Cost of Living in Peabody, MA
Housing
The housing market plays a significant role in determining the cost of living in Peabody, MA.
- Housing Index: 120.0 / 100
- Median Home Price is: $463000
- Average Rent (2 BR Apartment): $2300 per month
- Average Rent (2 BR House): $2400 per month
Considering a move to Peabody, MA? The housing market features a housing index of 120.0, indicating it’s more expensive than the national average. The median home price stands at 463000, while renting a 2-bedroom apartment costs roughly 2300 and a 2-bedroom house around 2400. Prospective residents should weigh these costs against local amenities, job opportunities, and overall lifestyle. For families or low-income individuals, the higher housing costs may suggest a need for financial planning or seeking more affordable areas nearby.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Peabody, MA.
- Electricity Price: $28.15 USD (median by state)
- Natural Gas Price: $21.62 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $280 per month
Living in Peabody, MA could entail higher utility costs. Electricity costs sit at $28.15, while natural gas is priced at $21.62 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $280 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Peabody is a financially viable option for your relocation.