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Cheap Apartments for Rent in Peabody, MA from $900 (14 Rentals)
Search the lowest-cost Apartments available for rent right now in Peabody.
40R Highland Ave
SalemMA01970
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from $1,3501 to 2 Bedroom Apartments Contact Us For Availability
Salem Heights
12 Pope StSalem, MA 01970
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Rent Specials
from $1,550Studio to 2 Bedroom Apartments Available Now
THE ESSEX
585 Essex StLynn, MA 01901
585 Essex St
LynnMA01901
9 Cox Ct
BeverlyMA01915
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from $1,700Studio to 2 Bedroom Apartments Contact Us For Availability
Salem 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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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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Showing Results 1-14, Page 1 of 1
Peabody, MA Local Guide
Peabody Town Center by massmatt is licensed under CC BY 2.0
How much does it cost to rent an apartment in Peabody?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Peabody Studio Apartments | $1,824 | $1,100 | $2,700 |
| Cheap Peabody 1 Bedroom Apartments | $2,759 | $1,350 | $10,000+ |
| Cheap Peabody 2 Bedroom Apartments | $3,328 | $1,500 | $10,000+ |
| Cheap Peabody 3 Bedroom Apartments | $3,468 | $2,550 | $5,420 |
| Cheap Peabody 4 Bedroom Apartments | $3,500 | $3,500 | $3,500 |
Browse Top Apartments in Peabody
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Peabody, MA Local Guide
- Peabody Neighborhoods
- Nearby Cities
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- Local Counties
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Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 03/21/2025Current 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Downtown Peabody | $3,300 | $1,725 | 243 |
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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| THE ESSEX | 0BR/1.0BA | Studio,1BA | $1,550 |
| Peabody Place, LLC. | 1BR/1.0BA | 1BR,1BA | $1,899 |
| 1 Harbor | 1BR/1.0BA | 1BR,1BA | $2,000 |
| Ezio‘s Place | Affordable Unit (income restricted) | 1BR,1BA | $2,050 |
| River Drive Apartments | A1G | 1BR,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| THE ESSEX | 2BR/1.0BA | 2BR,1BA | $0.22 |
| 150 Allen Ave, Unit 1 | 150 Allen Ave | 3BR,3BA | $1.87 |
| 7 Hancock St, Unit 1 | 7 Hancock St | 3BR,1BA | $2.07 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 34 Locust St, Unit #2 | 34 Locust St | 2BR,1BA | $1.86 |
| Essex Apartment Homes | Sylvan | 2BR,2BA | $2.47 |
| Sofi Danvers | Two Bedroom Two Bath 3 | 2BR,2BA | $2.48 |
| Michaels Landing | Affordable Waitlist (income restricted) | 2BR,2BA | $2.04 |
| 69 Lake View Ave, Unit 1 | 69 Lake View Ave | 2BR,1BA | $2.55 |
| 9 Carlton St, Unit #3 | 9 Carlton St | 2BR,1BA | $2.20 |
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Best Local Schools in Peabody, MA
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Peabody, MA Apartments MapPeabody, MA Rental Homes MapGetting 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
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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.
The 10 Best Affordable Neighborhoods in Boston, MA
Written by: Amelia Ramstead
Boston is known for its exciting combination of early American history and modern high-tech universities and employers.
Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.
What to Know About Fees and Fines When Renting
Written by: Trey Huguley
When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.
Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.