BPN

🏪

Peabody

28 min to Boston
"North Shore value with leather history and mall sprawl"
Median Price
$638,500
$395/sqft
School Rating
6.8/10
Good
Appreciation
4.5%
per year
Commute
28 min
to downtown

Financing Considerations

Properties in Peabody typically typically qualify for conforming loans with more flexible underwriting standards.

Learn about loan thresholds, property condition impact, flood/wind insurance, and how vintage homes (common in many MA towns) affect mortgage approval.

✨The Vibe

Working-class North Shore city with honest prices and solid community feel

What It's Really Like

Peabody (say it: PEE-b'dee) was the leather capital of the world. Now it's solid middle-class North Shore with space, affordability, and zero pretense—real families, real life.

Best For

  • ✓First-time buyers wanting North Shore affordability
  • ✓Families seeking space and backyards
  • ✓North Shore workers avoiding Salem tourist crush
  • ✓Value seekers who don't need prestige

Avoid If

  • ✗You need top schools or walkability
  • ✗You want coastal/beach access
  • ✗You hate suburban sprawl

🌟Highlights

💰Most affordable North Shore with decent schools
🏬Northshore Mall and retail corridor
🚂Commuter rail to North Station
🏘️Actual single-family homes with yards

Insider Tips

  • 💡West Peabody near Lynnfield border is nicest
  • 💡Route 128 access is excellent for commuters
  • 💡Say "PEE-b'dee" not "PEA-body" or you'll get corrected

Demographics

Population
54,095
Median Age
47.5
Median Income
$116,767
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Similar Neighborhoods

🚇

Brookline

$1,025,000

"Brooklyn of Boston but you'll pay Manhattan prices"

🏡

Arlington

$1,011,000

"Not quite Cambridge prices, almost Cambridge schools"

🌊

Watertown

$805,000

"Armenian food paradise that's secretly convenient to everything"

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