6 Teran St
GorhamME04038
Cheap Homes for Rent in Peaks Island, ME from $1,100 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Peaks Island.
86 Bacon St
BiddefordME04005
39 Smithwheel Rd
Old Orchard BeachME04064
36 Webb Field Rd
BrunswickME04011
44 School St
Old Orchard BeachME04064
2-4 ME-4
WindhamME04062
Showing Results 1-6, Page 1 of 1
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 a home in Peaks Island?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Peaks Island 2 Bedroom Homes for Rent | $2,469 | $1,595 | $3,950 |
| Peaks Island 3 Bedroom Homes for Rent | $3,101 | $2,000 | $3,750 |
| Peaks Island 4 Bedroom Homes for Rent | $3,929 | $2,400 | $6,950 |
| Peaks Island 5 Bedroom Homes for Rent | $4,325 | $3,700 | $4,950 |
Browse Top Homes for Rent in Peaks Island
Explore Peaks Island
Peaks Island, ME Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Peaks Island Apartments for Rent and Nearby
The cheapest available apartment rental in Peaks Island, ME is a 3 Beds unit found at The Bellamy in the North Deering neighborhood priced from $1,264. 645 Congress Apartments in the Downtown Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,402. Here is today’s list of the most affordable Peaks Island apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Bellamy | Mast | 3BR,1BA | $1,264 |
| 645 Congress Apartments | Studio | Studio,1BA | $1,402 |
| Tamarlane Apartments, LLC | Spruce | 2BR,2BA | $1,516 |
Best Value Apartments for Rent in Peaks Island, ME and Nearby
As of October 25, 2025 the best value apartment in the Peaks Island area is the $1.52 price per square foot Three Bedroom Townhouse Model at Island View Apartments in the in the North Deering neighborhood starting from $2,950. The second greatest value Peaks Island apartment is the The Ellsworth Model at Foreside Estates starting at $2,700 with a $2.22 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. |
|---|---|---|---|
| Island View Apartments | Three Bedroom Townhouse | 3BR,2BA | $1.52 |
| Foreside Estates | The Ellsworth | 2BR,2.5BA | $2.22 |
| Birchlane | #21 | 3BR,2BA | $2.67 |
| Summit Terrace | 2BR Balcony with WASHER/DRYER | 2BR,1BA | $2.35 |
| Back Bay Tower | 2 Bed 2 Bath | 2BR,2BA | $2.11 |
| Foxcroft Apartments, LLC | Swift | 2BR,1.5BA | $2.34 |
| Olde English Village Apartments | Two Bedroom Executive | 2BR,1BA | $1.99 |
| Waterside Apartments | 2 Bedroom 1 Bath Waterside | 2BR,1BA | $2.74 |
| The Bellamy | Mast | 3BR,1BA | $1.40 |
| Liberty Commons | THE KENNEDY | 1BR,1BA | $2.68 |
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.
Let everyone know!
Do you know the Peaks Island area?
If you’re an expert on all things Peaks Island, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Peaks Island, ME Rentals by Map
See the most popular apartments and homes in Peaks Island, ME
Frequently Asked Questions about Peaks Island
What type of rentals are currently available in Peaks Island?
There are currently 46 Apartments for Rent in Peaks Island, ME with pricing that ranges from $1,174 to $4,995. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Peaks Island ranging from $1,100 to $6,950.
What is the current price range for Rental Homes in Peaks Island?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Peaks Island ranges from $1,100 to $6,950 with an average monthly rent of $3,204.
How much are larger Three and Four Bedroom Rentals in Peaks Island?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Peaks Island range from $1,264 to $4,500, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,000 to $3,750. Four Bedroom Single-Family rentals are also available starting from $2,400 and Four Bedroom Apartments start at $2,836.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
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.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.