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These days, finding an affordable place to live in the Peabody area can be challenging. Home prices in Peabody are now at a median cost of $590,960, lower than the Massachusetts average of $625,090.
The average cost of rent is $1,999/mo in Peabody, primarily driven by the current value of real estate in the Peabody area. In Peabody, 34.40% of households rent, and 35.05% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Peabody is $9,091 per month. Households that rent pay about 21.99% of their income on rent here. Peabody’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Danvers, MA: higher priced homes
- Salem, MA: less expensive homes
- Lynnfield, MA: higher priced homes
- Lynn, MA: less expensive homes
- Swampscott, MA: higher priced homes
- Beverly, MA: higher priced homes
- Middleton, MA: higher priced homes
- Marblehead, MA: higher priced homes
- Saugus, MA: equally priced homes
- Wakefield, MA: higher priced homes
Cities with Similar Populations
- Annapolis, MD: equally priced homes
- Ceres, CA: less expensive homes
- Chambersburg, PA: less expensive homes
- Redford, MI: less expensive homes
- Lancaster, OH: less expensive homes
- Loveland, OH: less expensive homes
- Meridian, MS: less expensive homes
- Miami Beach, FL: higher priced homes
- Minot, ND: less expensive homes
- Montgomery, TX: less expensive homes
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