1,895 |
Best Value Apartments for Rent in Peabody, MA
As of September 05, 2026 the best value apartment in the Peabody area is the $0.23 price per square foot 2BR/1.0BA Model at Chestnut Street in the in the East Lynn neighborhood starting from $2,250. The second greatest value Peabody apartment is the Three Bedroom Model at 23 Prince Street Apartments starting at $3,750 with a $1.88 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. |
|---|---|---|---|
| Chestnut Street | 2BR/1.0BA | 2BR,1BA | $0.23 |
| 23 Prince Street Apartments | Three Bedroom | 3BR,1.5BA | $1.88 |
| 39 Salem St, Unit 1 | 39 Salem St | 3BR,1BA | $2.20 |
| 74 Aborn St, Unit 3 | 74 Aborn St | 2BR,1BA | $1.92 |
| 29 Savory St | 29 Savory St | 2BR,1BA | $2.17 |
| 6 Berry St, Unit 1 | 6 Berry St | 2BR,1BA | $1.92 |
| 65 Eutaw Ave, Unit 65 Eutaw Ave, Lynn 1st floor | 65 Eutaw Ave | 2BR,1BA | $2.17 |
| 20 Locust St | Concept 2 | 2BR,2BA | $2.26 |
| 15 Hancock St, Unit 3 | 15 Hancock St | 1BR,1BA | $2.00 |
| 7 Berry St | 1 Bedroom - 1st Floor | 1BR,1BA | $1.90 |
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 ArticleNavigating the Rental Market: Tips for First-Time Renters
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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 533 Apartments for Rent in Peabody, MA with pricing that ranges from $1,100 to $4,415. There are also 95 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $1,550 to $4,950.
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 $1,550 to $4,950 with an average monthly rent of $2,892.
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 $2,500 to $4,415, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,550 to $4,500. Four Bedroom Single-Family rentals are also available starting from $3,650 and Four Bedroom Apartments start at $2,800.
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.
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