
Cheap Apartments for Rent in Cape Elizabeth, ME from $800 (14 Rentals)
Search the lowest-cost Apartments available for rent right now in Cape Elizabeth.


Summit Terrace
Cape Elizabeth, ME Local Guide

How much does it cost to rent an apartment in Cape Elizabeth?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Cape Elizabeth 1 Bedroom Apartments | $1,981 | $1,975 | $2,000 |
Cape Elizabeth 2 Bedroom Apartments | $2,401 | $2,145 | $2,950 |
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Cape Elizabeth, ME Local Guide
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Cheapest Available Cape Elizabeth Apartments for Rent and Nearby
 Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Summit Terrace at Woodland | Junior One Bedroom Newly Renovated | 1BR,1BA | $1,693 |
Summit Terrace | 2BR Balcony | 2BR,1BA | $2,207 |
Best Value Apartments for Rent in Cape Elizabeth, ME and Nearby
As of March 28, 2025 the best value apartment in the Cape Elizabeth area is the $2.32 price per square foot 2BR Balcony Model at Summit Terrace in the in the Downtown Portland neighborhood starting from $2,207. The second greatest value Cape Elizabeth apartment is the 248 Preble St Model at 248 Preble St, Unit #2 starting at $2,000 with a $3.33 price per square foot . Here is today’s list of the best values for Cape Elizabeth apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Summit Terrace | 2BR Balcony | 2BR,1BA | $2.32 |
248 Preble St, Unit #2 | 248 Preble St | 1BR,1BA | $3.33 |
Summit Terrace at Woodland | Junior One Bedroom Newly Renovated | 1BR,1BA | $3.63 |
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Best Local Schools in Cape Elizabeth, ME
Cape Elizabeth Middle School
School data provided by Great Schools
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Getting Around Cape Elizabeth, ME
Walk Score®
36 / 100
Car-Dependent
Most errands require a car
Bike Score®
54 / 100
Bikeable
Some bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Cape Elizabeth Apartments
What is the lowest price for a Cheap Two Bedroom Cape Elizabeth Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Cape Elizabeth is starting from $2,207 at Summit Terrace.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.