116 Lafayette St
SalemMA01970
Cheap Homes for Rent in Federal Street Neighborhood of Salem, MA from $1,200 (11 Rentals)
Search the lowest-cost Homes available for rent right now in the Federal Street area of Salem.
37 Osborne Hill Dr
SalemMA01970
39 Smith St
MarbleheadMA01945
4 Mill St, Unit 9
4 Mill St
PeabodyMA01960
4 Mill St, Unit 5
4 Mill St
PeabodyMA01960
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.
40 Winthrop St, Unit Room in a house
40 Winthrop St
SalemMA01970
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$2,0001 Bedroom Apartments Available Aug 1
233 Lafayette St, Unit 24
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
15 Lynde St
SalemMA01970
8 Walbridge St
BostonMA02135
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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$2,1001 Bedroom Apartments Available Jul 15
257 Washington St, Unit 3
257 Washington StSalem, MA 01970
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Federal Street, Salem, MA Local Guide
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 | $2,775 | $2,000 | $3,400 |
| Federal Street 3 Bedroom Homes for Rent | $3,563 | $2,650 | $4,750 |
| Federal Street 4 Bedroom Homes for Rent | $3,375 | $3,000 | $3,750 |
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 11 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 91-93 Cabot St priced from $1,150. 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 | 0 Beds, 1 Baths | Studio,1BA | $1,150 |
| Salem Highlands | Studio, non-renovated | Studio,1BA | $1,700 |
| 278 Lafayette St | 1 Beds, 1 Baths | 1BR,1BA | $1,900 |
| University Square North | 1BR/1.0BA | 1BR,1BA | $2,175 |
| Lore | ST1 | Studio,1BA | $2,299 |
Best Value Apartments for Rent in Federal Street, MA
As of July 06, 2026 the best value apartment in the Federal Street area is the $1.78 price per square foot 84 Endicott St Model at 84 Endicott St, Unit 1-R in the in the South Peabody neighborhood starting from $3,200. The second greatest value Federal Street apartment is the 23 Gardner St Model at 23 Gardner St starting at $2,600 with a $1.86 price per square foot in the South 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. |
|---|---|---|---|
| 84 Endicott St, Unit 1-R | 84 Endicott St | 3BR,1BA | $1.78 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 6 Berry St, Unit 1 | 6 Berry St | 2BR,1BA | $1.94 |
| 6 Cushing St, Unit 2nd floor | 6 Cushing St | 2BR,1BA | $2.17 |
| River Properties | Top Floor: 2 bed 2 bath: 28 Goodhue | 2BR,2BA | $2.75 |
| 9 Central St, Unit 9C-1 | 9 Central St | 2BR,1BA | $2.09 |
| Station 101 | 2 Bed A | 2BR,2BA | $2.68 |
| University Square South | 2BR/2.0BA | 2BR,2BA | $2.71 |
| 231 Washington Residences | 2 Bedroom 1 Bath - B3 | 2BR,1BA | $2.97 |
| 62 Mason St, Unit 2R | 62 Mason St | 1BR,1BA | $2.96 |
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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How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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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 379 Apartments for Rent in Federal Street, MA with pricing that ranges from $750 to $18,473. There are also 51 Single Family Homes for rent, Condos, and Townhome rentals currently available in Federal Street ranging from $1,250 to $4,750.
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 $1,250 to $4,750 with an average monthly rent of $2,716.
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 $750 to $4,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,650 to $4,750. 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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Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.