Peabody, MA
Local Economy and Employment
Peabody has its roots as America’s “Leather City,” once flourishing on tannery activity. While those industries have faded, the city has successfully transformed its economy. Today, the downtown industrial park hosts a range of medical and tech firms, nearby Northshore Mall is a major regional retail hub, and utility services like the municipally run light plant support both locals and surrounding towns.
Major employers include medical technology and pharmaceutical companies such as Analogic and JEOL, along with research and manufacturing operations like Carl Zeiss AG and UTC Aerospace Systems. Steady job growth has come in healthcare and social assistance, construction, hospitality, and retail sectors, reflective of broader regional trends. Competitive business taxes and low residential electricity costs make Peabody an attractive place for small enterprises and job seekers alike.
Cultural Events and Community Festivals
Peabody is rich with community-focused events and cultural celebrations. The largest gathering each year is the International Festival, held in early September in downtown Peabody. Now in its 40th year, it draws thousands to enjoy ethnic food booths, arts and crafts, live performances, and children’s activities.
Summer brings family-friendly events like the Peabody Area Chamber’s “Shin Dig” at Brooksby Farm, with island-themed live music and laid-back vibes. Art ventures and small craft fairs occur throughout the year via local Cultural Council programming, spotlighting everything from ceramics to theater and film. In autumn, the city and its neighbors participate in North Shore traditions such as county fairs and cultural celebrations, which tap into the region’s agricultural and community spirit.
All of these gatherings are free or low-cost and aim to bring neighbors together in celebration of diversity, creativity, and local pride.
Real Estate Market
Peabody’s housing market remains highly competitive. Median sale prices currently hover in the mid-$600K range, reflecting modest year-over-year rises or slight dips depending on the neighborhood. Homes tend to sell quickly—often within two to three weeks—thanks to strong demand.
Buyers are often entering bidding environments where well-prepared offers and flexibility on schedules or contingencies can make the difference. Market analysts note that after years of a seller’s market, any slight increase in housing inventory across the region could give buyers more room to negotiate, but Massachusetts remains generally tight.
What makes Peabody particularly appealing is its balance—proximity to downtown Boston without Boston’s sticker shock. It offers diverse housing stock, from single-family homes and condos to newer townhomes, catering to first-time buyers, families, and retirees. Local schools, parks, shops, and dining complement the strong sense of community.
Frequently Asked Questions:
What Kind of Jobs are Available Locally?
You’ll find employment opportunities in healthcare, technology, manufacturing, retail, and public utilities. Growth in the service sectors—such as hospitality and construction—also fuels local hiring.
Is Peabody Family-Friendly?
Yes. It offers solid public schools, plentiful parks and recreational amenities, and community events like festivals and open farm days, which appeal to families and individuals alike.
How is the Commute?
Peabody offers easy access to I‑95 and Route 128. Commuter rail and bus services connect residents to Boston and the North Shore, making it feasible for people who work in the city but prefer suburban living.
What Makes Peabody Stand Out?
A deep historic identity as part of the leather industry, a welcoming and culturally rich atmosphere, reasonable taxes, affordable energy, and a close-knit feel all contribute to Peabody’s charm.
[ Zipcodes: 01960 , 01961 ]
Visit Crack’d Kitchen in Peabody!
When in Peabody, visit Crack’d Kitchen and treat yourself to our local favorites — from fresh smoothies and gluten-free healthy meals to handcrafted coffee and warm, freshly baked bagels.
Whether you’re stopping by for breakfast or lunch, you can dine in, swing by our convenient drive-through, or order ahead for pickup. We also offer catering services for events of all kinds.
Visit us or contact us today!