The Cape renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in The Cape is about $1,768 per month. This puts it in the 83rd percentile compared to the city average cost of rent, which is $1,410. Households in The Cape have a median income of $7,497 per month so the average renter in The Cape is spending roughly 24% of their earnings on housing.
Nationally, and in The Cape, home values are the data point most closely correlated with the cost of rent. The median price of a home in The Cape is $269,568 right now, which is higher than nearby neighborhoods, meaning that rents in The Cape also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the western parts of The Cape while lower rent rates are often available in southwestern areas.
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