Rental market snapshot for Peabody, Cambridge
Peabody rental market summary
The rental market in Peabody, Massachusetts is showing signs of growth. On July 31, 2023, there were 190 new listings, a 16.7% increase from June 30, 2023. The median rent also increased from $3,000 to $3,500, a 2.9% increase from July 31, 2022. This suggests that the rental market in Peabody is becoming more competitive and that demand is increasing.
Renters in Peabody should expect to pay more for their rental units in the coming months. With the increasing number of listings and the rising median rent, it is likely that rental prices will continue to rise. This could make it difficult for renters to find affordable housing in the area. However, with the increasing demand, landlords may be more willing to negotiate on rent prices and other terms.
Median rent for all residential properties in Peabody
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The most expensive listings and top trending buildings in Peabody
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 15 Richdale Ave | $6,500 | 3 / 2.0 |
| 310 Concord Ave | $6,000 | 4 / 4.0 |
| 318 Concord Ave | $6,000 | 4 / 4.0 |
| 86 Sherman St | $5,950 | 3 / 2.0 |
| 6 Bellis Cir | $5,500 | 2 / 2.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Chestnut Hill Realty | $3,140 |
| Acorn Holdings LLC | $2,900 |
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Bedroom Breakdown in Peabody
Peabody neighborhood apartments rents
The rental market for studios in Peabody, Massachusetts is showing signs of improvement in June 2023, with only one new studio listing and a 24.5% decrease in median rent from May 2023 to June 2023. The median rent for studios in June 2023 is $2,200, which is significantly lower than the median rent of $2,912 in May 2023. This suggests that the rental market for studios in Peabody is becoming more affordable for renters.
The rental market for 1-bedroom apartments in Peabody, Massachusetts appears to be stable, with only two new listings in July 2023. The median rent for 1-bedroom apartments in July 2023 was $3,020, indicating that the rental market is still relatively strong. Unfortunately, no data is available for June 2023, so it is not possible to determine the percent change in rent from June to July. Overall, the rental market for 1-bedroom apartments in Peabody appears to be stable.
The rental market for 2-bedroom apartments in Peabody, Massachusetts is relatively stable. In June 2023, there was only one new 2-bedroom listing, and the median rent for 2-bedroom apartments was $3,500. This is a 4.1% decrease from the median rent in May 2023, which was $3,650. Overall, the rental market for 2-bedroom apartments in Peabody is relatively stable, with only a slight decrease in rent from month to month.