Monthly housing costs in Cape Coral
| Cost | Monthly | Basis |
|---|---|---|
| Typical rent | $1,949 | Zillow Observed Rent Index, August 2026 |
| Mortgage, 10% down | $2,017 | Principal and interest on $302,200, 30 years at 7.03% |
| Mortgage, 20% down | $1,793 | Principal and interest on $268,700, 30 years at 7.03% |
Typical home value $335,800 (Zillow, August 2026). Rate: Freddie Mac 30-year average, week of September 24, 2026. Taxes, insurance and HOA/CDD fees are extra and covered below.
How expensive is Cape Coral?
Housing in Cape Coral costs less than in most of the Gulf coast cities we cover. Zillow's typical value of $335,825 is below Sarasota's $409,878 and Tampa's $377,566. The costs that push the budget up are specific to a low-lying canal city: flood insurance, windstorm cover and the per-parcel assessments on the tax bill.
| Measure | Cape Coral | Comparison |
|---|---|---|
| MIT living wage, 1 adult, pre-tax | $52,525 (Lee County) | $50,015 Sarasota County; $51,346 Hillsborough County |
| Median household income (ACS 2020 to 2024) | $78,104 (city) | $74,568 Florida; $80,734 US |
| Regular gas, AAA, September 25, 2026 | $4.46 (Fort Myers-Cape Coral) | $4.42 Florida; $4.49 US |
| Sales tax, 2026 | 6.5% | 7% Sarasota County; 7.5% Hillsborough County |
MIT's basic budget for one adult is slightly higher in Lee County than in Sarasota or Hillsborough counties, mainly because its housing, medical and transportation estimates are higher. Cape Coral's median household income is above the Florida median, so the typical rent takes a smaller share of a median paycheck here than in Sarasota.
Housing costs in Cape Coral
The table at the top of this page shows typical rent and the monthly principal and interest at 10% and 20% down. These subsections cover the rest of the cost of housing.
Buying a home
At Zillow's typical value of $335,825 and a 7.03% rate, principal and interest come to about $2,017 a month with 10% down and $1,793 with 20% down. The typical value fell 3.9% over the year and is up only 3.5% over five years, and metro homes took a mean 119 days to go pending in August 2026. Waterfront homes cost far more: compare canal types in the waterfront homes guide and the trend on the Cape Coral housing market page.
Renting
Typical rent was $1,949 a month in August 2026, up 1.0% in a year while values fell. That is about $23,400 a year, or 30% of the city's median household income. On the mortgage payment alone, buying and renting look similar, but owners also pay tax, insurance, assessments and maintenance.
Property tax
Your bill combines the city, Lee County, the school district and special districts. For fiscal 2026 the City of Cape Coral adopted an operating millage of 5.1471, plus 0.1608 mills for the parks general obligation bond. One mill is $1 per $1,000 of taxable value. For fiscal 2027 the city manager proposed the rolled-back rate of 5.1988 mills, with the final hearing set for September 24, 2026, so check the adopted rate on your TRIM notice. The Lee County property tax guide covers the county and school portions.
City assessments
Cape Coral collects several non-ad valorem assessments on the tax bill. They are charged by parcel or structure, so the homestead exemption does not reduce them.
| Assessment | Fiscal 2026 amount | How it is set |
|---|---|---|
| Fire service assessment | $529.76 for an average single-family home | $349.32 per parcel plus $3.47 per $5,000 of structure value |
| Solid waste | $384.25 per residential unit | Annual residential rate |
| Stormwater | $156 | Based on runoff, not appraised value |
Some parcels also carry a utility special assessment for water and sewer extension. The utility assessment guide explains how to check a balance.
Homeowners and flood insurance
Insurance varies too much by roof age, construction, elevation and flood zone for one city figure to be useful. The city says most residents live in a Special Flood Hazard Area, where lenders usually require flood insurance. Its Community Rating System Class 5 rating gives a 25% NFIP discount in A, AE and V zones and 10% in X zones. NFIP policies have a 30-day waiting period, so get quotes early. The flood zone guide shows how to look up a lot.
HOA and CDD fees
Most of Cape Coral was sold as individual lots, so many homes have no HOA at all. Gated communities, condos and newer developments do charge association fees, and some newer projects sit inside a community development district, such as the Cape Coral Town Center CDD, created by the city in 2023 and covering about 130 acres. See the gated communities guide.
Everyday costs in Cape Coral
Water, sewer and irrigation
City rates changed on October 1, 2026. For a standard 5/8-inch residential meter, water has a $25.36 monthly capacity charge plus $5.44 per 1,000 gallons for the first 5,000 gallons, rising in tiers to $19.00 above 20,000 gallons. Wastewater adds a $32.83 capacity charge plus $12.85 per 1,000 gallons, and irrigation is a $13.40 flat monthly rate for single-family homes.
| City of Cape Coral, 5,000 gallons a month | Monthly cost |
|---|---|
| Water (capacity charge plus usage) | $52.56 |
| Wastewater (capacity charge plus usage) | $97.08 |
| Irrigation flat rate | $13.40 |
| Total | $163.04 |
Homes still on a private well and septic system do not pay these charges but carry their own maintenance costs.
Electricity
LCEC, a member-owned cooperative, serves Cape Coral. Its residential rate has a $20.00 monthly customer charge plus $0.1129 per kWh for the first 500 kWh, $0.1206 for the next 500 and $0.1282 above 1,000 kWh. With the September 2026 power cost adjustment of $0.00892 per kWh, 1,000 kWh comes to about $146 before taxes and fees.
Groceries and food
MIT's 2026 estimate puts food at $4,603 a year for one adult in Lee County, about $384 a month, and $13,473 for two adults with two children. That is slightly below MIT's Sarasota County figures.
Transportation and gas
Most households need a car, and many commutes cross the river to Fort Myers. AAA's average for regular gas in the Fort Myers-Cape Coral area was $4.46 a gallon on September 25, 2026. MIT budgets $8,779 a year for one adult's transportation in Lee County.
Healthcare
MIT's medical estimate, covering premiums and out-of-pocket costs, is $3,235 a year for one adult and $11,696 for two adults with two children in Lee County, a little above the Sarasota County figures.
Childcare
MIT puts childcare at $9,560 a year for one child and $18,522 for two in Lee County, lower than its Sarasota County estimates of $11,523 and $22,576.
Internet and phone
MIT budgets $1,767 a year for internet and mobile service for one adult in Lee County, about $147 a month, and $2,340 for two adults. Check the FCC National Broadband Map for the providers at a specific address.
Taxes in Cape Coral
- Sales tax: 6.5%. Florida's 6% state rate plus Lee County's 0.5% discretionary surtax, which the Department of Revenue lists as running through December 31, 2028.
- No state income tax. Florida does not tax wages, pensions or retirement withdrawals.
- Property tax. City, county, school and special district millage, plus the non-ad valorem assessments above. The homestead exemption lowers taxable value for a primary residence but not the per-parcel assessments.
Voters will decide a property tax amendment on November 3, 2026. If at least 60% approve, it would raise the homestead exemption and reduce the assessment cap on non-homestead property from January 1, 2027. The larger exemption would not apply to school taxes, and nothing changes unless it passes, so budget on current rules.
Salary needed to live in Cape Coral
MIT's Living Wage Calculator, last updated in February 2026, estimates the pre-tax income needed to cover basic costs in Lee County.
| Household | Hourly living wage | Annual pre-tax income |
|---|---|---|
| 1 adult, no children | $25.25 | $52,525 |
| 1 adult, 1 child | $40.09 | $83,389 |
| 1 adult, 2 children | $49.43 | $102,824 |
| 2 adults (1 working), no children | $32.78 | $68,177 |
| 2 adults (both working), no children | $16.39 each | $68,177 |
| 2 adults (both working), 2 children | $26.74 each | $111,230 |
Here is what the typical rent ($1,949) and the 10%-down mortgage payment ($2,017, principal and interest only) take from common gross incomes:
| Gross income | Typical rent share | Mortgage P&I share |
|---|---|---|
| $50,000 | 47% | 48% |
| $75,000 | 31% | 32% |
| $100,000 | 23% | 24% |
| $150,000 | 16% | 16% |
To keep the typical rent under 30% of gross income you would need about $78,000 a year. Owners should add about $89 a month for the city's fire, solid waste and stormwater assessments, plus property tax and insurance.
Cape Coral vs nearby cities
| City | Zillow typical value, Aug 2026 | 1-year change | Zillow typical rent | Sales tax |
|---|---|---|---|---|
| Cape Coral | $335,825 | -3.9% | $1,949 | 6.5% |
| Sarasota | $409,878 | -2.7% | $2,175 | 7% |
| Tampa | $377,566 | -0.3% | $1,957 | 7.5% |
Cape Coral is the cheapest of the three to buy in and has the lowest sales tax, and its rent is close to Tampa's. Its values have also fallen fastest over the past year. Fort Myers, across the river, shares Lee County's sales tax and MIT figures, so the difference there comes down to the home, the flood zone and the tax bill.
Ways to lower your costs in Cape Coral
File for the homestead exemption
If the home is your permanent residence, file with the Lee County Property Appraiser by March 1 of the year after you buy. It lowers the taxable value for millage, though not the per-parcel city assessments.
Use the wind mitigation and grant programs
The state's My Safe Florida Home program offers free wind mitigation inspections and grants of up to $10,000 for eligible upgrades such as roof improvements, impact windows and doors, and garage door reinforcement. A current wind mitigation report can also lower a windstorm premium.
Check elevation before you buy
An elevation certificate can support a lower flood rate, and some owners can request a FEMA map change through a Letter of Map Amendment if the structure is naturally above the base flood elevation. The city's flood portal shows existing certificates for many properties.
Price the 50% rule before a renovation
In the Special Flood Hazard Area, repairs or improvements costing 50% or more of the structure's market value trigger full compliance with current flood rules. Know that threshold before you buy an older home to remodel. See is Cape Coral a good place to live and the Cape Coral relocation guide for more on choosing an area.
Common questions
Is Cape Coral expensive to live in?+
Housing is moderate by Florida coastal standards, with Zillow's typical home value at $335,825 and typical rent at $1,949 a month in August 2026. The costs that add up are homeowners and flood insurance and the city's annual assessments for fire, solid waste and stormwater, which totaled about $1,070 for an average single-family home in fiscal 2026.
How much do you need to live in Cape Coral?+
MIT's basic living wage for one adult in Lee County is $52,525 a year before tax, and $111,230 for two working adults with two children. To keep the typical $1,949 rent under 30% of gross income you would need about $78,000 a year. Owners should add property tax, insurance and about $1,070 a year in city assessments.
What is the sales tax in Cape Coral?+
The sales tax in Cape Coral is 6.5% in 2026: Florida's 6% state rate plus Lee County's 0.5% discretionary surtax, which the Florida Department of Revenue lists as running through December 31, 2028. That is lower than the 7% in Sarasota County and 7.5% in Hillsborough County.
What is the Cape Coral fire service assessment?+
It is an annual charge on the property tax bill that funds fire-rescue services. For fiscal 2026 it was $349.32 per parcel plus $3.47 for each $5,000 of structure value, which came to $529.76 for an average single-family home. Because it is not based on taxable value, the homestead exemption does not reduce it.
How much is the water bill in Cape Coral?+
From October 1, 2026, a single-family home on a standard meter pays a $25.36 water capacity charge and a $32.83 wastewater capacity charge each month, plus usage charges and a $13.40 irrigation flat rate. At 5,000 gallons a month that is about $163 before other charges. Homes on well and septic don't pay these.
Who provides electricity in Cape Coral?+
LCEC, a member-owned electric cooperative, serves Cape Coral. Its residential rate has a $20.00 monthly customer charge and tiered energy charges from $0.1129 to $0.1282 per kWh, plus a monthly power cost adjustment, which was $0.00892 per kWh in September 2026. At 1,000 kWh the bill is about $146 before taxes and fees.
Is it cheaper to live in Fort Myers or Cape Coral?+
Both cities are in Lee County, so they share the 6.5% sales tax and MIT's living wage estimates. The Census Bureau's 2020 to 2024 survey put the median owner-estimated home value at $373,500 in Cape Coral and $384,500 in Fort Myers. City taxes, utilities and flood zones differ, so compare tax bills for specific homes.
Sources
- Zillow Research: Home value, rent and market data (August 2026)
- MIT Living Wage Calculator: Lee County, Florida
- MIT Living Wage Calculator: Sarasota County, Florida
- MIT Living Wage Calculator: Hillsborough County, Florida
- Census Reporter: ACS 2020 to 2024 median household income and home value (tables B19013, B25077)
- Florida Department of Revenue: Discretionary sales surtax rates, calendar year 2026 (DR-15DSS)
- Florida Department of Revenue: Sales and use tax
- AAA: Florida gas prices by metro area (September 25, 2026)
- City of Cape Coral: City Council approves 2026 budget, lowers millage rate
- City of Cape Coral: City Manager releases FY27 proposed budget
- City of Cape Coral: FY27 budget public hearings set for September 10 and 24
- Cape Coral Breeze: Cape council lowers property tax rate, approves rollback (September 2025)
- City of Cape Coral: Tax billed assessments (non-ad valorem taxes)
- City of Cape Coral: Water, wastewater and irrigation rate schedules effective October 1, 2026
- LCEC: Rates
- City of Cape Coral: Flood protection and information
- My Safe Florida Home program
- Pinellas County Property Appraiser: Proposed 2026 property tax Amendment 3 FAQs
- Cape Coral Town Center Community Development District
- Freddie Mac: Primary Mortgage Market Survey