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City Report · ME

Cape Elizabeth

·2nd most expensive in Maine·One of the pricier rental markets in the US
Median rent (all units)
$2,908/mo
Year-over-Year
Stable
Month-over-Month
+1.0%
vs US Median
+$943
Rising (Monthly)
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Most AffordableMost Expensive
Cape Elizabeth · $2,908
More expensive than 89% of US cities · National median $1,965/mo
Affordability
48% of income
STRETCHED
0%30% benchmark60%+

At $2,908/mo, rent takes about 48% of the US median household income, well above the 30% benchmark.

Income to afford
$116,000/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
Research median
$2,760/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$34,896/yr
At $2,908/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +1.0% 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 $2,908/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: July 20, 2026

The median rent in Cape Elizabeth is $2,908/mo as of July 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 48% of estimated US median household income ($72,000/yr), Cape Elizabeth ranks as moderate 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 stretched for renters. At $2,908/mo, rent takes approximately 48% 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 $116,000/year (~$56/hour full-time) to afford the median rent of $2,908/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 July 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 #2 out of 25 tracked cities at $2,908/mo.

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

Several nearby cities have lower median rents than Cape Elizabeth ($2,908/mo): Old Orchard Beach ($1,915/mo), Portland ($2,429/mo), South Portland ($2,533/mo).

How does Cape Elizabeth rent compare to the national average?

Cape Elizabeth's median rent of $2,908/mo is $943 (48%) above the US national median of $1,965/mo. Within Maine, it ranks #2 out of 25 tracked cities.
Income Affordability
48%
STRETCHED

At $2,908/mo, rent takes ~48% of US median household income ($72,000/yr). The standard benchmark is 30%.

Cape Elizabeth 48%Benchmark 30%
State income tax5.8–7.15%
Run the Cape Elizabeth affordability calculator →
Lowest-rent ZIP codes in Cape Elizabeth
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Cape Elizabeth, ME

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