Highlands at Dearborn Apartments
19 Magnolia Way,
Peabody, MA 01960
$2,530 - $3,980 Total Monthly Price
1-3 Beds
Rental Market Trends in Peabody, MA
What is the average rent in Peabody, MA?
$2,197/month
Average Rent
737 Sq Ft
Average Apartment Size
-1.7%
Decrease in the Last Year
As of April 2026, the average rent in Peabody, MA is $2,197 per month. This is 34% higher than the national average rent price of $1,641/month, making Peabody one of the most expensive cities in the US. When you rent an apartment in Peabody, you can expect to pay about $1,844 per month for a studio, $2,197 for a one-bedroom apartment, and around $2,824 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,451 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Peabody, MA?
In the past year, rent has decreased by 1.7%, which averages out to $36 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2026
Legend
2025
2026
Rent Ranges in Peabody, MA
Last Updated April 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
Last Updated Today
What are the most affordable neighborhoods in Peabody?
Based on current rent prices, Central Peabody, West Peabody and Huntington Woods Condominiums 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, Huntington Woods Condominiums, 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 Huntington Woods Condominiums .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Peabody, MA?
Because the average rent in Peabody is $2,197, you’ll want to make about $7,323 per month or $87,876 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.
Studio
-
-
One Bedroom
$2,349/month
-
Two Bedroom
$2,731/month
-
Three Bedroom
$3,060/month
-
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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 February 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.