Average Rent in Cape Coral, FL↓ Rents falling 6.4% YoY

Cape Coral, FL has rental prices ranging from $1,555/month to $2,615/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,564/month — 12% above the national average of $1,400/month. With a median household income of $73,099/year, spending $1,564/month on a 1-bedroom represents 26% of gross income — within the recommended 30% threshold.

How Cape Coral Compares

With an average 2-bedroom rent of $1,835/month, Cape Coral ranks #11 most expensive of the 56 cities tracked in Florida — pricier than 95% of all US cities in our data.

The Cape Coral Rental Market

The Cape Coral, FL area has a population of about 792,692 and 26% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Cape Coral, FL have fallen by $126/month (6.4%) over the past year, from $1,961 to $1,835. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Cape Coral, FL without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $62,560. The local median household income of $73,099 exceeds that threshold by $10,539, making Cape Coral relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Cape Coral, FL is $334,660, giving a price-to-rent ratio of 15.2. The break-even point between renting and buying is roughly 15 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Cape Coral's neighborhoods. Among the highest-value areas are Entrada ($285,841 median home value), Coral Lakes ($290,479 median home value), Bella Vida ($315,893 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Cape Coral, FL Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Cape Coral?

Break-even analysis and mortgage estimates based on local market data.

Living in Cape Coral

Cost of living, job market, crime rates, and moving cost estimates.