Salary & Cost of Living in Peabody, MA
Peabody, MA: $72,474 median salary, cost of living index 140.5, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$72,474
$35/hr
Cost of Living
140.5
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
3.2%
rate
Peabody, MA Overview
Population
54,251
Median Salary
$72,474
Average Salary
$81,171
Avg Commute
16 min
Median Home Price
$630,000
Median Rent
$2,547/mo
Job Growth
+2.3%
Sales Tax
6.25%
Peabody is located in Massachusetts with a population of 54,251. The median household salary is $72,474 per year ($35/hour), which is $13,090 above the national median of $59,384. The average commute time is 16 minutes, and the city has a job growth rate of +2.3%.
Peabody Salary by Experience Level (2026)
Wage distribution in Peabody, MA based on BLS percentile breakdown of the $72,474 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $44,934 | $21.60/hr | 0–2 years |
| Mid-Level (Median) | $72,474 | $34.84/hr | 3–7 years |
| Senior-Level | $102,913 | $49.47/hr | 8–15 years |
| Top 10% (90th Percentile) | $129,004 | $62.02/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Peabody Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Peabody, MA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$55,748
$4,645.65/month · $2,144.14/biweekly · Effective Rate: 23.1%
Gross Pay
$72,474
Federal Tax
-$7,558
State Tax
-$3,624
Local Tax
$0
FICA
-$5,544
Net Pay
$55,748
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,039.50 | $72,474.00 |
| Federal Income Tax | -$629.86 | -$7,558.28 |
| Massachusetts State Tax (5%) | -$301.98 | -$3,623.70 |
| Social Security (6.2%) | -$374.45 | -$4,493.39 |
| Medicare (1.45%) | -$87.57 | -$1,050.87 |
| Net Take-Home Pay | $4,645.65 | $55,747.76 |
Salary Comparison: Peabody vs Other Cities
See how Peabody's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Peabody, MA | $72,474 | 140.5 | $51,583 |
| National Average | $59,384 | 100 | $59,384 |
| Bentonville, AR | $72,500 | 98 | $73,980 |
| Chicago, IL | $72,500 | 107 | $67,757 |
| Medford, MA | $72,402 | 128.4 | $56,388 |
| National City, CA | $72,577 | 154.5 | $46,975 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Peabody
Peabody's cost of living index is 140.5 (national average = 100). Living in Peabody is 40.5% more expensive than the national average.
Median Home Price
$630,000
Median Monthly Rent
$2,547
Annual Rent Cost
$30,564
Your Salary's Purchasing Power
Your $55,748 annual take-home pay in Peabody has the purchasing power of approximately $39,678 in an average-cost US area. You would need to earn $101,826 in Peabody to match a $72,474 salary in an average-cost city.
Top Industries in Peabody
Peabody's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $72,474.
Salary Tips for Peabody Workers
- Negotiate for cost of living. Peabody has a cost of living 40.5% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- Research top industries. Peabody's top industries include Biotech, Education, Finance. Targeting roles in these sectors can help you earn above the $72,474 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Peabody, MA?
The median salary in Peabody, MA is $72,474 per year, or $35 per hour. The average salary is $81,171. This is $13,090 above the national median of $59,384.
What is the cost of living in Peabody, MA?
Peabody's cost of living index is 140.5 (national average = 100), meaning it is 40.5% more expensive compared to the national average. The median home price is $630,000 and the median monthly rent is $2,547.
What are the best industries in Peabody?
The top industries in Peabody, MA include Biotech, Education, Finance. The city has a job growth rate of 2.3% and an unemployment rate of 3.2%. Workers in these industries often earn above the city's median salary of $72,474.
How does Peabody's salary compare to other cities?
Peabody's median salary of $72,474 is 22.0% above the national median of $59,384. However, when adjusted for cost of living (index: 140.5), the real purchasing power is approximately $51,583.
What is the minimum wage in Peabody, MA?
The minimum wage in Peabody, MA is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.