Best Affordable Neighborhoods in Cape Coral, FL
Some of the cheapest neighborhoods in Cape Coral are Hancock, Trafalgar, and Burnt Store. These neighborhoods offer some of the lowest rent prices in Cape Coral, making them ideal for renters on a budget. As of May 7, 2026, the average rent in Cape Coral is $1,489, which is 6.8% 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.
Hancock
Average Rent
$1,444/Month
Year-Over-Year Rent Change
6.7%
Units Available
95 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Hancock. The average rent is $1,444, compared to the city average of $1,489. Rent prices have decreased by 6.7%. Hancock is convenient to Yellow Fever Creek Preserve, Punta Gorda, and Florida Southwestern State Col.
Trafalgar
Average Rent
$1,448/Month
Year-Over-Year Rent Change
10%
Units Available
84 Rentals
Trafalgar is an affordable neighborhood in Cape Coral with an average rent price of $1,448. Compare this to the city average of $1,489. In the past year, rent prices have decreased by 10%. Trafalgar provides easy access to SW Florida Coll., Ft Myers, Shops at Surfside, and Southwest Florida International.
Burnt Store
Average Rent
$1,468/Month
Year-Over-Year Rent Change
11.9%
Units Available
40 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, Burnt Store might be the perfect place! It has an average rent price of $1,468, while the city’s average stands at $1,489. In the last year, prices have decreased by 11.9%. Burnt Store is near Hodges University, Fort Myers, Four Mile Cove Ecological Preserve, and Florida Gulf Coast University.
Pelican
Average Rent
$1,514/Month
Year-Over-Year Rent Change
3.5%
Units Available
77 Rentals
Pelican is a top choice for budget-conscious renters for a variety of reasons. The average rent in Pelican is $1,514 while the city average is $1,489. This is a -3.5% difference from last year. Residents enjoy convenient access to Camelot Isles Shopping Center, Royal Crown Plaza, and Hodges University, Fort Myers.
Mariner
Average Rent
$1,539/Month
Year-Over-Year Rent Change
10%
Units Available
104 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Mariner. The average rent is $1,539, compared to the city average of $1,489. Rent prices have decreased by 10%. Mariner is convenient to Southwest Florida International, Punta Gorda, and Jaycee Park.
Diplomat
Average Rent
$1,597/Month
Year-Over-Year Rent Change
3.8%
Units Available
114 Rentals
Diplomat is an affordable neighborhood in Cape Coral with an average rent price of $1,597. Compare this to the city average of $1,489. In the past year, rent prices have decreased by 3.8%. Diplomat provides easy access to Hodges University, Fort Myers, Florida Gulf Coast University, and SW Florida Coll., Ft Myers.
Caloosahatchee
Average Rent
$1,788/Month
Year-Over-Year Rent Change
8.6%
Units Available
93 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, Caloosahatchee might be the perfect place! It has an average rent price of $1,788, while the city’s average stands at $1,489. In the last year, prices have decreased by 8.6%. Caloosahatchee is near Punta Gorda, Florida Gulf Coast University, and Jaycee Park.
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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.