Peafowl males (peacocks) make a lot of noise **during the breeding season** and not all the time. Generally that would be spring. Unfortunately peafowl can not read, and have not read about when they should be breeding, so you sometimes hear a peacock crying out of season... but mostly this is in the spring and summer. It's quite loud. Birds sing, or make noise, to defend territory. it's the peacock's way to let other peacocks know that this is his territory and he will defend it.
They are impressively loud. The other thing you should know is that unless you have them confined to an aviary, peafowl will range in a circle of roughly 5 miles. That means that for 2.5 miles and 360 degrees from your house, which would presumably be the home range, they would be flying there, crapping on people's vehicles, doing their territorial calls and generally annoying people. If you want to keep peafowl, I would highly recommend that FIRST you build an aviary. A really, really big one. And yes, it will have to have a top to it. They can fly very high and think nothing of flying up 30' in the air into a tree to roost for the night.
Peafowl are magnificent birds but unless you live way out in the country or have a really good aviary, I can't recommend them for a neighborhood. I live way out in the country, had an aviary, and STILL got complaints about how loud my peacock was... from someone who lived two miles away. Good luck!