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Terrace Gardens
2 Esquire DrPeabody, MA 01960
Cheap Apartments for Rent in the Downtown Peabody Neighborhood of Peabody, MA from $1,000 (4 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Peabody area of Peabody.
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from $1,920Studio to 2 Bedroom Apartments Available Now
Grove Street Landing
64 Grove StSalem, MA 01970
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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Downtown Peabody, 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 Downtown Peabody?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Peabody Studio Apartments | $1,920 | $1,920 | $1,920 |
| Downtown Peabody 1 Bedroom Apartments | $2,043 | $1,725 | $2,500 |
| Downtown Peabody 2 Bedroom Apartments | $2,758 | $2,150 | $3,705 |
| Downtown Peabody 3 Bedroom Apartments | $3,300 | $3,300 | $3,300 |
Browse Apartments in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Downtown Peabody Neighborhood of Peabody, MA.
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Downtown Peabody, Peabody, MA Local Guide
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Best Value Apartments for Rent in Downtown Peabody, MA
As of March 23, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 8 Elm St, Unit #1 | 8 Elm St | 2BR,1BA | $2.08 |
| River Properties | 314 River Rock | 2BR,1BA | $2.79 |
| 109 Foster St, Unit #220 | 109 Foster St | 2BR,1BA | $2.78 |
| 114 Foster St, Unit #1 | 114 Foster St | 2BR,1BA | $2.78 |
| 15 Lowe St, Unit 1 | 15 Lowe St | 2BR,1BA | $2.59 |
| Grove Street Landing | 1B | 2BR,2BA | $3.39 |
| Peabody Place, LLC. | 1BR/1.0BA | 1BR,1BA | $3.45 |
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Pet Friendly LifestyleDowntown Peabody, Peabody, MA
Ranked #4
Among neighborhoods in Peabody, MA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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
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 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.
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.
How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.