Cost of Living in Peabody, MA
Population 54,695 · Census ACS 2020–2024 5-year estimates
The median rent in Peabody, MA is $1,950/month, 11% higher than the Massachusetts median and 38% higher than the U.S. median. The median home value is $596,200, 79% higher than the national median. Households earn a median of $96,657 a year, 7% lower than the state median.
Affordability
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Peabody vs. Massachusetts vs. U.S.
| Peabody | Massachusetts | U.S. | |
|---|---|---|---|
| Median rent | $1,950 | $1,762 | $1,413 |
| Median home value | $596,200 | $562,100 | $332,700 |
| Median household income | $96,657 | $103,960 | $80,734 |
| Homeownership rate | 65.6% | 62.5% | 65.2% |
| Bachelor's degree or higher | 35.0% | 47.3% | 35.7% |
| Poverty rate | 7.7% | 10.0% | 12.5% |
| Unemployment rate | 4.9% | 5.2% | 5.2% |
| Work from home | 10.3% | 18.6% | 15.1% |
| Median age | 45.3 | 40.0 | 38.9 |
FAQ
What is the average rent in Peabody, MA?
The median gross rent in Peabody, MA is $1,950 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Peabody, MA?
Using the common 30% rule, renting a median-priced home takes about $78,000 a year in gross income.
Is Peabody, MA expensive to live in?
Rent there is 38% higher than the U.S. median, and the median home costs about 6.2 times the median household income.
Other cities in Massachusetts
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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