Cheap Apartments for Rent in the Downtown Peabody Neighborhood of Peabody, MA from $1,000 (14 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Peabody area of Peabody.

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2 Main Street
Studio Apartments

2 Main Street

2 Main StPeabody, MA 01960
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45 Washington St
1 to 4 Bedroom Apartments

45 Washington St

45 Washington StPeabody, MA 01960
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17 Peabody Sq
1 Bedroom Apartments

17 Peabody Sq

17 Peabody SqPeabody, MA 01960
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72 Central St
2 Bedroom Apartments

72 Central St

72 Central StPeabody, MA 01960
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61-63 Aborn St
1 to 3 Bedroom Apartments

61-63 Aborn St

61-63 Aborn StPeabody, MA 01960
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2 Littles Ln
1 Bedroom Apartments

2 Littles Ln

2 Littles LnPeabody, MA 01960
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1 Main St
1 Bedroom Apartments

1 Main St

1 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

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175 Boston St
1 to 2 Bedroom Apartments

175 Boston St

175 Boston StSalem, MA 01970
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52 Beaver St
1 Bedroom Apartments

52 Beaver St

52 Beaver StSalem, MA 01970

Downtown Peabody, Peabody, MA Local Guide

Cheapest Available Downtown Peabody Apartments for Rent

 

The cheapest available apartment rental in the Downtown Peabody area of Peabody, MA is a 1 Bed unit found at Peabody Place, LLC. priced from $1,899. Grove Street Landing has the second lowest priced unit, which is a 2 Beds apartment currently listed from $2,750. Here are the most affordable Downtown Peabody apartments for rent in Peabody, MA:

Apartment ListingModel NameBed/BathPriced From
Peabody Place, LLC.1BR/1.0BA1BR,1BA$1,899
Grove Street Landing2012BR,2BA$2,750
River Properties314 River Rock2BR,1BA$2,900

Best Value Apartments for Rent in Downtown Peabody, MA

As of March 16, 2025 the best value apartment in the Downtown Peabody area is the $2.79 price per square foot 314 River Rock Model at River Properties in the in the South Salem neighborhood starting from $2,900. The second greatest value Downtown Peabody apartment is the 15 Lowe St Model at 15 Lowe St, Unit 1 starting at $2,200 with a $2.59 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.
River Properties314 River Rock2BR,1BA$2.79
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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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.

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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.

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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.

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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.