When Should I Look for Rental Homes? The vacancy rate in the city is low, so begin searching for apartments or houses to rent well in advance of your move date. Be prepared to jump through hoops for apartments - previous circus experience is a plus. It's a landlord's market here, and with many tenants to choose from they are going to be on the pickier side. So, be polite, show up on time, and treat the whole process as if you were applying for your dream job and you're sure to ace the interview.
What Do I Need? Be prepared. Just like the first day of school, bring everything you think you might need to rent an apartment when viewing homes or apartments to rent. You will need to have your credit history, employment and salary history, and any rental references that you have collected. Bring along pet records, too. Be prepared to throw down immediately on any apartment or home that you want, it's a serious game in Peabody. If you get a ‘Yes’, you don’t want to turn it into a ‘No’ by not having a check ready to sign.
Proctor: Proctor has mostly small to medium sized apartment complexes and single family homes in the area. It is occupied by a mix of both owners and renters. The vacancy rate is about 5 percent, so there is a high demand for city apartments. It may take a diligent search before you find something appropriate, but persevere! A lot of the properties are newer, which means less time making repairs and more time kicking back and enjoying your new home.$$$$
Birch St / Russell St: This is a family neighborhood of medium to large sized single family homes. However, the vacancy rate is almost nil at 2 percent. It is a quiet, peaceful neighborhood that makes a great place to raise a family, with a high degree of school age children in the area. The residents skew mostly wealthy, so if you are looking for an upscale place to live with surprisingly low rents, this is the way to go - manifest destiny your way to the top of the food chain. Home rentals are hard to come by, so start looking well ahead of the time you must move, and be prepared to jump on it when you find a place to rent. $
West Peabody: Hold onto your hats – this area has an almost zero percent vacancy rate. It is a wealthy neighborhood with many highly educated people in professional or management positions. Condos for rent or apartments for rent will be hard to find, as most of the housing is medium to large size single family homes. $$
Jubilee Drive / 1st Ave: The vacancy rate here isn’t as low as West Peabody or Birch St., but it is still low at about 3 percent. There is a mix of apartment buildings, high-rise apartments, and small to medium sized homes, occupied by renters and owners. Be prepared to move quickly on anything you find that you want to rent, no dilly-dallying here!$$$
South Peabody: The vacancy rate here is about the same as Jubilee Drive, and the rents are slightly lower. It is composed mostly of small to medium sized housing and small apartment buildings. It is an upper middle income area with many urban professionals who commute to Boston for work. $$
Peabody is a medium sized city with a higher cost of living and a great quality of life. It's been named one of the best places to retire in the Northeast, and if you can handle the tough winters, it is indeed a beautiful and quaint environment. Many people commute to Boston for work, and the cost of living in Peabody as compared to Boston (along with lower prices for apartments for rent) make Peabody an attractive alternative.