Cheap Apartments for Rent in Peaks Island, ME from $1,100 (35 Rentals)

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

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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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
  • Verified
  • Utilities Included
  • 3D Tour

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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The Bellamy
1 to 3 Bedroom Apartments

The Bellamy

240 Harvard StPortland, ME 04103

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Bayview Court
Studio to 2 Bedroom Apartments

Bayview Court

335 ForestPortland, ME 04101
  • Utilities Included

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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147 Pleasant Ave
1 to 2 Bedroom Apartments

147 Pleasant Ave

147 Pleasant AvePortland, ME 04103
  • Utilities Included
Showing Results 1-35, 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 1 Bed unit found at 645 Congress Apartments in the Downtown Portland neighborhood priced from $1,520. Forest Glen Apartments in the North Deering neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,775. Here is today’s list of the most affordable Peaks Island apartments for rent:

Apartment ListingModel NameBed/BathPriced From
645 Congress Apartments1 Bedroom1BR,1BA$1,520
Forest Glen ApartmentsForest Glen2BR,1BA$1,775
The LindenOne Bedroom1BR,1BA$1,825
Olde English Village ApartmentsTwo Bedroom Executive2BR,1BA$1,895
Foxcroft Apartments, LLCFennec2BR,1BA$1,900
North Village ApartmentsStudioStudio,1BA$1,950
Cumberland Woods Apartments1Bd1BA1BR,1BA$1,995
JM Real Estate Portland Rentals50 Monument Unit 306Studio,1BA$1,999
Redbank VillageThe Kennebunk1BR,1BA$2,009
The CascoThe Casco - Back CoveStudio,1BA$2,010

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

As of June 22, 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 THE EISENHOWER Model at Liberty Commons starting at $2,705 with a $2.40 price per square foot in the Stroudwater 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
Liberty CommonsTHE EISENHOWER2BR,2BA$2.40
Olde English Village ApartmentsTwo Bedroom Executive2BR,1BA$1.99
Foxcroft Apartments, LLCSwift2BR,1.5BA$2.05
Island View2 Bedroom Island View2BR,1BA$2.63
Winchester WoodsTwo Bedroom2BR,1BA$2.53
Forest Glen ApartmentsForest Glen2BR,1BA$2.09
Summit Terrace at Woodland2 Bed2BR,1BA$2.63
The LindenOne Bedroom1BR,1BA$2.62
645 Congress Apartments1 Bedroom1BR,1BA$2.18

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 North Village Apartments listed at $1,950.

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 $1,775 at Forest Glen Apartments.

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 $2,510.

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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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.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.