Peabody, MA vs Somerset, MA

The cost of living difference between Peabody, MA and Somerset, MA is dramatic. Somerset is 33.1% cheaper than Peabody, a gap that translates to thousands of dollars per year in household expenses. Peabody has a cost index of 143 while Somerset sits at 107, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Peabody is $1,902/month compared to $1,313/month in Somerset — a 45% difference. Home values follow the same pattern: Somerset is more affordable at $389,400 median vs $566,200.

Median household income in Peabody is $95,278 compared to $111,720 in Somerset (-14.7%). Somerset offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Peabody spend roughly 24% of their income on rent, more than the 14.1% in Somerset.

Climate-wise, both cities share similar average temperatures (49.9°F vs 50.4°F). Somerset receives more rainfall at 45.9" per year compared to 44.9" in Peabody.