Rents are 19% below what Cape Coral's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,953 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Cape Coral is 8% below its high of $2,123 in April 2023, at $1,953 as of September 2026.
Rent in Cape Coral changed +0.6% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in Cape Coral rose 54.6% while median household income rose 26.8% ($61,599 to $78,104). Rent outpaced income.
Rent in Cape Coral is 43.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($78,104) is $1,953 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,690); a 2-bedroom is $2,093.
The priciest of 6 ZIP codes in Cape Coral, 33993 ($2,054/mo), costs 13% more than the cheapest, 33909 ($1,814/mo).
North Fort Myers, 9 miles away, rents for 21% less ($1,550/mo), about $4,800 a year in savings.
From Zillow's monthly rent index (ZORI) for Cape Coral. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Cape Coral, FL is majority owner-occupied, has a large retiree population, 26.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Cape Coral, FL has changed in 5 years
Since 2021, the typical rent in Cape Coral, FL has increased from $1,535 to $1,953, a 27.2% change over five years. Household income in the area moved from $65,282 to $78,104 across the same window, up 19.6% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 11.7% since 2021, moving from about 193,003 residents to roughly 215,536. College-educated residents now make up 26.9% of adults here, versus 23.6% in 2021. Reading these numbers side by side helps frame whether current listings in Cape Coral, FL look reasonable against where the market sat half a decade ago.
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Can you afford rent in Cape Coral on your salary?
At $1,953/mo, how Cape Coral rent compares to typical pay (30% rule).
Cape Coral rent by bedroom count
Median rent for each apartment size in Cape Coral. Click any size for full breakdown.
Tips for renters in Cape Coral
Last updated: October 17, 2026
The median rent in Cape Coral is $1,953/mo as of October 2026. A studio apartment averages $1,680/mo while a 2-bedroom runs $2,093/mo. One-bedroom apartments average $1,690/mo and 3-bedroom units go for $2,750/mo.
At 30% of local median household income ($78,104/yr), Cape Coral ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.6% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Cape Coral?
At $1,953/mo, rent takes ~30% of Cape Coral's median household income ($78,104/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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