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Studio Apartment for Rent in Peabody, MA

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    $3,270 Plus Fees

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Furnished Studio-Boston - Peabody

    200 Jubilee Dr, Peabody, MA 01960

    Enjoy a fully furnished studio suite in our hotel at an affordable rate with free wi-fi, free utilities and free premium cable. Each studio suite has a full kitchen with full-size refrigerator, stovetop and microwave, and has a flexible workspace and plenty of storage. All our hotels are pet-friendly and have on-site guest laundry available. Plus, there are no long-term commitments and you can

    Furnished Studio-Boston - Peabody

    (351) 333-6147

    200 Jubilee Dr, Peabody, MA 01960

Why Live in Peabody

Peabody, Massachusetts, situated in Essex County, is a vibrant city with a rich industrial history dating back to the 18th century. Today, its economy thrives on manufacturing, retail, and service industries, with major employers like Northshore Mall and Boston Children's Hospital - Peabody. The city boasts a population of approximately 54,204 and offers a welcoming environment for businesses, featuring one of the lowest tax rates in the county. Peabody's attractions include the bustling Northshore Mall, which defies the trend of declining brick-and-mortar retail with over 140 shops and dining options. Downtown Peabody is home to cultural venues like the Black Box Theater and the North Shore Children's Museum. The annual Peabody International Festival celebrates the city's diversity with food, performances, and games. Housing options range from Cape Cod and Colonial Revival homes to multifamily properties and condos, with prices generally lower than in Boston. Education is supported by Peabody Public Schools and highly rated private institutions like Covenant Christian Academy and Bishop Fenwick High School. Outdoor enthusiasts can explore Crystal Lake Conservation Land and Brooksby Farm, while the Independence Greenway Path offers recreational trails. Peabody is conveniently connected via Interstate 95 and U.S. Route 1, with commuter rail access in nearby Salem. Crime rates in Peabody are below the national average, contributing to a sense of security for residents.

Frequently Asked Questions

How much does it cost to rent a home in Peabody, MA?
The median rent for a home in Peabody, MA is $2,700 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Peabody, MA?
To comfortably afford the median rent in Peabody, MA, a household needs to earn roughly $108,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,700 per month in Peabody, MA, renters typically need to show $8,100 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Peabody, MA?
In Peabody, MA, the price-to-rent ratio is 20.2, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Peabody, MA are best for renting a home?
The best neighborhood for renting in Peabody, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Downtown Lynn, Revere Beach, West Revere and Crescent Beach, each with its own character and price range.

Rental Home Trends in Peabody, MA

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,700
Median Single Family Home Rent
$3,350
Median Condo Rent
$2,500
How to Rent a Home