Cost of Living in Peabody
The biggest cost-of-living factor in Peabody, Massachusetts is housing. The median home is priced around $620K, or about $395 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $3,217, plus roughly $478 per month in property taxes. Rates and down payment change this figure significantly.
Peabody's FY2025 residential property tax rate is $9.26 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Peabody.