ZIP Code · FL

ZIP 33904

Part of Cape Coral, FL

Pop. 33,599·Lee County·384th most expensive ZIP in Florida

Median rent (all units)

$1,976/mo

Year-over-Year

-3.7%

Month-over-Month

Stable

vs US Median

+$44

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 33904 · $1,976

More expensive than 60% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,680

1 BR

$1,690

2 BR

$2,020

3 BR

$2,640

4 BR+

$2,920

Research median

$2,020/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

April. Asking rents in ZIP 33904 usually run 1.1% below trend in April and 1.2% above it in December, about $45 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 33904 is 10.1% below its high of $2,197 in January 2024, at $1,976 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 33904 changed -3.7% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 33904 rose 66.4% while median household income rose 37.3% ($51,861 to $71,190). Rent outpaced income.

Since before the pandemic

Rent in ZIP 33904 is 47.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 3 of the last 12 months.

What a typical income covers

30% of the median household income ($71,190) is $1,780 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,690); a 2-bedroom is $2,020.

Rank in Cape Coral

5th cheapest of 6 ZIP codes in Cape Coral.

Cheaper nearby

ZIP 33919, 3 miles away, rents for 13% less ($1,713/mo), about $3,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 33904. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$23,712/yr

At $1,976/mo median

Location

CityCape Coral

StateFL

CountyLee County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 3.7% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-3.7% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 33904 (Cape Coral, FL) is majority owner-occupied, has a large retiree population, 29.3% of residents hold a bachelor's degree or higher.

Population

33,599

Median income

$71,190

Median age

58.3

Renters

23%

Age distribution

12.2%

14%

19.7%

17.7%

36.5%

Under 1812.2%

18–3414%

35–5419.7%

55–6417.7%

65+36.5%

Gender

48.4%

51.6%

Male48.4%

Female51.6%

Race & ethnicity

79.9%

16.1%

White79.9%

Black3.6%

Hispanic16.1%

Asian1.6%

Education (25+)

33%

33.3%

29.3%

No HS diploma4.4%

HS diploma33%

Some college33.3%

Bachelor's+29.3%

Housing tenure

77%

23%

Owner77%

Renter23%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 33904 in Cape Coral, FL has changed in 5 years

Rent

$1,522 → $1,976

up 29.8%

Income

$55,026 → $71,190

up 29.4%

Population

31,594 → 33,599

up 6.3%

Renter share

23.2% → 23%

-0.2 pts

Bachelor's+

25.2% → 29.3%

+4.1 pts

Rent in ZIP 33904 in Cape Coral, FL has climbed 29.8% since 2021, going from about $1,522 per month to roughly $1,976 today. On the earnings side, the typical household in ZIP 33904 in Cape Coral, FL now reports about $71,190, up from $55,026 in 2021. Headcount in the area went from 31,594 to 33,599 between 2021 and 2024, a 6.3% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 25.2% to 29.3%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 33904 in Cape Coral, FL reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 33904

Last updated: October 17, 2026

ZIP code 33904 covers Cape Coral, FL. The median rent here is $1,976/mo as of October 2026. A 1-bedroom rents for a median of $1,690/mo. A 2-bedroom rents for a median of $2,020/mo.

At 33% of local median household income ($71,190/yr), ZIP 33904 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 3.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 33904?

To keep rent at or below 30% of gross income, you would need to earn at least $79,000/year (about $38/hour full-time) to afford the median rent of $1,976/mo in ZIP 33904. The local median household income is $71,190/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 33904?

Rent in ZIP 33904 has fallen 3.7% over the past year as of September 2026. It sits 10.1% below its high of $2,197 in January 2024.

When is the cheapest time to rent in ZIP 33904?

Asking rents in ZIP 33904 are usually lowest in April, about 1.1% below their yearly trend, and highest in December, about 1.2% above it. At today's median that is a gap of roughly $45 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 33904?

Yes. From 2019 to 2024, rent in ZIP 33904 rose 66.4% while median household income rose 37.3%, from $51,861 to $71,190. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 33904 compare to other ZIPs in Florida?

ZIP 33904 is in the middle among Florida ZIP codes for rent, ranking #384 of 656 at $1,976/mo. Over the year to September 2026, rent in ZIP 33904 changed -3.7%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.