40R Highland Ave
SalemMA01970
Cheap Apartments for Rent in the Federal Street Neighborhood of Salem, MA from $600 (45 Rentals)
Search the lowest-cost Apartments available for rent right now in the Federal Street area of Salem.
37 Osborne Hill Dr
SalemMA01970
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$1,550 - $1,700
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilitySalem Heights
12 Pope StSalem, MA 01970
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$1,700
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Sep 1Total Monthly Price
Base Rent
$1,700
Total Monthly Price
$1,700
101 Derby St, Unit 1
101 Derby StSalem, MA 01970
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$1,700 - $2,500
Plus Fees
Studio to 2 Bedroom Apartments Available NowSalem Highlands
84 Highland AveSalem, MA 01970
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$1,700 - $2,200
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,700 - $2,200
Total Monthly Price
$1,700 - $2,200
36 Endicott St
36 Endicott StSalem, MA 01970
40 Winthrop St, Unit Room in a house
40 Winthrop St
SalemMA01970
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$1,900 - $3,155
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowGrove Street Landing
64 Grove StSalem, MA 01970
1 Hazel St
SalemMA01970
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
6 Northey St
SalemMA01970
15 Lynde St, Unit 26
15 Lynde St
SalemMA01970
31 Forrester St
SalemMA01970
257 Washington St, Unit 11
257 Washington St
SalemMA01970
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Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
116 Lafayette St
SalemMA01970
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Studio to 2 Bedroom Apartments
The Residences at St. James
160 Federal StSalem, MA 01970
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Studio to 3 Bedroom Apartments
The Lighthouses
34 Peabody StSalem, MA 01970
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1 Bedroom Apartments
327 Jefferson Ave
327 Jefferson AveSalem, MA 01970
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.
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1 to 3 Bedroom Apartments
143 Canal St
143 Canal StSalem, MA 01970
143 Canal St
SalemMA01970
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1 Bedroom Apartments
Fairfax
176 Lafayette StSalem, MA 01970
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1 to 3 Bedroom Apartments
122 Boston
122 Boston StSalem, MA 01970
233 Lafayette St
SalemMA01970
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1 Bedroom Apartments
Historic 1 Harbor St
1 Harbor StSalem, MA 01970
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1 to 3 Bedroom Apartments
Park Towers
100 Washington StSalem, MA 01970
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1 Bedroom Apartments
278 Lafayette St
278 Lafayette StSalem, MA 01970
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Studio to 2 Bedroom Apartments
University Square North
136 Canal StSalem, MA 01970
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
44 Pingree St
SalemMA01970
253 Washington St
SalemMA01970
10 Beaver St
SalemMA01970
257 Washington St
SalemMA01970
39 Smith St
MarbleheadMA01945
16 Franklin Pl
BeverlyMA01915
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Rent Specials
$1,925 - $2,575
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Contact Us For AvailabilityTerrace Gardens
2 Esquire DrPeabody, MA 01960
16 Broadway
BeverlyMA01915
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$2,000 - $2,995
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowStation 101
101 Rantoul StBeverly, MA 01915
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
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$2,100
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available Sep 1Total Monthly Price
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$2,100
Total Monthly Price
$2,100
13 Lowe St, Unit 2
13 Lowe StPeabody, MA 01960
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Studio Apartments
2 Main Street
2 Main StPeabody, MA 01960
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Studio to 1 Bedroom Apartments
91-93 Cabot St
91-93 Cabot StBeverly, MA 01915
4 Mill St, Unit 9
4 Mill St
PeabodyMA01960
4 Mill St, Unit 5
4 Mill St
PeabodyMA01960
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Studio to 1 Bedroom Apartments
50 Broadway Apartment Homes
50 BroadwayBeverly, MA 01915
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1 to 2 Bedroom Apartments
Jaclen Tower
215-221 Rantoul StBeverly, MA 01915
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Studio to 2 Bedroom Apartments
Peabody Place, LLC.
115 Lowell StPeabody, MA 01960
8 Walbridge St
BostonMA02135
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.
Showing Results 1-45, Page 1 of 1
Federal Street, Salem, MA Local Guide
How much does it cost to rent an apartment in Federal Street?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Federal Street Studio Apartments | $2,105 | $1,100 | $3,843 |
| Federal Street 1 Bedroom Apartments | $2,647 | $1,550 | $4,089 |
| Federal Street 2 Bedroom Apartments | $2,936 | $1,700 | $4,572 |
| Federal Street 3 Bedroom Apartments | $2,866 | $2,500 | $3,450 |
| Federal Street 4 Bedroom Apartments | $3,433 | $2,750 | $4,150 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 45 rentals with your search options within a 2 mile radius of the Federal Street Neighborhood of Salem, MA.
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Federal Street, Salem, MA Local Guide
- Nearby Salem neighborhoods
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Cheapest Available Federal Street Apartments for Rent
The cheapest available apartment rental in the Federal Street area of Boston, MA is a 1 Bed unit found at 91-93 Cabot St priced from $1,250. Salem Highlands has the second lowest priced unit, which is a Studio apartment currently listed from $1,700. Here are the most affordable Federal Street apartments for rent in Boston, MA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 91-93 Cabot St | 1 Beds, 5 Baths | 1BR,5BA | $1,250 |
| Salem Highlands | Studio, non-renovated | Studio,1BA | $1,700 |
| University Square North | 1BR/1.0BA | 1BR,1BA | $1,995 |
| Princeton Crossing | One BR Deluxe | 1BR,1BA | $2,200 |
| Boston/Federal Street | 1BR/1.0BA | 1BR,1BA | $2,250 |
| 14 New Derby | 1BR/1.0BA | 1BR,1BA | $2,295 |
| The Beverly Collection: The Block | Block S1B | Studio | 1 Bath | Studio,1BA | $2,343 |
| The Beverly Collection: Canvas | Canvas S1A | Studio | 1 Bath | Studio,1BA | $2,357 |
Best Value Apartments for Rent in Federal Street, MA
As of August 20, 2026 the best value apartment in the Federal Street area is the $2.00 price per square foot 74 Aborn St Model at 74 Aborn St, Unit 3 in the in the South Salem neighborhood starting from $2,400. The second greatest value Federal Street apartment is the 6 Berry St Model at 6 Berry St, Unit 1 starting at $2,280 with a $1.90 price per square foot in the South Peabody neighborhood. Here is today’s list of the best values for Federal Street apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 74 Aborn St, Unit 3 | 74 Aborn St | 2BR,1BA | $2.00 |
| 6 Berry St, Unit 1 | 6 Berry St | 2BR,1BA | $1.90 |
| 100 Loring Ave, Unit 2 | 100 Loring Ave | 3BR,1BA | $2.73 |
| River Properties | 2 Bed 1 bath 70 Boston Street | 2BR,1BA | $2.81 |
| Station 101 | 2 Bed A | 2BR,2BA | $2.73 |
| 231 Washington Residences | 2 Bedroom 2 Bath - C3 | 2BR,2BA | $2.97 |
| 98 Leach St, Unit 3 | 98 Leach St | 2BR,1BA | $2.40 |
| 29 Park St, Unit 3 bedroom with 2 off street parking spaces | 29 Park St | 3BR,1BA | $2.65 |
| 256 Washington | 2BR/1.0BA | 2BR,1BA | $2.75 |
| Boston/Federal Street | 1BR/1.0BA | 1BR,1BA | $2.95 |
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.
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Real 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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Pet Friendly LifestyleFederal Street, Salem, MA
Ranked #2
Among cities in Massachusetts for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Federal Street Apartments
What is the Cheapest Studio apartment in Federal Street?
Currently the most affordable Cheap Studio Apartment in Federal Street is at Salem Highlands listed at $1,700.
How much is rent for a Cheap One Bedroom Federal Street Apartment?
The lowest price for a Cheap One Bedroom Federal Street Apartment is $1,250 at 91-93 Cabot St.
What is the lowest price for a Cheap Two Bedroom Federal Street Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Federal Street is starting from $2,400 at Salem Highlands.
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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Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.