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City Report · ME

Cape Elizabeth

·3rd most expensive in Maine·One of the pricier rental markets in the US
Median rent (all units)
$2,721/mo
Year-over-Year
Stable
Month-over-Month
+15.8%
vs US Median
+$791
Rising (Monthly)
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Most AffordableMost Expensive
Cape Elizabeth · $2,721
More expensive than 86% of US cities · National median $1,930/mo
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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: May 18, 2026

Annual cost
$32,652/yr
At $2,721/mo median
Market timing
Rents rising
Act sooner rather than later.
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 $2,721/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: May 18, 2026

The median rent in Cape Elizabeth is $2,721/mo as of May 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 45% 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 $2,721/mo, rent takes approximately 45% 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 $109,000/year (~$52/hour full-time) to afford the median rent of $2,721/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 May 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 #3 out of 21 tracked cities at $2,721/mo.

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

Several nearby cities have lower median rents than Cape Elizabeth ($2,721/mo): Old Orchard Beach ($2,062/mo), Portland ($2,351/mo), South Portland ($2,429/mo).

How does Cape Elizabeth rent compare to the national average?

Cape Elizabeth's median rent of $2,721/mo is $791 (41%) above the US national median of $1,930/mo. Within Maine, it ranks #3 out of 21 tracked cities.
Affordability
45%
STRETCHED

At $2,721/mo, rent takes ~45% of US median household income ($72,000/yr). The standard benchmark is 30%.

Cape Elizabeth 45%Benchmark 30%
State income tax5.8–7.15%
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Lowest-rent ZIP codes in Cape Elizabeth
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Neighborhoods

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Public schools near Cape Elizabeth, ME

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