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 August 7, 2025, the average rent in Cape Coral is $1,529, which is 9.9% 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
$1,552/Month
Units Available
50 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, Heatherwood Lakes might be the perfect place! It has an average rent price of $1,552, while the city’s average stands at $1,529. Heatherwood Lakes is near Shops at Surfside, Florida Southwestern State Col, and Jaycee Park.
Pelican
Average Rent
$1,555/Month
Year-Over-Year Rent Change
10.5%
TransitScore® Rating
0/100
Units Available
85 Rentals
Pelican is a top choice for budget-conscious renters for a variety of reasons. The average rent in Pelican is $1,555 while the city average is $1,529. This is a -10.5% difference from last year. Residents enjoy convenient access to Florida Southwestern State Col, Iberia Center, and Hodges University, Fort Myers. The neighborhood is considered car-dependent with a WalkScore® of 31.
Hancock
Average Rent
$1,568/Month
Year-Over-Year Rent Change
3.9%
TransitScore® Rating
1/100
Units Available
99 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Hancock. The average rent is $1,568, compared to the city average of $1,529. Rent prices have decreased by 3.9%. Hancock is convenient to Lochmoor Plaza, Edison and Ford Winter Estates, and SW Florida Coll., Ft Myers. The community is car-dependent with a WalkScore® of 46.
Trafalgar
Average Rent
$1,588/Month
Year-Over-Year Rent Change
14.9%
TransitScore® Rating
0/100
Units Available
110 Rentals
Trafalgar is an affordable neighborhood in Cape Coral with an average rent price of $1,588. Compare this to the city average of $1,529. In the past year, rent prices have decreased by 14.9%. Trafalgar provides easy access to Shops at Surfside, Four Mile Cove Ecological Preserve, and Coral Shores. It’s a car-dependent neighborhood with a WalkScore® of 27.
Burnt Store
Average Rent
$1,600/Month
Year-Over-Year Rent Change
7.9%
TransitScore® Rating
0/100
Units Available
49 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 $1,600, while the city’s average stands at $1,529. In the last year, prices have decreased by 7.9%. Burnt Store is near SW Florida Coll., Ft Myers, Charlotte Flatwoods Environmental Park, and Florida Gulf Coast University.
Mariner
Average Rent
$1,612/Month
Year-Over-Year Rent Change
11.9%
TransitScore® Rating
0/100
Units Available
206 Rentals
Mariner is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mariner is $1,612 while the city average is $1,529. This is a -11.9% difference from last year. Residents enjoy convenient access to Nicholas Commons, Florida Southwestern State Col, and Edison and Ford Winter Estates. The neighborhood is considered car-dependent with a WalkScore® of 23.
Market Square District
Average Rent
$1,618/Month
TransitScore® Rating
0/100
Units Available
32 Rentals
When you’re looking for a great Cape Coral neighborhood on a budget, check out Market Square District. The average rent is $1,618, compared to the city average of $1,529. Market Square District is convenient to Florida Gulf Coast University, Reflections Park, and Rotary Park Environmental Center. The community is walkable with a WalkScore® of 79.
Club Square District
Average Rent
$1,643/Month
TransitScore® Rating
0/100
Units Available
29 Rentals
Club Square District is an affordable neighborhood in Cape Coral with an average rent price of $1,643. Compare this to the city average of $1,529. Club Square District provides easy access to Downtown Cape Coral Development, Punta Gorda, and Shops at Cape Coral. It’s a walkable neighborhood with a WalkScore® of 80.
Diplomat
Average Rent
$1,719/Month
Year-Over-Year Rent Change
10%
TransitScore® Rating
0/100
Units Available
91 Rentals
If you’re looking for a great, affordable neighborhood in Cape Coral, Diplomat might be the perfect place! It has an average rent price of $1,719, while the city’s average stands at $1,529. In the last year, prices have decreased by 10%. Diplomat is near Yellow Fever Creek Preserve, SW Florida Coll., Ft Myers, and Edison and Ford Winter Estates.
Caloosahatchee
Average Rent
$1,926/Month
Year-Over-Year Rent Change
6.1%
TransitScore® Rating
0/100
Units Available
129 Rentals
Caloosahatchee is a top choice for budget-conscious renters for a variety of reasons. The average rent in Caloosahatchee is $1,926 while the city average is $1,529. This is a -6.1% difference from last year. Residents enjoy convenient access to Florida Southwestern State Col, Southwest Florida International, and Reflections Park. The neighborhood is considered somewhat walkable 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.