Commute
An elevated score in the commute category points to excellent public transit accessibility and shorter-than-average work commute times in this area.
Employment
Higher than average median household income, income per capita and lower unemployment rates are seen in this area. The result is a high score in the employment category.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Health & Safety
Good air quality as well as nearby health facilities like hospitals, clinics, nursing homes, fire and police stations all contribute to a higher than average health and safety score.
Ratings
Based on recent surveys and polls, locals gave high marks in the walkability to local amenities, safety, public transit, friendliness of neighbors and overall sense of community in the area.
Cost Of Living
Living in this region comes with a high cost of living, translating to elevated costs for homes, goods and services, groceries, utilities, health care and transportation.
Located in the state of Massachusetts, Peabody is a medium-sized city with a population of 53,004 people. Peabody has a population density of 3,264 people per square mile. This would be considered well above the national population density level. At 89%, the majority of the Peabody population is White; this is followed by 4% Black and 1% Asian. The average American spends about 26 minutes on their one way commute to work each day. Lower travel times can increase overall happiness and allow for more time to be spent with family and friends. While living in Peabody, your commute times will be about average, with a one way commute time of 27 minutes.
If you’re considering moving to any new city, it could be a very intimidating task. However, it could also be a good experience if you are willing to get to know the city before actually living in Peabody, Massachusetts. When searching for a new neighborhood, several key items should be considered. Safety is of utmost importance, ensuring a secure environment with low crime. Proximity to your workplace or school helps reduce commuting time and offers convenience. Access to amenities such as parks, grocery stores, and healthcare facilities enhances your daily life. Public transportation options contribute to easy mobility. A sense of community fosters a supportive and engaging environment. Lastly, the overall atmosphere should align with your desired lifestyle, ensuring a fulfilling living experience. Considering these items will guide you towards finding the perfect neighborhood that fits all your needs. To help you find the best places to live in and around Peabody, AreaVibes has created a livability score using key metrics like amenities, cost of living, health & safety, employment, housing and more.
Using data and statistics Peabody has received a livability score of 78 out of 100. This score is ranked in the 93rd percentile when compared to all other cities. Based on this score, Peabody would be considered a very livable city! The cherry on top is that Peabody also ranks in the top 10 percent of all cities. Based on the rankings for each individual category, Peabody has received high marks for crime (B+), employment (A+) and housing (B). Peabody does not score well for the following: cost of living (F). It might be a smart idea to take a closer look at each category to find out why.
Unemployment rates can vary significantly among cities, impacting job prospects, wage levels and the overall economic health of an area. In Peabody, the unemployment rate stands at 2.63%, suggesting increased job opportunities and a heightened demand for workers. This scenario can lead to higher wages, as the demand for employees outpaces job availability. Importantly, a low unemployment rate often signifies a robust and flourishing local economy.
A robust real estate market serves as a crucial economic indicator, reflecting the local area's strength, stability and the confidence of its residents. Peabody excels in the housing sector, scoring high marks based on factors such as median home and rental prices, appreciation rates and home affordability. These calculations suggest that the apartment rental and real estate market in the region is exceptionally healthy, highlighting the area's economic vitality and attractiveness to potential homebuyers and renters.
Being close to public transit, grocery stores, parks and other conveniences are all important when weighing your options for a new home in Peabody. Before you determine if any of these amenities are available in the area, you will also want to know if the real estate prices in Peabody are affordable. The median home price for Peabody homes is $419,500, which is 23% higher than the Massachusetts average. If we take a closer look at the affordability of homes in Peabody, we’ll see that the home price to income ratio is 5.2, which is 8.3% higher than the Massachusetts average.
| Statistic | Peabody | Massachusetts | National |
| Average one way commute | 27min | 29min | 26min |
| Workers who drive to work | 84.2% | 71.1% | 76.4% |
| Workers who carpool | 7.2% | 7.5% | 9.3% |
| Workers who take public transit | 3.1% | 9.9% | 5.1% |
| Workers who bicycle | 0.0% | 0.8% | 0.6% |
| Workers who walk | 1.0% | 4.9% | 2.8% |
| Working from home | 3.2% | 4.7% | 4.6% |
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