Peabody, MA—01960
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Peabody, MA
As of Oct '25, the median home price in Peabody, MA is $687,000, with a year-over-year change of 1.6%. This indicates that home prices in Peabody, MA are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $687,000 | 1.6% |
| Single Family | $715,000 | 1.6% |
| Condos | $480,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $367,000 | 0.3% |
2 Bed | $528,000 | 1.5% |
3 Bed | $690,000 | 1.3% |
4 Bed | $790,000 | 1.7% |
| 5 Bed | $883,000 | 2.4% |
% of Housing Stock
Rental Trends — Peabody, MA
As of July '25, Rentcast reports the average rent in Peabody, MA is $2,940, with a year-over-year rent change of 1.0%. Per bedroom, the median rent as of July '25 in Peabody, MA is studios: $1,940, 1-bedrooms: $2,650, 2-bedrooms: $3,030, 3-bedrooms: $3,600. The most common rental property sizes in Peabody, MA are 2-bedroom and 1-bedroom, accounting for 39.0% and 33.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,900 | $2,940 |
| Studio Rent | $1,600 | $1,940 |
| 1 Bed Rent | $2,600 | $2,650 |
| 2 Bed Rent | $2,960 | $3,030 |
| 3 Bed Rent | $3,500 | $3,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Peabody, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Peabody, MA is 19. This is a increase of 39.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $650,000 | 1.0% |
Listing Count | 40 | 9.0% |
| Listings as % of Homes | 0.1% | 9.0% |
Days on Market | 19 | 39.0% |
Demographics — Peabody, MA
As of the latest ACS Survey released in 2023, Peabody, MA has a population of 54,000, which has increased by 2.7% over the past 5 years. Peabody, MA is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 33.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,000 | 2.7% |
% Under 18 | 17.6% | -1.1% |
% Seniors | 24.2% | 11.0% |
% WFH | 8.7% | 222.2% |
% w/ College Degree | 33.7% | 1.5% |
As of the latest ACS Survey released in 2023, Peabody, MA is a predominantly white area, with 76.6% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Peabody, MA is hispanic, making up 12.5% of the population. Foreign-born residents account for 17.2% of the population in Peabody, MA, and this percentage has increased by 13.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.6% | -8.4% |
% Black | 3.6% | 5.9% |
% Hispanic | 12.5% | 19.0% |
% Asian | 2.0% | 100.0% |
% Foreign Born | 17.2% | 13.2% |
Mortgage and Risk — Peabody, MA
According to HUD data as of 2023, there were 762 mortgage originations in Peabody, MA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Peabody, MA. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 762 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Peabody, MA
Peabody, MA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,263 |
Total Units Section 8 | 1,212 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 83.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$460 | $2,600 | $2,140 |
| 2 Bedroom | -$410 | $2,960 | $2,550 |
| 3 Bedroom | -$420 | $3,500 | $3,080 |
| 4 Bedroom | N/A | N/A | $3,390 |
Affordability — Peabody, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.3 |
| Median Home Price | $687,000 |
| Median Household Income | $95,200 |