Rent to own Homes in Peabody, MA
Enjoy the taste of New England! Check out the variety of dishes from Sea Witch Restaurant & Oyster Bar, the number-one seafood restaurant on the North Shore. Or, if you're in the mood for authentic Italian, Toscana's has seafood recipes that have been passed down from generation to generation. How about a Greek feast at Brothers Kouzina? Known to have the best Greek food in the Boston area, the dishes range from simple to exotic.
Peabody, MA is a great place for affordable rent-to-own homes! With a median household income of over $80,681 and a median rent of $1,503, the Peabody, MA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Peabody, MA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Peabody, MA Property Resources
Rent to own Homes in Cities Near Peabody, MA
- Abington
- Andover
- Arlington
- Avon
- Bedford
- Belmont
- Beverly
- Boxford
- Braintree Town
- Brockton
- Burlington
- Carlisle
- Chelsea
- East Bridgewater
- East Weymouth
- Everett
- Georgetown
- Hanson
- Hingham
- Holbrook
- Hull
- Lawrence
- Lincoln
- Lynn
- Lynnfield
- Malden
- Marblehead
- Medford
- Melrose
- Methuen Town
- Middleton
- Nahant
- North Reading
- North Scituate
- Peabody
- Reading
- Revere
- Saugus
- Somerville
- Southfield
- Stoneham
- Swampscott
- Tewksbury
- Topsfield
- Wakefield
- West Concord
- Westford
- Wilmington
- Winchester
- Woburn
Neighborhoods in Peabody, MA
Peabody Town Center rent to own homesBuying a Home in Peabody, MA
Peabody, MA is seeing rapid growth and Peabody, MA's' housing market remains not optimal with an average home price that is 93% above the 2024 national average. Peabody, MA is part of Essex county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Essex is 1% which is above the national average, which is 0.99%.
Median Home Price in Peabody, MA
Median Rent in Peabody, MA
Top 11 Reasons to Live in Peabody, MA
High quality of life! Peabody has a population of around 50,000 and the unemployment and poverty rates are much lower than the national average! Look near West Peabody or around Birch Street for great rent to own houses!
Affordable housing! Compared to some other parts of the country, Peabody's cost of living is not too bad for homeowners. The average mortgage is less than $2,000. Rent to own homes can be found near Main Street and Washington Street for easy access to the city center and Boston.
Significant history! Located within Salem, MA in the 15th century, only one person was killed during the Salem Witch uprising. The city's name changed to Peabody after the famous philanthropist, George Peabody, in 1868. At this time Peabody was known as a farming community but later became a leader in the leather and automobile industries. The areas near North Shore Mall and Andover Street are also rich with history!
Nice vacancy rate! With a 4% homeowner vacancy rate, you won't have difficulty finding a nice home in Peabody. The neighborhoods near Endicott Street and the clusters of shops and restaurants on Central Street offer convenient and easy places to find rent to own houses in Peabody!
Mixture of old and new homes! There are plenty of great neighborhoods to live in, including South Peabody. Homes in this area are fairly new, with many built between 1970 and 2000. Proctor is a neighborhood made up of newer homes, built in 2000 or later. West Peabody homes are older, having been built from 1940 to 1970.
Cultural and educational attractions! Visit the George Peabody House museum dedicated to the philanthropist the city was named after. Don't miss out on the most visited museum in the city, the Salem Witch Museum. The Peabody Essex Museum showcases everything from animal to cultural exhibits.
Check out great events! The Peabody International Festival has many fun activities and events for visitors to enjoy. You can also take in a nice show or musical at the North Shore Music Theatre.
Shop till you drop! Visit the Northshore Shopping Center for some great shopping at all your favorite stores. Or, if you're into neat old things, check out the antique shops in Essex.
Enjoy the outdoors! There are many attractions for your enjoyment in Peabody. If you love to take a swing at golf, you will enjoy the Meadow of Peabody Golf Course. Nature lovers will enjoy the numerous beaches in the North Shore, walking through the areas of Nahant and Lynn and enjoying the scenic views. Enjoy hiking and biking through the Middlesex Fells Reservation. For wildlife enthusiasts, take a short drive to the Parker National Wildlife Refuge and the Thacher Island National Wildlife Refuge.
Recreational activities! Deep sea fishing has never been more fun. Watch the whales entertain you and take a river cruise for a nice, relaxing and fun adventure. Contact Boston Harbor Cruises or Essex River Cruises for great ways to see the local area from a boat!