Best Affordable Neighborhoods in Cape Coral, FL
Some of the cheapest neighborhoods in Cape Coral are Pelican, Trafalgar, and Hancock. These neighborhoods offer some of the lowest rent prices in Cape Coral, making them ideal for renters on a budget. As of March 23, 2026, the average rent in Cape Coral is $1,495, which is 13% 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.
Pelican
Average Rent
$1,442/Month
Year-Over-Year Rent Change
19.2%
Units Available
83 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Pelican. The average rent is $1,442, compared to the city average of $1,495. Rent prices have decreased by 19.2%. Pelican is convenient to Iberia Center, Southwest Florida International, and Royal Crown Plaza.
Trafalgar
Average Rent
$1,487/Month
Year-Over-Year Rent Change
19.3%
Units Available
95 Rentals
Trafalgar is an affordable neighborhood in Cape Coral with an average rent price of $1,487. Compare this to the city average of $1,495. In the past year, rent prices have decreased by 19.3%. Trafalgar provides easy access to Yellow Fever Creek Preserve, SW Florida Coll., Ft Myers, and Four Mile Cove Ecological Preserve.
Hancock
Average Rent
$1,520/Month
Year-Over-Year Rent Change
9%
Units Available
92 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 $1,520, while the city’s average stands at $1,495. In the last year, prices have decreased by 9%. Hancock is near Punta Gorda, Yellow Fever Creek Preserve, and Hancock Square.
Mariner
Average Rent
$1,560/Month
Year-Over-Year Rent Change
12.9%
Units Available
125 Rentals
Mariner is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mariner is $1,560 while the city average is $1,495. This is a -12.9% difference from last year. Residents enjoy convenient access to Yellow Fever Creek Preserve, Florida Gulf Coast University, and Hodges University, Fort Myers.
Burnt Store
Average Rent
$1,572/Month
Year-Over-Year Rent Change
8.2%
Units Available
41 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Burnt Store. The average rent is $1,572, compared to the city average of $1,495. Rent prices have decreased by 8.2%. Burnt Store is convenient to SW Florida Coll., Ft Myers, Punta Gorda, and Yellow Fever Creek Preserve.
Diplomat
Average Rent
$1,645/Month
Year-Over-Year Rent Change
9.3%
Units Available
111 Rentals
Diplomat is an affordable neighborhood in Cape Coral with an average rent price of $1,645. Compare this to the city average of $1,495. In the past year, rent prices have decreased by 9.3%. Diplomat provides easy access to Punta Gorda, Florida Southwestern State Col, and Shoppes at North Cape.
The Villages at Entrada
Average Rent
$1,695/Month
Units Available
13 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, The Villages at Entrada might be the perfect place! It has an average rent price of $1,695, while the city’s average stands at $1,495. The Villages at Entrada is near Hodges University, Fort Myers, Edison and Ford Winter Estates, and Entrada Plaza.
Caloosahatchee
Average Rent
$1,828/Month
Year-Over-Year Rent Change
12.2%
Units Available
112 Rentals
Caloosahatchee is a top choice for budget-conscious renters for a variety of reasons. The average rent in Caloosahatchee is $1,828 while the city average is $1,495. This is a -12.2% difference from last year. Residents enjoy convenient access to Reflections Park, Punta Gorda, and Edison and Ford Winter Estates.
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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.