Cheap Apartments for Rent in the Downtown Peabody Neighborhood of Peabody, MA from $1,000 (4 Rentals)

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2 Main Street
Studio Apartments

2 Main Street

2 Main StPeabody, MA 01960

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

Downtown Peabody, Peabody, MA Local Guide

Cheapest Neighborhoods for Apartments in Downtown Peabody, MA

Pricing Updated: 03/21/2025

Current apartment rentals in the Downtown 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 Downtown Peabody Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units

Best Value Apartments for Rent in Downtown Peabody, MA

As of March 21, 2025 the best value apartment in the Downtown Peabody area is the $2.08 price per square foot 8 Elm St Model at 8 Elm St, Unit #1 in the in the South Peabody neighborhood starting from $2,500. The second greatest value Downtown Peabody apartment is the 314 River Rock Model at River Properties starting at $2,900 with a $2.79 price per square foot in the South Salem neighborhood. Here is today’s list of the best values for Downtown Peabody apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
8 Elm St, Unit #18 Elm St2BR,1BA$2.08
River Properties314 River Rock2BR,1BA$2.79
109 Foster St, Unit #220109 Foster St2BR,1BA$2.78
114 Foster St, Unit #1114 Foster St2BR,1BA$2.78
15 Lowe St, Unit 115 Lowe St2BR,1BA$2.59
Grove Street Landing1B2BR,2BA$3.39
Peabody Place, LLC.1BR/1.0BA1BR,1BA$3.45

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Pet Friendly Lifestyle
Downtown Peabody, Peabody, MA

Ranked #4

Among neighborhoods in Peabody, MA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Getting Around the Downtown Peabody Neighborhood in Peabody, MA

Walk Score®

90 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

53 / 100

Bikeable

Some bike infrastructure

Frequently Asked Questions about Cheap Downtown Peabody Apartments

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Peabody is starting from $2,750 at Grove Street Landing.

What is the most affordable Downtown Peabody Three Bedroom Apartment?

The best deal on a cheap Downtown Peabody Three Bedroom Apartment rental is at and starts from $3,300.

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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