close
View Me
Cheap Apartments for Rent in the South Peabody Neighborhood of Peabody, MA from $1,000 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Peabody area of Peabody.
close
View Me
Rent Specials
from $1,8001 to 2 Bedroom Apartments Contact Us For Availability
Terrace Gardens
2 Esquire DrPeabody, MA 01960
147 Washington St
PeabodyMA01960
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
close
View Me
from $2,0501 to 3 Bedroom Apartments Contact Us For Availability
Terrace Estates Apartments
143 Shore DrPeabody, MA 01960
6 Wheeler St
PeabodyMA01960
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
close
View Me
303 Broadway
LynnMA01904
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
37 Osborne Hill Dr
SalemMA01970
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
Showing Results 1-12, Page 1 of 1
South 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 South Peabody?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Peabody Studio Apartments | $2,268 | $1,050 | $2,699 |
| South Peabody 1 Bedroom Apartments | $2,745 | $1,800 | $7,200 |
| South Peabody 2 Bedroom Apartments | $3,404 | $1,950 | $10,000+ |
| South Peabody 3 Bedroom Apartments | $3,807 | $2,400 | $4,600 |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the South Peabody Neighborhood of Peabody, MA.
See all Apartments in PeabodyExplore Peabody
South Peabody, Peabody, MA Local Guide
- Nearby Peabody neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available South Peabody Apartments for Rent
The cheapest available apartment rental in the South Peabody area of Boston, MA is a 1 Bed unit found at Princeton Crossing priced from $2,170. Ezio‘s Place has the second lowest priced unit, which is a 2 Beds apartment currently listed from $2,200. Here are the most affordable South Peabody apartments for rent in Boston, MA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Princeton Crossing | One BR Deluxe | 1BR,1BA | $2,170 |
| Ezio‘s Place | Affordable Unit (income restricted) | 2BR,1BA | $2,200 |
| 14 North | Aster Gardens (A1B) | 1BR,1BA | $2,302 |
| Michaels Landing | Affordable Waitlist (income restricted) | 2BR,2BA | $2,350 |
| Highlands at Dearborn Apartments | The Attitash | 1BR,1BA | $2,375 |
Best Value Apartments for Rent in South Peabody, MA
As of May 11, 2025 the best value apartment in the South Peabody area is the $2.74 price per square foot 2BED 2BATH (AUG-SEP 2025) Model at Michaels Landing in the in the South Peabody neighborhood starting from $3,150. The second greatest value South Peabody apartment is the 69 Lake View Ave Model at 69 Lake View Ave, Unit 1 starting at $2,800 with a $2.55 price per square foot in the East Lynn neighborhood. Here is today’s list of the best values for South Peabody apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Michaels Landing | 2BED 2BATH (AUG-SEP 2025) | 2BR,2BA | $2.74 |
| 69 Lake View Ave, Unit 1 | 69 Lake View Ave | 2BR,1BA | $2.55 |
| 174 Lynn St, Unit #2 | 174 Lynn St | 2BR,1BA | $2.58 |
| 9 Bowditch St, Unit #2 | 9 Bowditch St | 2BR,1BA | $2.40 |
| 26 Northend St, Unit #2 | 26 Northend St | 2BR,1BA | $2.40 |
| 47 Holten St, Unit #1 | 47 Holten St | 3BR,1BA | $2.90 |
| 91 Lowell St, Unit #3 | 91 Lowell St | 2BR,1BA | $2.60 |
| Ezio‘s Place | Affordable Unit (income restricted) | 2BR,1BA | $2.59 |
| 14 North | Aster Gardens (A1B) | 1BR,1BA | $3.05 |
| 21 N Central St, Unit #2 | 21 N Central St | Studio ,1BA | $2.76 |
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 South Peabody area?
If you’re an expert on all things South Peabody, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleSouth Peabody, Peabody, MA
Ranked #5
Among neighborhoods in Peabody, MA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
Our team of engineers and researchers compares millions of points of data to bring you Lifestyle Ratings of rentals in cities and towns across the United States, including Peabody. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for easy access to the parks, luxury amenities, family-friendly amenities, raising pets, transit options, and much more. These search options are in the site filters at the top of this page.
Getting Around the South Peabody Neighborhood in Peabody, MA
Walk Score®
39 / 100
Car-Dependent
Most errands require a car
Bike Score®
34 / 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 South Peabody Apartments
What is the price of a cheap apartment in South Peabody?
The cheapest apartment in South Peabody is Princeton Crossing which is listed at $2,170, while the average apartment in South Peabody costs $4,202.
What types of apartments are the cheapest in South Peabody?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 5 regular apartments in South Peabody that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in South Peabody?
Cheap apartments in South Peabody have an average cost of $149 which is $4,053 cheaper than the average rent for all rentals in South Peabody.
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.