Summit Terrace at Woodland
60 Woodland Rd,
Cape Elizabeth, ME 04107
1-2 Beds | $2,450
Rental Market Trends in Cape Elizabeth, ME
Updated August 2026
The average rent in Cape Elizabeth, ME is $2,244/month.
Rent in Cape Elizabeth is 35% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$2,244/month
Average Rent
624 Sq Ft
Average Size
+4.9%
Change / Year
34
Available Apartments
Cape Elizabeth rent varies by unit size and layout:
- Studio apartments in Cape Elizabeth average $2,104 per month.
- One-bedroom apartments in Cape Elizabeth average $2,244 per month.
- Two-bedroom apartments in Cape Elizabeth average $2,450 per month.
- Three-bedroom apartments in Cape Elizabeth average or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Cape Elizabeth, ME?
In the past year, rent has increased by 4.9%, which averages out to $111 more per month.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in Cape Elizabeth, ME
August 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 $2,244, you’ll want to make about $7,480 per month or $89,760 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.
View the Cape Elizabeth Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Cape Elizabeth We Think You'll Love
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Frequently Asked Questions
What is the average rent in Cape Elizabeth?
The average rent in Cape Elizabeth is $2,244 per month, which is 34.9% higher than the national average of $1,663.
What is the average rent for a house in Cape Elizabeth?
The average rent for a house in Cape Elizabeth, ME is $5,545 per month.
Are rents going up or down in Cape Elizabeth?
Rents in Cape Elizabeth, ME are increasing, with prices up 4.9% year-over-year and $111 more per month.
What rent range is most common in Cape Elizabeth?
In Cape Elizabeth, ME, 100% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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 June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.