Updated April 2026 · U.S. Census Bureau, fiscal year 2023
Is Peabody, MA in Financial Trouble?
Yes — Peabody, MA shows real signs of fiscal stress. Its D grade (48/100) puts it in the lower tier of cities its size, with multiple pressure points, debt burden, pension underfunding, or recent operating deficits, weighing on the score. Bond raters and state oversight officials tend to watch D-grade cities closely.
Peabody, MA Budget Snapshot
| Total Spending | $2.5B |
| Per Capita Spending | $46,262 |
| Total Revenue | $799.9M |
| Total Debt | $0 |
| Debt Per Capita | $0 |
| Population | 54,204 |
| Fiscal Health Score | 48/100 (D) |
| Data Year | FY 2023 |
Fiscal Health Score Breakdown
Peabody's D grade is the weighted average of six factors, each scored 0–100. Its strongest input is Debt Burden (per capita vs peers) (100/100); its weakest is Spending Efficiency (0/100). The weakest factor is where budget pressure is most likely to surface first.
What Does the D Grade Mean?
Peabody, MA earns a D on the CitySpend Fiscal Health Score (48/100). Multiple stress indicators, debt burden, pension underfunding, or a recent run of operating deficits, are flashing. Bond raters and state oversight officials typically pay closer attention to D-grade cities.
Debt Burden in Context
Debt-wise, Peabody sits close to the peer median for cities its size: $0 per resident versus a peer-group median of $0. That tracks with normal capital-program borrowing for streets, water, and public buildings.
Where the Money Goes
Of the $2.5B that Peabody, MA spent in its most recent reported fiscal year, the largest single line item per resident is Education at $22,635. Parks & Recreation comes next at $1,028 per resident. Together those two functions account for the bulk of every-day taxpayer-facing services in the city budget. The remaining categories, parks, health, housing, debt service, and general administration, fill out the picture.
Top Spending Categories (Per Capita)
Where the Money Comes From
Where does the money come from? Property tax provides 0 percent of city revenue, sales tax 3 percent, intergovernmental transfers from federal and state sources 44 percent, and direct charges and user fees 24 percent. The remainder comes from utility revenue, income tax (where applicable), and miscellaneous sources.
How This Score Is Calculated
The CitySpend Fiscal Health Score combines six factors into one composite, drawn from the U.S. Census Bureau Annual Survey of State and Local Government Finances: budget balance and reserves (25%), debt burden per capita versus peer median (20%), pension funded ratio from the Public Plans Database (20%), spending efficiency (15%), revenue diversity (10%), and three-year trend direction (10%). Best-practice weighting follows guidance from the Government Finance Officers Association (GFOA). Read the full methodology.
More about Peabody, MA
Yes — Peabody, MA shows real signs of fiscal stress. Its D grade (48/100) puts it in the lower tier of cities its size, with multiple pressure points, debt burden, pension underfunding, or recent operating deficits, weighing on the score. Bond raters and state oversight officials tend to watch D-grade cities closely.
This answer pulls from the Census Annual Survey of State and Local Government Finances, the authoritative federal source for U.S. municipal and county government finances. The headline number above is the direct answer; what follows is the additional context most readers need to use the answer for a real decision rather than just a fact lookup.
For readers turning this answer into action: cross-reference against the underlying the Census Annual Survey of State and Local Government Finances record before acting on time-sensitive decisions. The site renders the data as it was published; subsequent revisions can shift the picture, and the live federal data is always the authoritative current reference.