116 Lafayette St
SalemMA01970
Cheap Homes for Rent in Federal Street Neighborhood of Salem, MA from $1,400 (9 Rentals)
Search the lowest-cost Homes available for rent right now in the Federal Street area of Salem.
15 Lynde St
SalemMA01970
40 Winthrop St, Unit 1
40 Winthrop St
SalemMA01970
231 Lafayette St, Unit 4
231 Lafayette St
SalemMA01970
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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$1,900Studio Apartments Available Now
233 Lafayette St
233 Lafayette StSalem, MA 01970
23 Park St
SalemMA01970
23 Park St
SalemMA01970
37 Smith St
MarbleheadMA01945
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.
75 Walnut St
PeabodyMA01960
Showing Results 1-9, Page 1 of 1
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 a home in Federal Street?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Federal Street 2 Bedroom Homes for Rent | $2,934 | $1,950 | $3,900 |
| Federal Street 3 Bedroom Homes for Rent | $3,133 | $3,000 | $3,300 |
| Federal Street 4 Bedroom Homes for Rent | $3,666 | $3,400 | $4,100 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 9 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 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 Federal Street
What type of rentals are currently available in Federal Street?
There are currently 386 Apartments for Rent in Federal Street, MA with pricing that ranges from $1,450 to $11,954. There are also 46 Single Family Homes for rent, Condos, and Townhome rentals currently available in Federal Street ranging from $1,450 to $4,100.
What is the current price range for Rental Homes in Federal Street?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Federal Street ranges from $1,450 to $4,100 with an average monthly rent of $2,723.
How much are larger Three and Four Bedroom Rentals in Federal Street?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Federal Street range from $2,400 to $11,954, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,000 to $3,300. Four Bedroom Single-Family rentals are also available starting from $3,400 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
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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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Hi! I’m Amelia, your ApartmentHomeLiving.com Local Expert for Boston, Massachusetts. Getting to know your new neighborhood is one of the best parts of moving, and we’re excited to help you get started.
Articles, How-To's, and Tips
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
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.