Cost of Living in Cape May County, New Jersey
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Cape May County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Cape May County ranks #2,626 of 3,144 counties for affordability (bottom 16%)
Data Story
About Cost of Living in Cape May County, New Jersey
Cape May achieves rare affordability despite seasonal premium
Cape May County's rent-to-income ratio of 18.3% beats the national average of 18.5%, impressive considering the county's tourist-economy premium on housing. Median household income of $88,046 sits well above the national median of $74,755, allowing residents to absorb the $1,345 monthly rent typical of Jersey Shore communities.
Shore county ranks among New Jersey's most affordable
Cape May County's 18.3% rent-to-income ratio ranks better than New Jersey's 19.1% state average, despite being a seasonal coastal destination. The county's $1,345 median rent sits meaningfully below the state median of $1,577, offering unexpected affordability for a high-amenity shore county.
Comparable to Atlantic but with much pricier homes
Cape May's $1,345 rent nearly matches Atlantic County's $1,325, but Cape May's median home value of $395,000 runs $122,300 higher—reflecting the shore premium. Despite similar rental costs and comparable income levels, Cape May buyers face significantly steeper homeownership expenses than Atlantic County neighbors.
Renters find balance; buyers face shore country club fees
Cape May renters pay $1,345 monthly while homeowners average $1,588, a slim $243 difference uncommon in New Jersey—a reflection of the area's modest income level relative to home values. With $88,046 median household income, renters spend 18.3% on housing while homeowners reach 21.6%, a manageable gap.
Renters thrive at the Shore; buyers should negotiate carefully
If renting appeals, Cape May County delivers genuine affordability with ocean access and a tight-knit coastal community—a rare combination in New Jersey. Prospective homebuyers should note that the area's $395,000 median home prices reflect seasonal tourism demand, making it one of the state's pricier markets relative to local incomes.
Cost of Living Advisory: Cape May County
Affordability Verdict
Cape May County offers affordable rental housing at a median of $1,345/month — about 18.3% of the typical household income here.
Rent vs. Own
The median rent in Cape May County is $1,345/month, while owner costs run $1,588/month. Renting saves approximately $243/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $53,800/year. For owner costs at the 28% rule, the required income is roughly $68,057/year. With a median household income of $88,046, most households can comfortably afford rent here. Notably, 33.0% of renter households in Cape May County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Cape May County sits 7% more expensive than Cumberland County ($1,254/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Cape May County
Rent Burden
18.3%
of gross income
Max Housing (28% Rule)
$2,054
per month
Owner Cost Burden
21.6%
of gross income
The median home in Cape May County may be a stretch
Median home value is $395,000. Estimated monthly cost: $3,153 vs. your max of $2,054.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Cape May County, New Jersey?
What is the median rent in Cape May County?
Is Cape May County affordable?
How does Cape May County's rent compare to the state average?
What is the median home value in Cape May County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Cape May County, New Jersey? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Cape May County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.