Summit Terrace at Woodland
60 Woodland Rd,
Cape Elizabeth, ME 04107
$2,175 - $2,450
1-2 Beds
Rental Market Trends in Cape Elizabeth, ME
What is the average rent in Cape Elizabeth, ME?
$2,247/month
Average Rent
624 Sq Ft
Average Apartment Size
+12.1%
Increase in the Last Year
As of March 2026, the average rent in Cape Elizabeth, ME is $2,247 per month. This is 38% higher than the national average rent price of $1,626/month, making Cape Elizabeth one of the most expensive cities in the US. When you rent an apartment in Cape Elizabeth, you can expect to pay about $2,186 per month for a studio, $2,247 for a one-bedroom apartment, and around $2,450 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Cape Elizabeth, ME?
In the past year, rent has increased by 12.1%, which averages out to $272 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in Cape Elizabeth, ME
Last Updated March 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
100%
Above $2,000/month
What salary do I need to live comfortably in Cape Elizabeth, ME?
Because the average rent in Cape Elizabeth is $2,247, you’ll want to make about $7,490 per month or $89,880 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Cape Elizabeth, ME compare to other nearby cities and neighborhoods?
Use the tool below to compare Cape Elizabeth, ME to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.