Peabody, Massachusetts.
Typical home $691,379 (+1.1% in a year), asking rent $2,836 (+2.0%). Boston-Cambridge-Newton, MA-NH metro.
to buy the typical home at today's mortgage rate — +$1,906 (+111%) since Jan 2020.
- 1 year
- Up $7,810 +1%
- $683,570$691,379 since Sep 2025
- 5 years
- Up $124,402 +22%
- $566,977$691,379 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Peabody$3,629
- Massachusetts$3,439
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 17 years.
Typical home values in Peabody, MA rose 1.1% over the past year — in step with the nation.
Asking rents in Peabody, MA rose 2.0% over the past year — slower than the nation's +2.7%.
Owning the typical home in Peabody runs $2,131/mo more than renting one. The gap peaked at $2,243 in Jan 2025.
That is $4,967 a month against $2,836 rent: a $3,629 mortgage payment, plus $598 property tax and $740 insurance & upkeep.
Owning vs renting — Peabody
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$4,967
- Renting$2,836
- Mortgage only$3,629
Property tax · $598/mo 1.04% of value a year — the ACS 2020-2024 median bill over the median home value for Essex County, MA
Insurance & upkeep · $740/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Peabody, Essex County, Massachusetts
Peabody is a city of 54,481 people in Essex County. Half its households earn more than $96,657 a year and half less, against $101,883 across Essex County; 8% of its people live below the poverty line. 66% of its homes are lived in by their owners and 34% are rented. Unemployment in Peabody was 4.6% in August 2026, and Essex County had 0.9% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Peabody is a city in Essex County, north of Boston, with residents who are older than in many American towns. Most homes are lived in by their owners, and household incomes run a little below the county's. Winters are cold, with January the coldest month, summers are warm, and precipitation falls fairly evenly through the year as both rain and snow.
Work. Many residents work in schools, hospitals and social care, with professional and business services, shops and manufacturing also common. Among the largest workplaces in Peabody are Lahey Clinic North, Peabody Schools and Chelsea Jewish Lifecare. Unemployment is no different from a year ago, and a four-year degree is held by a minority of adults.
Things to do. The best-known places nearby are in and around Boston, all a longer drive away. They include the Museum of Fine Arts Boston, an art museum, and Fenway Park, the baseball stadium. The Isabella Stewart Gardner Museum is another art museum within the same longer drive.
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- 22,390households
- 35%of adults have a degree
- 8%below the poverty line
- 26 mintypical commute
- 10%work from home
What residents work in
Employed residents by industry, from the Census survey. Essex County had 326,688 jobs in 2025, 0.9% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 36° and lows near 20°; warmest in July, with highs near 82° and lows near 62°. About 45 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Beverly Municipal Airport weather station, 4 miles away (NOAA).
Largest workplaces in Peabody
- Lahey Clinic NorthHospitals, general medical and surgical1,163
- BridgewellDrug addiction rehabilitation facilities, residential1,135
- Peabody SchoolsSchool district823FTE
- Analogic 8 Centennial Dr PeabodySemiconductor high-voltage power supplies manufacturing595
- Chelsea Jewish LifecareSkilled nursing facilities396
- Expeditors - Main FacilityGeneral warehousing and storage254
- Cardinal Health Boston PDDruggists' sundries merchant wholesalers251
- Republic Services- PeabodyGarbage hauling, local201
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 35 workplaces with 20 or more staff, 6,150 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Ice stormsRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Peabody’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Essex County and the Boston-Cambridge-Newton, MA-NH metro.
Peabody home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Peabody$691,379
- Massachusetts$655,219
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 5 Peabody listings, and the typical home goes pending in 11 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Peabody21.56%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Peabody11
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Peabody79
New listings per month
Sellers arriving at the market.
- Peabody44
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Peabody$656,052
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Peabody102.24%
Zip codes with a Peabody address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Peabody — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.