40R Highland Ave
SalemMA01970
Cheap Apartments for Rent in the Federal Street Neighborhood of Salem, MA from $900 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in the Federal Street area of Salem.
close
View Me
from $1,3501 to 2 Bedroom Apartments Contact Us For Availability
Salem Heights
12 Pope StSalem, MA 01970
close
View Me
from $1,700Studio to 2 Bedroom Apartments Contact Us For Availability
Salem Highlands
84 Highland AveSalem, MA 01970
233 Lafayette St
SalemMA01970
close
View Me
Studio to 1 Bedroom Apartments
Fairweather Apartments (Age 62+ Community)
40 Highland AveSalem, MA 01970
close
View Me
close
View Me
close
View Me
close
View Me
9 Cox Ct
BeverlyMA01915
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
Rent Specials
from $1,7251 to 2 Bedroom Apartments Contact Us For Availability
Terrace Gardens
2 Esquire DrPeabody, MA 01960
5 Pleasant St
BeverlyMA01915
close
View Me
close
View Me
close
View Me
Showing Results 1-15, Page 1 of 1
Federal Street, Salem, MA Local Guide
Salem Common by Diego Brito is licensed under CC BY 2.0
How much does it cost to rent an apartment in Federal Street?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Federal Street Studio Apartments | $2,125 | $1,100 | $2,700 |
| Federal Street 1 Bedroom Apartments | $2,793 | $1,350 | $7,012 |
| Federal Street 2 Bedroom Apartments | $3,362 | $1,500 | $9,464 |
| Federal Street 3 Bedroom Apartments | $3,157 | $2,550 | $4,750 |
Browse Apartments in this Neighborhood
There are currently 15 rentals with your search options within a 2 mile radius of the Federal Street Neighborhood of Salem, MA.
See all Apartments in SalemExplore Salem
Federal Street, Salem, MA Local Guide
- Nearby Salem neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Federal Street Apartments for Rent
The cheapest available apartment rental in the Federal Street area of Boston, MA is a 1 Bed unit found at Peabody Place, LLC. priced from $1,899. 1 Harbor has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,000. Here are the most affordable Federal Street apartments for rent in Boston, MA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Peabody Place, LLC. | 1BR/1.0BA | 1BR,1BA | $1,899 |
| 1 Harbor | 1BR/1.0BA | 1BR,1BA | $2,000 |
| Holmes Beverly | Studio | Studio,1BA | $2,250 |
| 39 Railroad | 2BR/1.0BA | 2BR,1BA | $2,400 |
| Sofi At Salem Station | McIntire | 1BR,1BA | $2,550 |
Best Value Apartments for Rent in Federal Street, MA
As of March 22, 2025 the best value apartment in the Federal Street area is the $2.07 price per square foot 7 Hancock St Model at 7 Hancock St, Unit 1 in the in the South Salem neighborhood starting from $3,100. The second greatest value Federal Street apartment is the 23 Gardner St Model at 23 Gardner St starting at $2,600 with a $1.86 price per square foot in the South Salem neighborhood. Here is today’s list of the best values for Federal Street apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 7 Hancock St, Unit 1 | 7 Hancock St | 3BR,1BA | $2.07 |
| 23 Gardner St | 23 Gardner St | 2BR,1BA | $1.86 |
| Vavel Apartments | A3 | 2BR,2BA | $2.77 |
| Essex Apartment Homes | Sylvan | 2BR,2BA | $2.42 |
| 8 Elm St, Unit #1 | 8 Elm St | 2BR,1BA | $2.08 |
| River Properties | 314 River Rock | 2BR,1BA | $2.79 |
| Station 101 | 2 Bed A | 2BR,2BA | $2.76 |
| 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 |
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 Federal Street area?
If you’re an expert on all things Federal Street, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleFederal Street, Salem, MA
Ranked #9
Among neighborhoods in Salem, MA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Getting Around the Federal Street Neighborhood in Salem, MA
Walk Score®
90 / 100
Walker’s Paradise
Daily errands do not require a car
Bike Score®
68 / 100
Bikeable
Some bike infrastructure
Transit Score®
37 / 100
Some Transit
A few nearby public transportation options
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 Federal Street Apartments
What is the Cheapest Studio apartment in Federal Street?
Currently the most affordable Cheap Studio Apartment in Federal Street is at Holmes Beverly listed at $2,250.
How much is rent for a Cheap One Bedroom Federal Street Apartment?
The lowest price for a Cheap One Bedroom Federal Street Apartment is $1,899 at Peabody Place, LLC..
What is the lowest price for a Cheap Two Bedroom Federal Street Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Federal Street is starting from $2,400 at 39 Railroad.
What is the most affordable Federal Street Three Bedroom Apartment?
The best deal on a cheap Federal Street Three Bedroom Apartment rental is at and starts from $2,550.
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.
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.