Cape Coral rents drop 6% as supply outpaces demand | GB Daily

Rental prices in Cape Coral declined 6% year over year as an increase in available units outpaces demand. Average monthly rent is about $1,500, down from roughly $1,700 a year ago and about 8% below the national average, according to Apartments.com. The shift follows a pandemic-era surge that drove prices higher as new residents moved to Southwest Florida. With fewer people relocating and more rental inventory on the market, landlords are lowering prices to attract tenants. More affordable areas include neighborhoods near Hancock Bridge Parkway, Trafalgar Parkway and Burnt Store Road, WINK News reports.