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$1,450 - $1,600
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilitySalem Heights
12 Pope StSalem, MA 01970
Cheap Apartments for Rent in the Federal Street Neighborhood of Salem, MA from $600 (10 Rentals)
Search the lowest-cost Apartments available for rent right now in the Federal Street area of Salem.
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Rent Specials
$1,610 - $2,070
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowThe Residences at St. James
160 Federal StSalem, MA 01970
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$1,700 - $2,500
Plus Fees
Studio to 2 Bedroom Apartments Contact Us For AvailabilitySalem Highlands
84 Highland AveSalem, MA 01970
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Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
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Studio to 3 Bedroom Apartments
The Lighthouses
34 Peabody 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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1 Bedroom Apartments
327 Jefferson Ave
327 Jefferson AveSalem, MA 01970
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1 to 3 Bedroom Apartments
143 Canal St
143 Canal StSalem, MA 01970
49 Fulton St
PeabodyMA01960
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Studio Apartments
2 Main Street
2 Main StPeabody, MA 01960
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Studio to 2 Bedroom Apartments
Peabody Place, LLC.
115 Lowell StPeabody, MA 01960
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Federal Street, Salem, MA Local Guide
Salem Common by Diego Brito is licensed under CC BY 2.0
How much does it cost to rent an apartment in Federal Street?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Federal Street Studio Apartments | $2,068 | $1,450 | $2,517 |
| Federal Street 1 Bedroom Apartments | $2,472 | $1,450 | $3,995 |
| Federal Street 2 Bedroom Apartments | $2,964 | $1,600 | $4,710 |
| Federal Street 3 Bedroom Apartments | $3,378 | $2,400 | $10,000+ |
| Federal Street 4 Bedroom Apartments | $4,718 | $3,200 | $10,000+ |
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 10 rentals with your search options within a 2 mile radius of the Federal Street Neighborhood of Salem, MA.
See all Apartments in SalemExplore Salem
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 Studio unit found at The Residences at St. James priced from $1,610. 50 Broadway Apartment Homes has the second lowest priced unit, which is a Studio apartment currently listed from $1,780. Here are the most affordable Federal Street apartments for rent in Boston, MA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Residences at St. James | Studio 60% | Studio,1BA | $1,610 |
| 50 Broadway Apartment Homes | Studio A | Studio,1BA | $1,780 |
| Park Towers | 1 Bedroom Apt | 1BR,1BA | $1,900 |
Best Value Apartments for Rent in Federal Street, MA
As of February 19, 2026 the best value apartment in the Federal Street area is the $2.18 price per square foot 127 Canal St Model at 127 Canal St, Unit 3 in the in the South Salem neighborhood starting from $3,700. The second greatest value Federal Street apartment is the The Pingree Townhome Model at Sofi At Salem Station starting at $3,800 with a $2.54 price per square foot in the North Salem 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. |
|---|---|---|---|
| 127 Canal St, Unit 3 | 127 Canal St | 4BR,2BA | $2.18 |
| Sofi At Salem Station | The Pingree Townhome | 2BR,2.5BA | $2.54 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 37 Endicott St, Unit 3 | 37 Endicott St | 2BR,1BA | $1.67 |
| Olde Salem Jail | 2BR/2.0BA | 2BR,2BA | $2.47 |
| River Properties | 2 Bed 1 bath | 2BR,1BA | $2.69 |
| 4 Northend St, Unit 1 | 4 Northend St | 2BR,1BA | $2.40 |
| 83 1/2 Summer St, Unit 2 | 83 1/2 Summer St | 2BR,1BA | $2.67 |
| 2 Devereaux St, Unit 4 | 2 Devereaux St | 1BR,1BA | $2.00 |
| Park Towers | 1 Bedroom Apt | 1BR,1BA | $2.53 |
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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The 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.
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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 The Residences at St. James listed at $1,610.
How much is rent for a Cheap One Bedroom Federal Street Apartment?
The lowest price for a Cheap One Bedroom Federal Street Apartment is $1,725 at The Residences at St. James.
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 $2,395 at University Square North.
What is the most affordable Federal Street Three Bedroom Apartment?
The best deal on a cheap Federal Street Three Bedroom Apartment rental is at Park Towers and starts from $3,500.
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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Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.