close
View Me
Cheap Apartments for Rent in Peabody, MA from $900 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in Peabody.
close
View Me
Rent Specials
from $1,8001 to 2 Bedroom Apartments Contact Us For Availability
Terrace Gardens
2 Esquire DrPeabody, MA 01960
close
View Me
40R Highland Ave
SalemMA01970
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
close
View Me
from $1,3501 to 2 Bedroom Apartments Contact Us For Availability
Salem Heights
12 Pope StSalem, MA 01970
close
View Me
close
View Me
close
View Me
from $1,610Studio to 2 Bedroom Apartments Available Oct 15
The Residences at St. James
160 Bridge StSalem, MA 01970
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
close
View Me
from $1,700Studio to 2 Bedroom Apartments Contact Us For Availability
Salem Highlands
84 Highland AveSalem, MA 01970
160 Federal St
SalemMA01970
585 Essex St
LynnMA01901
close
View Me
Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
close
View Me
close
View Me
close
View Me
close
View Me
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
close
View Me
Showing Results 1-17, 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 | $1,888 | $1,050 | $3,040 |
| Cheap Peabody 1 Bedroom Apartments | $2,805 | $1,350 | $10,000+ |
| Cheap Peabody 2 Bedroom Apartments | $3,260 | $1,500 | $10,000+ |
| Cheap Peabody 3 Bedroom Apartments | $3,581 | $2,400 | $5,060 |
| Cheap Peabody 4 Bedroom Apartments | $3,375 | $2,800 | $3,950 |
Browse Top Apartments in Peabody
See all Apartments in PeabodyExplore Peabody
Peabody, MA Local Guide
- Peabody Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Peabody, MA
Pricing Updated: 05/18/2025Current 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 | $3,500 | $2,300 | 4 |
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 $1,595. Residences at Lafayette LLC- 176 Lafayette in the South Salem neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,850. 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 | $1,595 |
| Residences at Lafayette LLC- 176 Lafayette | 1BR/1.0BA | 1BR,1BA | $1,850 |
| Maple Square Apartments | Studio, 1 Bathroom | Studio,1BA | $2,025 |
| River Drive Apartments | A1G | 1BR,1BA | $2,100 |
| Princeton Crossing | One BR Deluxe | 1BR,1BA | $2,190 |
Best Value Apartments for Rent in Peabody, MA
As of May 18, 2025 the best value apartment in the Peabody area is the $0.16 price per square foot 0BR/1.0BA Model at THE ESSEX in the in the Central neighborhood starting from $1,595. The second greatest value Peabody apartment is the 6 Lemon St Model at 6 Lemon St, Unit 2 starting at $2,500 with a $0.25 price per square foot in the North Salem 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 | 0BR/1.0BA | Studio ,1BA | $0.16 |
| 6 Lemon St, Unit 2 | 6 Lemon St | 2BR,1BA | $0.25 |
| 85 Timson St, Unit #1 | 85 Timson St | 2BR,1BA | $0.24 |
| 150 Allen Ave, Unit 1 | 150 Allen Ave | 3BR,3BA | $1.87 |
| 35 Pacific St, Unit #2 | 35 Pacific St | 2BR,1BA | $1.73 |
| 132 North St, Unit #2 | 132 North St | 2BR,2BA | $1.86 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| 73 School St, Unit #3 | 73 School St | 2BR,1BA | $2.00 |
| 26 Northend St, Unit #2 | 26 Northend St | 2BR,1BA | $2.40 |
| 9 Bowditch St, Unit #2 | 9 Bowditch St | 2BR,1BA | $2.40 |
Quick Rent Budget Calculator
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.
Let everyone know!
Do you know the Peabody area?
If you’re an expert on all things Peabody, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Best Local Schools in Peabody, MA
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Peabody, MA Rentals by Map
See the most popular apartments and homes in Peabody, MA
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 $1,595.
How much is rent for a Cheap One Bedroom Peabody Apartment?
The lowest price for a Cheap One Bedroom Peabody Apartment is $1,850 at Residences at Lafayette LLC- 176 Lafayette.
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 $2,350 at Michaels Landing.
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 $3,557.
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.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.