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City Report · MA

Peabody

Pop. 54,695·47th most expensive in Massachusetts·One of the pricier rental markets in the US
Median rent (all units)
$2,812/mo
Year-over-Year
+2.8%
Month-over-Month
+1.0%
vs US Median
+$847
Rising (Monthly)
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Most AffordableMost Expensive
Peabody · $2,812
More expensive than 87% of US cities · National median $1,965/mo
Rent Reality Score
58/100
Fairly priced
OverheatedFairGreat value

Rents are 4% below what Peabody's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$2,812/mo
Expected by trend
$2,933/mo
The Rent Reality Score compares today's median rent to where Peabody's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$2,000
1 BR
$2,140
2 BR
$2,550
3 BR
$3,080
4 BR+
$3,390
Research median
$2,550/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$33,744/yr
At $2,812/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+2.8% YoY, +1.0% MoM), not inventory.
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Demographics

Who lives here

Peabody, MA is majority owner-occupied, has a large retiree population, has a median income above the national average, 35% of residents hold a bachelor's degree or higher.

Population
54,695
Median income
$96,657
Median age
45.3
Renters
34.4%
Age distribution
18.7%
18.4%
23.8%
14.9%
24.3%
Under 1818.7%
18–3418.4%
35–5423.8%
55–6414.9%
65+24.3%
Gender
48%
52%
Male48%
Female52%
Race & ethnicity
75.3%
14.6%
White75.3%
Black4.6%
Hispanic14.6%
Asian2.5%
Other3%
Education (25+)
29.8%
25.4%
35%
No HS diploma9.7%
HS diploma29.8%
Some college25.4%
Bachelor's+35%
Housing tenure
65.6%
34.4%
Owner65.6%
Renter34.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Peabody, MA has changed in 5 years

Rent
$2,470 → $2,812
up 13.8%
Income
$83,570 → $96,657
up 15.7%
Population
54,200 → 54,695
up 0.9%
Renter share
34.4% → 34.4%
+0.0 pts
Bachelor's+
34.9% → 35%
+0.1 pts
Median age
46.5 → 45.3
-1.2 yrs

Compared with 2022, rent in Peabody, MA has climbed by $342 per month, settling near $2,812 after starting the period at $2,470. Census figures show median household income at $96,657 today, compared with $83,570 five years earlier. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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View Peabody rent history (2015–2026) →
Salary vs rent

Can you afford rent in Peabody on your salary?

At $2,812/mo, how Peabody rent compares to typical pay (30% rule).

By apartment size

Peabody rent by bedroom count

Median rent for each apartment size in Peabody. Click any size for full breakdown.

Local insights

Tips for renters in Peabody

About renting in Peabody, MA

Last updated: July 20, 2026

The median rent in Peabody is $2,812/mo as of July 2026. A studio apartment averages $2,000/mo while a 2-bedroom runs $2,550/mo. One-bedroom apartments average $2,140/mo and 3-bedroom units go for $3,080/mo.

At 35% of local median household income ($96,657/yr), Peabody ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

Is Peabody an affordable city for renters?

Peabody is considered moderate for renters. At $2,812/mo, rent takes approximately 35% of the local median household income ($96,657/yr). The standard benchmark is 30%. Peabody slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Peabody?

To keep rent at or below 30% of gross income, you would need to earn at least $112,000/year (~$54/hour full-time) to afford the median rent of $2,812/mo in Peabody. The local median household income is $96,657/yr, meaning the typical Peabody household falls short of that threshold.

Is rent going up or down in Peabody?

Rent in Peabody has increased 2.8% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Peabody rent compare to other cities in Massachusetts?

Peabody is middle-of-the-pack for Massachusetts for rent, ranking #47 out of 107 tracked cities at $2,812/mo.

Which nearby cities are cheaper to rent in than Peabody?

Several nearby cities have lower median rents than Peabody ($2,812/mo): Lynn ($2,300/mo), Swampscott ($2,764/mo).

What percentage of Peabody residents rent vs. own?

According to Census data, approximately 34.4% of Peabody households are renters, while 65.6% are owner-occupied. Peabody leans toward homeownership, which can mean a smaller rental inventory.

How does Peabody rent compare to the national average?

Peabody's median rent of $2,812/mo is $847 (43%) above the US national median of $1,965/mo. Within Massachusetts, it ranks #47 out of 107 tracked cities.
Income Affordability
35%
MODERATE

At $2,812/mo, rent takes ~35% of Peabody's median household income ($96,657/yr). The standard benchmark is 30%.

Peabody 35%Benchmark 30%
State income tax5%
Run the Peabody affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Peabody, MA

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