Low Income Apartments and Affordable Housing For Rent in Peabody, MA

Discover affordable housing in Peabody where there are 19+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Brown School Residences

200 Lynn Street, Peabody, Massachusetts 01960

bed 1-2
payment $962-1141/mo.
switch_access_shortcut Short Wait
accessibility Accessible

Ahepa Daughters of Penelope

98 Central St, Peabody, Massachusetts 1960

switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
accessibility Accessible

Tannery II

12 Crowninshield St, Peabody, Massachusetts 01960

payment Subsidized

Peabody House

18 Walnut St, Peabody, Massachusetts 01960

payment Subsidized

14 North

1000 Crane Brook Way, Peabody, Massachusetts 01960

bed 1
payment $2283/mo.

Highlands at Dearborn Apartments

19 Magnolia Way, Peabody, Massachusetts 01960

bed 1
payment $2370/mo.

Essex

One Avalon Dr, Peabody, Massachusetts 01960

bed 2
payment $2824/mo.

10 Newcastle Rd Unit 2

10 Newcastle Rd Unit 2, Peabody, Massachusetts 01960

bed 2
payment $2600/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
real_estate_agent Naturally Affordable

50 Keyes Dr Unit #38-KD11

50 Keyes Dr Unit #38-KD11, Peabody, Massachusetts 01960

bed 2
payment $2655/mo.

13 Margin St Unit 13 Margin - 1

13 Margin St Unit 13 Margin - 1, Peabody, Massachusetts 01960

bed 2
payment $2700/mo.

33 Lynnfield St Unit 1

33 Lynnfield St Unit 1, Peabody, Massachusetts 01960

bed 2
payment $2600/mo.

40 County St Unit 1

40 County St Unit 1, Peabody, Massachusetts 01960

bed 3
payment $3200/mo.

144 Washington St Unit 3

144 Washington St Unit 3, Peabody, Massachusetts 01960

bed 2
payment $2550/mo.

20 King St Unit 3

20 King St Unit 3, Peabody, Massachusetts 01960

bed 2
payment $2400/mo.

61 Castle Cir Unit First Floor

61 Castle Cir Unit First Floor, Peabody, Massachusetts 01960

bed 1
payment $2000/mo.

Citizens Inn Between

25 Holten Street, Peabody, Massachusetts 01960

Citizens Inn Homes

40 Washington St, Peabody, Massachusetts 01960

switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers

Citizens Inn Transition

42 Washington St, Peabody, Massachusetts 01960

Family Quarters

4 Reed Rd, Peabody, Massachusetts 01960

accessibility Accessible

How To Identify Affordable Housing in Peabody, Massachusetts

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
calendar_today Opened: Feb 1
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Reported On May 23rd, 2024 by Nathan Brunet

calendar_today Opened: Jan 6
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Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Peabody, Massachusetts
$53.54/hour
$38.54 (+257%) more than Massachusetts minimum wage and $46.29 (+639%) more than the Federal minimum wage.
Learn More About Peabody, Massachusetts Affordable Housing ↓

What HUD offices serve Peabody, Massachusetts?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Peabody, Massachusetts.
Operates the Section 8 Housing Choice Voucher (HCV), Moving to Work programs for Peabody, Massachusetts.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Peabody, Massachusetts.

Go to the Massachusetts Public Housing and Low-Income Apartments Waiting Lists page for openings near Peabody.

How many renters live in Peabody, Massachusetts?

The City of Peabody has people living in households.

There are renters living in renter households in this City. Renters make up 29.03 percent of the population living in Peabody.

What is the rental market like in Peabody, Massachusetts?

There are an estimated housing units in the Peabody area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Peabody, Massachusetts, there are 1.03 rental units.

What is the vacancy rate for rentals in Peabody?

The rental vacancy rate in Peabody is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Peabody for each bedroom size?

Occupied Rental Units by Size in Peabody
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
682 2,671 3,056 1,162 169
Occupied Rental Units by Size in Peabody

A large number of apartments in Peabody have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Peabody

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $2,212 to $3,765. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $2,212
One BR $2,377
Two BR $2,827
Three BR $3,418
Four BR $3,765
2024 Fair Market Rents in Peabody, Massachusetts

How many units are rented at Fair Market Rent (FMR) in Peabody?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 388 57 percent
One BR 1,184 44 percent
Two BR 661 22 percent
Rental Units Below FMR in Peabody, Massachusetts

How many affordable rental units are in Peabody?

There are a variety of federal affordable housing programs serving households in Peabody, Massachusetts including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
Section 202 Supportive Housing for the Elderly
Section 811 Supportive Housing for Persons with Disabilities
Tracked Units by Federal Program in Peabody, Massachusetts

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Peabody, Massachusetts

Peabody features 364 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Peabody, Massachusetts

There are 55 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Peabody.

Housing Choice Vouchers in Peabody, Massachusetts

On average, Section 8 Housing Choice vouchers pay Peabody landlords $1,300 per month towards rent. The average voucher holder contributes $500 towards rent in Peabody.

The maximum amount a voucher would pay on behalf of a low-income tenant in Peabody, Massachusetts for a two-bedroom apartment is between $2,544 and $3,110.

Sourced from federal housing data and AffordableHousingOnline.com research.

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