Moayed was born in Tehran, Iran. His father is a banker by profession. His parents emigrated from Iran in 1986. The family settled in Glenview, Illinois, a suburb of Chicago, when Moayed was five years old. He speaks Persian.
Moayed graduated from Glenbrook South High School in 1998. He then received a bachelor's degree from Indiana University in 2002. During college, he appeared in plays by Samuel Beckett, Carlo Goldoni and William Shakespeare.
Moayed moved to Manhattan after college. In 2002, Moayed and director Tom Ridgely, who was Moayed's roommate at Indiana University, co-founded the Waterwell, a theater, education and film company based out of New York. Waterwell has produced more than a dozen stage productions and shows since the theater was established.

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