65 Moulton St
LynnMA01905
Cheap Homes for Rent in Peabody, MA from $1,400 (23 Rentals)
Search the lowest-cost Homes available for rent right now in Peabody.
55 N Belgian Rd
DanversMA01923
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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 Unit 1
33-35 Essex CtLynn, MA 01902
15 Lynde St
SalemMA01970
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$1,900Studio Apartments Available Sep 1
233 Lafayette St, Unit 4
233 Lafayette StSalem, MA 01970
231 Lafayette St
SalemMA01970
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.
52 County St
PeabodyMA01960
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$1,9501 Bedroom Apartments Available Now
25 Hamilton Ave, Unit 3
25 Hamilton AveLynn, MA 01902
14 Roy St
SwampscottMA01907
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$2,0001 Bedroom Apartments Available Jul 1
233 Lafayette St, Unit 26
233 Lafayette StSalem, MA 01970
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$2,000Studio Apartments Available Aug 1
233 Lafayette St, Unit 22
233 Lafayette StSalem, MA 01970
6 Venice St
DanversMA01923
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$2,0501 Bedroom Apartments Available Now
10 River Dr, Unit B
10 River DrDanvers, MA 01923
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.
134 Boston St, Unit 1F, Unit 1F
134 Boston St
SalemMA01970
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$2,3001 Bedroom Apartments Available May 1
17 Pickman St, Unit 5
17 Pickman StSalem, MA 01970
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$2,3001 Bedroom Apartments Available Aug 1
233 Lafayette St, Unit 16
233 Lafayette StSalem, MA 01970
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$2,3001 Bedroom Apartments Available Jun 1
233 Lafayette St, Unit 9
233 Lafayette StSalem, MA 01970
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$2,3001 Bedroom Apartments Available Jul 1
233 Lafayette St, Unit 6
233 Lafayette StSalem, MA 01970
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$2,3501 Bedroom Apartments Available Now
13 River Dr, Unit A
13 River DrDanvers, MA 01923
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$2,3823 Bedroom Apartments Available Now
52 Washington St
52 Washington StPeabody, MA 01960
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.
83R Hobart St
DanversMA01923
406 Broadway
LynnMA01904
Showing Results 1-23, Page 1 of 1
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 | $2,930 | $2,400 | $4,200 |
| Peabody 3 Bedroom Homes for Rent | $3,748 | $1,400 | $8,000 |
| Peabody 4 Bedroom Homes for Rent | $4,161 | $3,600 | $5,000 |
| Peabody 6 Bedroom Homes for Rent | $14,500 | $6,500 | $10,000+ |
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: 04/22/2026Current 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 | $3,700 | $2,000 | 8 |
Cheapest Available Peabody Apartments for Rent
The cheapest available apartment rental in Peabody, MA is a Studio unit found at The Residences at St. James in the South Salem neighborhood priced from $1,400. 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 |
|---|---|---|---|
| The Residences at St. James | Studio 60% | Studio,1BA | $1,400 |
| Salem Highlands | Studio, non-renovated | Studio,1BA | $1,700 |
| Mosaic | 0 Beds, 1 Baths | Studio,1BA | $1,795 |
| River Drive Apartments | S1G | Studio,1BA | $1,850 |
| 260 Washington Apartments – Modern Living in the Heart of Salem | 1BR/1.0BA | 1BR,1BA | $1,900 |
Best Value Apartments for Rent in Peabody, MA
As of April 22, 2026 the best value apartment in the Peabody area is the $1.88 price per square foot Three Bedroom Model at 23 Prince Street Apartments in the in the Choate Farm neighborhood starting from $3,750. The second greatest value Peabody apartment is the 84 Endicott St Model at 84 Endicott St, Unit 1-R starting at $3,500 with a $1.94 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. |
|---|---|---|---|
| 23 Prince Street Apartments | Three Bedroom | 3BR,1.5BA | $1.88 |
| 84 Endicott St, Unit 1-R | 84 Endicott St | 3BR,1BA | $1.94 |
| 127 Canal St, Unit 3 | 127 Canal St | 4BR,2BA | $2.12 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 13 Becket St, Unit 2 | 13 Becket St | 2BR,1BA | $1.91 |
| 30 Henry Ave, Unit 3 | 30 Henry Ave | 3BR,1BA | $2.07 |
| 14 North | Bamboo Gardens Loft (B2EL) | 2BR,2BA | $2.26 |
| 15 Hazel St, Unit 1 | 15 Hazel St | 3BR,1BA | $2.23 |
| 6 Berry St, Unit 1 | 6 Berry St | 2BR,1BA | $2.00 |
| 20 Locust St | Concept 2 | 2BR,2BA | $2.26 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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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.
Read ArticleDon'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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
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 ArticleQuick Rent Budget Calculator
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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 524 Apartments for Rent in Peabody, MA with pricing that ranges from $1,100 to $13,730. There are also 88 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peabody ranging from $1,400 to $22,500.
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 $1,400 to $22,500 with an average monthly rent of $5,909.
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 $2,382 to $4,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,400 to $8,000. 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
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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
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Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
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This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
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