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City Report · ME

Cape Elizabeth

·1st most expensive in Maine·One of the pricier rental markets in the US
Median rent (all units)
$3,166/mo
Year-over-Year
Stable
Month-over-Month
+8.9%
vs US Median
+$1,204
Rising (Monthly)
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Most AffordableMost Expensive
Cape Elizabeth · $3,166
More expensive than 92% of US cities · National median $1,962/mo
Affordability
53% of income
EXPENSIVE
0%30% benchmark60%+

At $3,166/mo, rent takes about 53% of the US median household income, well above the 30% benchmark.

Income to afford
$127,000/yr
US median income
$72,000/yr
Based on the 30%-of-income rule using Cape Elizabeth's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,890
1 BR
$2,150
2 BR
$2,760
3 BR
$3,380
4 BR+
$3,790
Fair Market Rent (HUD)
$2,760/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,166 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 →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$37,992/yr
At $3,166/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +8.9% MoM), not inventory.
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Community

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View Cape Elizabeth rent history (2015–2026) →
Salary vs rent

Can you afford rent in Cape Elizabeth on your salary?

At $3,166/mo, how Cape Elizabeth rent compares to typical pay (30% rule).

By apartment size

Cape Elizabeth rent by bedroom count

Median rent for each apartment size in Cape Elizabeth. Click any size for full breakdown.

Local insights

Tips for renters in Cape Elizabeth

About renting in Cape Elizabeth, ME

Last updated: August 17, 2026

The median rent in Cape Elizabeth is $3,166/mo as of August 2026. A studio apartment averages $1,890/mo while a 2-bedroom runs $2,760/mo. One-bedroom apartments average $2,150/mo and 3-bedroom units go for $3,380/mo.

At 53% of estimated US median household income ($72,000/yr), Cape Elizabeth ranks as expensive compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Cape Elizabeth an affordable city for renters?

Cape Elizabeth is considered expensive for renters. At $3,166/mo, rent takes approximately 53% of the US median household income ($72,000/yr). The standard benchmark is 30%. Cape Elizabeth significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Cape Elizabeth?

To keep rent at or below 30% of gross income, you would need to earn at least $127,000/year (~$61/hour full-time) to afford the median rent of $3,166/mo in Cape Elizabeth.

Is rent going up or down in Cape Elizabeth?

Rent in Cape Elizabeth has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Cape Elizabeth rent compare to other cities in Maine?

Cape Elizabeth is one of the pricier cities in Maine for rent, ranking #1 out of 23 tracked cities at $3,166/mo.

Which nearby cities are cheaper to rent in than Cape Elizabeth?

Several nearby cities have lower median rents than Cape Elizabeth ($3,166/mo): Old Orchard Beach ($1,889/mo), Portland ($2,438/mo), South Portland ($2,611/mo).

How does Cape Elizabeth rent compare to the national average?

Cape Elizabeth's median rent of $3,166/mo is $1,204 (61%) above the US national median of $1,962/mo. Within Maine, it ranks #1 out of 23 tracked cities.
Income Affordability
53%
EXPENSIVE

At $3,166/mo, rent takes ~53% of US median household income ($72,000/yr). The standard benchmark is 30%.

Cape Elizabeth 53%Benchmark 30%
State income tax5.8–7.15%
Run the Cape Elizabeth affordability calculator →
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Neighborhoods

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Public schools near Cape Elizabeth, ME

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