Cheap Apartments for Rent near Peaks Island, ME from $1,100 (37 Rentals)

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Search the lowest-cost Apartments available for rent right now in Peaks Island.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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11 Shepley St
Rent Specials
$1,850 - $2,500
Total Monthly Price

Total Monthly Price

Base Rent
$1,850 - $2,500
Total Monthly Price
$1,850 - $2,500
1 Bedroom Apartments Available Sep 1

11 Shepley St

11 Shepley StPortland, ME 04101
Furnished
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  • Utilities Included
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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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The Bellamy
1 to 3 Bedroom Apartments

The Bellamy

240 Harvard StPortland, ME 04103
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Bayview Court
Studio to 2 Bedroom Apartments

Bayview Court

335 ForestPortland, ME 04101
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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147 Pleasant Ave
1 to 2 Bedroom Apartments

147 Pleasant Ave

147 Pleasant AvePortland, ME 04103
  • Utilities Included
Showing Results 1-37, Page 1 of 1

Peaks Island, ME Local Guide

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 $1,500. Redbank Village in the South Portland neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,890. Here is today’s list of the most affordable Peaks Island apartments for rent:

Apartment ListingModel NameBed/BathPriced From
645 Congress ApartmentsStudioStudio,1BA$1,500
Redbank VillageThe Kennebunk1BR,1BA$1,890
Olde English Village ApartmentsTwo Bedroom Executive2BR,1BA$1,895
Cumberland Woods Apartments1Bd1BA1BR,1BA$1,895
Foxcroft Apartments, LLCFennec2BR,1BA$1,900
North Village ApartmentsStudioStudio,1BA$1,950
Foreside EstatesThe Beacon1BR,1BA$2,000
The LindenOne Bedroom1BR,1BA$2,000
The ArmatureStudio Floor Plan AStudio,1BA$2,025
Summit Terrace2 Bed2BR,1BA$2,079

Best Value Apartments for Rent in Peaks Island, ME and Nearby

As of August 08, 2026 the best value apartment in the Peaks Island area is the $2.50 price per square foot 12 White Birth Ln #24 Model at Birchlane in the in the North Deering neighborhood starting from $3,000. The second greatest value Peaks Island apartment is the Studio Model at 46 Market St starting at $2,627 with a $2.50 price per square foot in the Downtown Portland neighborhood. Here is today’s list of the best values for Peaks Island apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Birchlane12 White Birth Ln #243BR,2BA$2.50
46 Market StStudioStudio ,1BA$2.50
Foxcroft Apartments, LLCSwift2BR,1.5BA$2.05
Olde English Village ApartmentsTwo Bedroom Executive2BR,1BA$1.99
Island View2 Bedroom Island View2BR,1BA$2.63
Cumberland Woods Apartments2BD1BA2BR,1BA$2.63
Winchester WoodsTwo Bedroom2BR,1BA$2.53
Summit Terrace2 Bed2BR,1BA$2.31
Liberty CommonsTHE KENNEDY1BR,1BA$2.75
Foreside EstatesThe Beacon1BR,1BA$2.70

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle

Ranked #

Among cities in Maine for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Peaks Island, ME Rentals by Map

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See the most popular apartments and homes in Peaks Island, ME

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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 $1,500.

How much is rent for a Cheap One Bedroom Peaks Island Apartment?

The lowest price for a Cheap One Bedroom Peaks Island Apartment is $1,520 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 $1,895 at Olde English Village Apartments.

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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.