Peabody Hourly Wage & Salary 2026
Peabody, MA: $34.84/hr median hourly wage, $72,474 median annual salary, cost of living index 140.5, and $15.00/hr minimum wage. Calculate take-home pay with federal and Massachusetts taxes.
Peabody Hourly Wage Quick Answer
The median hourly wage in Peabody, MA is $34.84/hr, equivalent to $72,474 per year at 2,080 work hours. Entry-level pay estimates around $21.60/hr, senior-level pay estimates around $49.47/hr, and the local minimum wage is $15.00/hr.
Median Salary
$72,474
$34.84/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 ($34.84/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
$56,192
$4,682.65/month · $2,161.22/biweekly · Effective Rate: 22.5%
Biweekly paycheck estimate: this salary equals about $2,161.22 take-home per paycheck after estimated Massachusetts and federal taxes. For the 26-paycheck formula, three-paycheck months, and withholding examples, see the Biweekly Paycheck Calculator.
Gross Pay
$72,474
Federal Tax
-$7,114
State Tax
-$3,624
Local Tax
$0
FICA
-$5,544
Net Pay
$56,192
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,039.50 | $72,474.00 |
| Federal Income Tax | -$592.86 | -$7,114.28 |
| 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 | $4,682.65 | $56,191.76 |
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 $56,192 annual take-home pay in Peabody has the purchasing power of approximately $39,994 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.
Methodology & Local Economy Data Sources
How we calculate Peabody salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Peabody-MA metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Peabody indexed at 140.5.
- Median salary calculation: weighted average of Peabody's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $72,474 annual median.
- Tax burden reflects Massachusetts state income tax (5%) (no local income tax), sales tax (6.25%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Peabody: 3.2%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Biotech, Education, Finance — based on QCEW employment concentration data.
- Job growth: 2.3% projected through 2034, derived from BLS Employment Projections program for Massachusetts.
- Housing context: median home price $630,000, median rent $2,547/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Peabody, MA:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Peabody unemployment rate
- U.S. Census Bureau — Peabody QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — Massachusetts — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Peabody's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent Massachusetts labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the hourly wage in Peabody, MA?
The median hourly wage in Peabody, MA is $34.84 per hour. At a standard 2,080-hour work year, that equals about $72,474 per year. Entry-level workers are estimated around $21.60/hr, while senior-level workers are estimated around $49.47/hr before overtime, bonuses, or benefits.
What is the median salary in Peabody, MA?
The median salary in Peabody, MA is $72,474 per year, or $34.84 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.