What it's like to live in Peabody
Peabody is a smaller city in Massachusetts with household incomes running above the national average, air quality that stays clean most of the year, and schools with smaller class sizes than the national average. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Peabody deals with rent well above the national average, home prices well above the national average, a rent burden that leaves many renters stretched thin, and cold winters.
The good
- Higher-than-average incomes
- Clean air
- Low student-teacher ratio
The not so good
- Rent well above the national average
- High home prices
- High rent burden for renters
- Cold winters
- Snowy winters — 48" per year
- Car-dependent — few commuters use transit
How Peabody compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Peabody
Based on Peabody's median rent, home value and household income
To rent
$3,900
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $78,000 a year
- 55% of Peabody renters spend 30% or more of their income on rent
To buy
$119,240
a 20% down payment on the median home
- With 10% down: $59,620
- Homes cost 6.2× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▲ 38% above US
$1,950/mo median rent
Rent is expensive here, at $1,950 a month median and well above the national average. This is the kind of city where housing costs deserve serious budgeting before committing to a move. Home prices are steep, with a median around $596,200. Renting first to get a feel for the city before buying is often the more practical route.
Median home value $596,200 · 55% of renters cost-burdened
Job marketNear US average
4.4% unemployment
Unemployment here is 4.4%, close to the national average of 4.3%.
City-level (BLS)
Safety▼ 11% below US
292 violent crimes per 100k
Crime runs about typical for a city this size. Some neighborhoods are safer than others, and one overall rate doesn't tell the whole story, so a neighborhood-level look matters more than the headline stat.
Property crime 627/100k · Peabody Police Department · 2025 data
Getting aroundNear US average
26 min average commute
Commutes run about average, at 25.8 minutes. Fine day to day, but it adds up over a year, and where someone lives relative to where they work starts to matter. 8 in 10 workers drive to work; 10% work from home.
How workers get to work
Climate
Summers are comfortable, with highs around 79°F, and winters are cold, with lows around 22°F and snow a regular occurrence. Rainfall is regular throughout the year.
Average month
30-year averages, 1991–2020
Education & workforceNear US average
35% bachelor's degree or higher
Education levels run about average, with 35% college-educated. It's a mix of white-collar and blue-collar work, which can be an asset or a limitation depending on the field.
Schools
11 public schools inside the boundary
There are 11 public schools inside the boundary and 3 private schools. The student-to-teacher ratio is 12:1, well below the national average of 16:1. Smaller class sizes are generally a positive sign for a district.
Parks & recreation
The nearest national park or historic site is Salem Maritime National Historical Park (4 miles away). There are 8 national parks and sites within a day's drive.
Bottom line
Peabody's strongest points are household incomes running above the national average and air quality that stays clean most of the year; the main tradeoffs are rent well above the national average and home prices well above the national average. A year of median rent ($1,950/mo) equals 24% of the median household income here, more than the 21% typical nationwide. It may be a harder fit for renters on a tight budget and anyone who doesn't drive.
Other places near Peabody
All Massachusetts guides →Not sure Peabody is the one?
Put it side by side with another city.