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$1,174 - $2,793Studio to 3 Bedroom Apartments Available Jan 10, 2026
Princeton Pines
1375 Forest AvePortland, ME 04103
Cheap Apartments for Rent in Peaks Island, ME from $1,100 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in Peaks Island.
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$1,195 - $2,025Studio to 2 Bedroom Apartments Available Now
Olde English Village Apartments
503 Westbrook StSouth Portland, ME 04106
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Rent Specials
$1,200 - $2,230Studio to 1 Bedroom Apartments Available Now
645 Congress Apartments
643-649 Congress StPortland, ME 04101
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$1,500 - $2,2001 to 2 Bedroom Apartments Contact Us For Availability
Princeton on Back Cove
100 Forest ParkPortland, ME 04101
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$1,516 - $2,5001 to 2 Bedroom Apartments Contact Us For Availability
Tamarlane Apartments, LLC
46A TamarlanePortland, ME 04103
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$1,550 - $1,995Studio to 1 Bedroom Apartments Available Now
117 Lofts
117 Preble StPortland, ME 04101
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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Rent Specials
$1,589 - $3,9091 to 4 Bedroom Apartments Available Now
The Linden
132 Marginal WayPortland, ME 04101
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$1,650 - $1,8502 Bedroom Apartments Available Jan 1, 2026
Terrace Pond
723 Riverside StPortland, ME 04103
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9 Mt Vernon St
BiddefordME04005
28 Bacon St
BiddefordME04005
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Peaks Island, ME Local Guide
Sunset on the Bay by Christopher Paretti is licensed under CC BY 2.0
How much does it cost to rent an apartment in Peaks Island?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peaks Island Studio Apartments | $1,972 | $1,174 | $2,650 |
| Peaks Island 1 Bedroom Apartments | $2,263 | $1,500 | $3,349 |
| Peaks Island 2 Bedroom Apartments | $2,501 | $1,516 | $4,995 |
| Peaks Island 3 Bedroom Apartments | $2,906 | $2,175 | $4,500 |
| Peaks Island 4 Bedroom Apartments | $3,372 | $2,836 | $3,909 |
Browse Top Apartments in Peaks Island
See all Apartments in Peaks IslandExplore Peaks Island
Peaks Island, ME Local Guide
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Cheapest Available Peaks Island Apartments for Rent and Nearby
The cheapest available apartment rental in Peaks Island, ME is a Studio unit found at 645 Congress Apartments in the Downtown Portland neighborhood priced from $1,200. 117 Lofts in the Downtown Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,550. Here is today’s list of the most affordable Peaks Island apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 645 Congress Apartments | Studio | Studio,1BA | $1,200 |
| 117 Lofts | Studio | Studio,1BA | $1,550 |
| The Linden | Studio/Efficiency | 1BR,1BA | $1,589 |
| Redbank Village | The Kennebunk | 1BR,1BA | $1,724 |
| Birchlane | 10 White Birch Ln #19 | 2BR,1BA | $1,750 |
Best Value Apartments for Rent in Peaks Island, ME and Nearby
As of December 17, 2025 the best value apartment in the Peaks Island area is the $1.62 price per square foot 2 bedroom Model at 49 Berkshire Rd in the in the North Deering neighborhood starting from $3,200. The second greatest value Peaks Island apartment is the 12 White Birth Ln #24 Model at Birchlane starting at $3,000 with a $2.50 price per square foot in the North Deering neighborhood. Here is today’s list of the best values for Peaks Island apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 49 Berkshire Rd | 2 bedroom | 2BR,1.5BA | $1.62 |
| Birchlane | 12 White Birth Ln #24 | 3BR,2BA | $2.50 |
| Back Bay Tower | Townhouse | 2BR,2BA | $2.45 |
| Rumery Lofts | Two Bedroom | 2BR,1BA | $2.51 |
| Foxcroft Apartments, LLC | Swift | 2BR,1.5BA | $2.05 |
| Olde English Village Apartments | Two Bedroom Executive | 2BR,1BA | $1.99 |
| Winchester Woods | Two Bedroom | 2BR,1BA | $2.53 |
| Summit Terrace | 2 Bedroom | 2BR,1BA | $2.38 |
| Liberty Commons | THE KENNEDY | 1BR,1BA | $2.38 |
| 645 Congress Apartments | Studio | Studio ,1BA | $2.42 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
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Remember the 3 Rules of Real Estate:Location, Location, Location!
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See the most popular apartments and homes in Peaks Island, ME
Frequently Asked Questions about Cheap Peaks Island Apartments
What is the Cheapest Studio apartment in Peaks Island?
Currently the most affordable Cheap Studio Apartment in Peaks Island is at 645 Congress Apartments listed at $1,200.
How much is rent for a Cheap One Bedroom Peaks Island Apartment?
The lowest price for a Cheap One Bedroom Peaks Island Apartment is $1,375 at 645 Congress Apartments.
What is the lowest price for a Cheap Two Bedroom Peaks Island Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Peaks Island is starting from $1,750 at Birchlane.
What is the most affordable Peaks Island Three Bedroom Apartment?
The best deal on a cheap Peaks Island Three Bedroom Apartment rental is at Redbank Village and starts from $2,195.
Expert Rental Resources
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.
Articles, How-To's, and Tips
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.