Highlands at Dearborn Apartments
19 Magnolia Way,
Peabody, MA 01960
1-3 Beds | $2,470 - $3,650
Rental Market Trends in Peabody, MA
Updated July 2026
The average rent in Peabody, MA is $2,227/month.
Rent in Peabody is 34% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$2,227/month
Average Rent
737 Sq Ft
Average Size
+2.6%
Change / Year
471
Available Apartments
Peabody rent varies by unit size and layout:
- Studio apartments in Peabody average $1,528 per month.
- One-bedroom apartments in Peabody average $2,227 per month.
- Two-bedroom apartments in Peabody average $2,834 per month.
- Three-bedroom apartments in Peabody average $3,406 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Peabody, MA?
In the past year, rent has increased by 2.6%, which averages out to $59 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Peabody, MA
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
8%
$700 - $1,000/month
0%
$1,001 - $1,500/month
15%
$1,501 - $2,000/month
77%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Peabody?
Based on current rent prices, Central Peabody, West Peabody and South Peabody are the most affordable neighborhoods in Peabody.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Peabody?
Based on current rent prices, South Peabody, West Peabody and Central Peabody are the most expensive neighborhoods in Peabody.
Neighborhood
Average Rent
Average Sq Ft
Which Peabody neighborhoods have the most rentals available?
The neighborhoods in Peabody with the most apartments available are West Peabody, Central Peabody and South Peabody .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Peabody, MA?
Because the average rent in Peabody is $2,227, you’ll want to make about $7,423 per month or $89,076 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Peabody, MA compare to other nearby cities and neighborhoods?
Use the tool below to compare Peabody, MA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Peabody Area GuideStudio
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-
One Bedroom
$2,310/month
-
Two Bedroom
$2,735/month
-
Three Bedroom
$3,082/month
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Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Peabody?
The average rent in Peabody is $2,227 per month, which is 33.9% higher than the national average of $1,663.
Are rents going up or down in Peabody?
Rents in Peabody, MA are increasing, with prices up 2.6% year-over-year and $59 more per month.
What rent range is most common in Peabody?
In Peabody, MA, 77% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.