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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Cape May County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Cape May County ranks #2,871 of 3,142 counties for affordability (bottom 9%)
Sourced county brief
Cape May County Monthly Owner Costs Below State Mean
Median selected monthly owner costs in Cape May County were $1,622, which is $504 lower than the New Jersey unweighted county mean of $2,126. The official B25071 Gross Rent as a Percentage of Household Income (GRAPI) for the county was 32.9%, 1.5 percentage points above the state unweighted county mean official GRAPI of 31.4%. The median gross rent was estimated at $1,360 per month, while the state unweighted county mean was $1,635. Home values in the county had a median of $434,600, compared to the state unweighted county mean of $430,014. Renter-household median income was reported at $50,917. These figures are static observations from the 2020-2024 ACS data release and do not represent financial advice. See ACS table B25088 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Cape May County
Affordability Verdict
ACS B25071 estimates median gross rent at 32.9% of renter household income in Cape May County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,360 per month; median selected monthly owner costs are $1,622. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $54,400 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New Jersey unweighted mean of county median rents is $1,635 per month. Cape May County's $1,360 median is 16.8% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Cape May County
Rent Burden
17.9%
of gross income
Max Housing (28% Rule)
$2,126
per month
Owner Cost Burden
21.4%
of gross income
The median home in Cape May County may be a stretch
Median home value is $434,600. Estimated monthly cost: $3,470 vs. your max of $2,126.
Rent Affordability Guide
Income Needed Calculator
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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
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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