Cheap Apartments for Rent in Peabody, MA from $900 (14 Rentals)

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2 Main Street
Studio Apartments

2 Main Street

2 Main StPeabody, MA 01960
property at 585 Essex St

585 Essex St

LynnMA01901
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Cobbet Hill
1 Bedroom Apartments

Cobbet Hill

498 Essex StLynn, MA 01902

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

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143 Canal St
2 Bedroom Apartments

143 Canal St

143 Canal StSalem, MA 01970
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Floating Bridge Pond
2 Bedroom Apartments

Floating Bridge Pond

627-631 Eastern AveLynn, MA 01902
  • Utilities Included
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University Square
Studio to 2 Bedroom Apartments

University Square

136 Canal StSalem, MA 01970
  • Utilities Included

Peabody, MA Local Guide

Cheapest Neighborhoods for Apartments in Peabody, MA

Pricing Updated: 03/21/2025

Current 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:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Peabody$3,300$1,725243

Cheapest Available Peabody Apartments for Rent

 

The cheapest available apartment rental in Peabody, MA is a Studio unit found at THE ESSEX in the Central neighborhood priced from $1,550. Peabody Place, LLC. in the South Peabody neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,899. Here is today’s list of the most affordable Peabody apartments for rent:

Apartment ListingModel NameBed/BathPriced From
THE ESSEX0BR/1.0BAStudio,1BA$1,550
Peabody Place, LLC.1BR/1.0BA1BR,1BA$1,899
1 Harbor1BR/1.0BA1BR,1BA$2,000
Ezio‘s PlaceAffordable Unit (income restricted)1BR,1BA$2,050
River Drive ApartmentsA1G1BR,1BA$2,150

Best Value Apartments for Rent in Peabody, MA

As of March 21, 2025 the best value apartment in the Peabody area is the $0.22 price per square foot 2BR/1.0BA Model at THE ESSEX in the in the Central neighborhood starting from $2,225. The second greatest value Peabody apartment is the 150 Allen Ave Model at 150 Allen Ave, Unit 1 starting at $2,900 with a $1.87 price per square foot in the Central neighborhood. Here is today’s list of the best values for Peabody apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
THE ESSEX2BR/1.0BA2BR,1BA$0.22
150 Allen Ave, Unit 1150 Allen Ave3BR,3BA$1.87
7 Hancock St, Unit 17 Hancock St3BR,1BA$2.07
23 Gardner St23 Gardner St2BR,1BA$1.86
34 Locust St, Unit #234 Locust St2BR,1BA$1.86
Essex Apartment HomesSylvan2BR,2BA$2.47
Sofi DanversTwo Bedroom Two Bath 32BR,2BA$2.48
Michaels LandingAffordable Waitlist (income restricted)2BR,2BA$2.04
69 Lake View Ave, Unit 169 Lake View Ave2BR,1BA$2.55
9 Carlton St, Unit #39 Carlton St2BR,1BA$2.20

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Getting Around Peabody, MA

Walk Score®

62 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

42 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

Frequently Asked Questions about Cheap Peabody Apartments

What is the Cheapest Studio apartment in Peabody?

Currently the most affordable Cheap Studio Apartment in Peabody is at THE ESSEX listed at $1,550.

How much is rent for a Cheap One Bedroom Peabody Apartment?

The lowest price for a Cheap One Bedroom Peabody Apartment is $1,795 at THE ESSEX.

What is the lowest price for a Cheap Two Bedroom Peabody Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Peabody is starting from $2,225 at THE ESSEX.

What is the most affordable Peabody Three Bedroom Apartment?

The best deal on a cheap Peabody Three Bedroom Apartment rental is at 14 North and starts from $3,743.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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