116 Lafayette St
SalemMA01970
Cheap Homes for Rent in Peabody, MA from $1,200 (16 Rentals)
Search the lowest-cost Homes available for rent right now in Peabody.
126 Union St
LynnMA01902
37 Osborne Hill Dr
SalemMA01970
65 Moulton St
LynnMA01905
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$1,700Studio Apartments Available Now
11 River Dr, Unit B
11 River DrDanvers, MA 01923
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.
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$1,7001 Bedroom Apartments Available Now
2 Kingsley Terrace, Unit 9
2 Kingsley TerraceLynn, MA 01902
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$1,700Studio Apartments Available Now
3 River Dr, Unit B
3 River DrDanvers, MA 01923
4 Mill St, Unit 5
4 Mill St
PeabodyMA01960
4 Mill St, Unit 9
4 Mill St
PeabodyMA01960
100 Magnolia Ave
LynnMA01904
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.
73 Baldwin St
LynnMA01902
40 Winthrop St, Unit Room in a house
40 Winthrop St
SalemMA01970
1077-1077 Beacon St
BrooklineMA02446
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$2,0001 Bedroom Apartments Available Aug 1
257 Washington St, Unit 3
257 Washington StSalem, MA 01970
15 Lynde St
SalemMA01970
Close to Boston, Easier to Rent: Your Guide to 5 Key Neighboring Cities
Find your perfect apartment outside Boston. We review Quincy, Braintree, Malden, Somerville, and Lynn, covering local hotspots, commute options, and available rental types.
257 Washington St, Unit 3
257 Washington St
SalemMA01970
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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 | $2,848 | $2,000 | $3,800 |
| Peabody 3 Bedroom Homes for Rent | $3,311 | $1,600 | $4,400 |
| Peabody 4 Bedroom Homes for Rent | $3,325 | $3,000 | $3,650 |
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
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Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 07/22/2026Current 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 | $3,100 | $1,500 | 12 |
Cheapest Available Peabody Apartments for Rent
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. Salem Highlands in the South Salem neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,700. 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 |
| Salem Highlands | Studio, non-renovated | Studio,1BA | $1,700 |
| Mosaic | Studio 1 | 1BR,1BA | $1,795 |
| 278 Lafayette St | 1 Beds, 1 Baths | 1BR,1BA | $1,900 |
| 7 Berry St | 2 bedroom | 1BR,1BA | $1,900 |
Best Value Apartments for Rent in Peabody, MA
As of July 22, 2026 the best value apartment in the Peabody area is the $1.91 price per square foot 13 Becket St Model at 13 Becket St, Unit 2 in the in the South Salem neighborhood starting from $2,675. The second greatest value Peabody apartment is the 13 Becket St Model at 13 Becket St, Unit 2 starting at $2,675 with a $1.91 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. |
|---|---|---|---|
| 13 Becket St, Unit 2 | 13 Becket St | 2BR,1BA | $1.91 |
| 13 Becket St, Unit 2 | 13 Becket St | 2BR,1BA | $1.91 |
| 63 Ingalls St, Unit APT1 | 63 Ingalls St | 3BR,1BA | $2.29 |
| Michaels Landing | FIRST FLOOR CORNER | 2BR,2BA | $2.42 |
| 20 Locust St | Concept 2 | 2BR,2BA | $2.26 |
| 8 Arthur St, Unit 1 | 8 Arthur St | 3BR,1BA | $2.19 |
| 454 Chatham St, Unit apt2 | 454 Chatham St | 2BR,1BA | $2.00 |
| 36 Beaver St, Unit Beaver St | 36 Beaver St | 2BR,1BA | $2.38 |
| 7 Berry St | 2 bedroom | 1BR,1BA | $1.90 |
| 31 Walter St | 31 Walter St | 2BR,1BA | $2.50 |
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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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 528 Apartments for Rent in Peabody, MA with pricing that ranges from $1,100 to $4,800. There are also 75 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $1,400 to $11,900.
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 $1,400 to $11,900 with an average monthly rent of $4,213.
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 $4,178, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,600 to $4,400. Four Bedroom Single-Family rentals are also available starting from $3,000 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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What It Really Costs to Live in Boston: A Local Renter's Guide
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Hello! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston.
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Hi! I’m Amelia, your ApartmentHomeLiving.com expert for Boston, and I’m excited to help you find your next home!
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