Most Affordable Neighborhoods in Cape Coral, FL
Some of the cheapest neighborhoods in Cape Coral are Heatherwood Lakes, Pelican, and Hancock. These neighborhoods offer some of the lowest rent prices in Cape Coral, making them ideal for renters on a budget. As of September 22, 2025, the average rent in Cape Coral is $1,526, which is 10% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Heatherwood Lakes
Average Rent
$1,458/Month
Units Available
49 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Heatherwood Lakes. The average rent is $1,458, compared to the city average of $1,526. Heatherwood Lakes is convenient to Reflections Park, Florida Gulf Coast University, and Jaycee Park.
Pelican
Average Rent
$1,467/Month
Year-Over-Year Rent Change
3.4%
TransitScore® Rating
0/100
Units Available
78 Rentals
Pelican is an affordable neighborhood in Cape Coral with an average rent price of $1,467. Compare this to the city average of $1,526. In the past year, rent prices have decreased by 3.4%. Pelican provides easy access to Camelot Isles Shopping Center, Reflections Park, and JN Darling National Wildlife Refuge. It’s a car-dependent neighborhood with a WalkScore® of 31.
Hancock
Average Rent
$1,493/Month
Year-Over-Year Rent Change
2.7%
TransitScore® Rating
1/100
Units Available
93 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, Hancock might be the perfect place! It has an average rent price of $1,493, while the city’s average stands at $1,526. In the last year, prices have decreased by 2.7%. Hancock is near Yellow Fever Creek Preserve, Hancock Square, and Reflections Park.
Trafalgar
Average Rent
$1,513/Month
Year-Over-Year Rent Change
17.8%
TransitScore® Rating
0/100
Units Available
106 Rentals
Trafalgar is a top choice for budget-conscious renters for a variety of reasons. The average rent in Trafalgar is $1,513 while the city average is $1,526. This is a -17.8% difference from last year. Residents enjoy convenient access to Hodges University, Fort Myers, Pine Island Plaza, and Florida Southwestern State Col. The neighborhood is considered car-dependent with a WalkScore® of 27.
Mariner
Average Rent
$1,537/Month
Year-Over-Year Rent Change
16.7%
TransitScore® Rating
0/100
Units Available
187 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Mariner. The average rent is $1,537, compared to the city average of $1,526. Rent prices have decreased by 16.7%. Mariner is convenient to Yellow Fever Creek Preserve, SW Florida Coll., Ft Myers, and Pine Island Marketplace. The community is car-dependent with a WalkScore® of 23.
Market Square District
Average Rent
$1,629/Month
TransitScore® Rating
0/100
Units Available
26 Rentals
Market Square District is an affordable neighborhood in Cape Coral with an average rent price of $1,629. Compare this to the city average of $1,526. Market Square District provides easy access to Reflections Park, Florida Gulf Coast University, and Hodges University, Fort Myers. It’s a walkable neighborhood with a WalkScore® of 79.
Club Square District
Average Rent
$1,637/Month
TransitScore® Rating
0/100
Units Available
25 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, Club Square District might be the perfect place! It has an average rent price of $1,637, while the city’s average stands at $1,526. Club Square District is near Cape Coral Town Center, Edison and Ford Winter Estates, and Downtown Cape Coral Development.
Burnt Store
Average Rent
$1,708/Month
Year-Over-Year Rent Change
6.9%
TransitScore® Rating
0/100
Units Available
53 Rentals
Burnt Store is a top choice for budget-conscious renters for a variety of reasons. The average rent in Burnt Store is $1,708 while the city average is $1,526. This is a -6.9% difference from last year. Residents enjoy convenient access to Southwest Florida International, Punta Gorda, and Shops at Del Mar. The neighborhood is considered car-dependent with a WalkScore® of 11.
Diplomat
Average Rent
$1,720/Month
Year-Over-Year Rent Change
10.6%
TransitScore® Rating
0/100
Units Available
92 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Diplomat. The average rent is $1,720, compared to the city average of $1,526. Rent prices have decreased by 10.6%. Diplomat is convenient to SW Florida Coll., Ft Myers, Imaginarium Hands-On Museum & Aquarium, and Yellow Fever Creek Preserve. The community is car-dependent with a WalkScore® of 26.
Caloosahatchee
Average Rent
$1,938/Month
Year-Over-Year Rent Change
5.6%
TransitScore® Rating
0/100
Units Available
122 Rentals
Caloosahatchee is an affordable neighborhood in Cape Coral with an average rent price of $1,938. Compare this to the city average of $1,526. In the past year, rent prices have decreased by 5.6%. Caloosahatchee provides easy access to Plaza Del 44, Florida Southwestern State Col, and Florida Gulf Coast University. It’s a somewhat walkable neighborhood with a WalkScore® of 64.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.