Housing costs in Cape May?
A typical home costs
$530,200, which is 56.8% more expensive than the national average of
$338,100 and 22.7% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Cape May costs
$1,520 per month, which is 6.3% more than the national average of
$1,430 and 12.5% cheaper than the state average of
$1,710.
Can I afford Cape May?
To live comfortably in Cape May (zip 08204), New Jersey, a minimum annual income of
$101,520 for a family, and
$46,400 for a single person is recommended.
What does A.I. say about Cape May?
The cost of living in 08204 Cape May, NJ is relatively high compared to other areas in the country. Property taxes are above average, as are housing costs. With a median home value of $392,000 and an average rent of $1,300 per month, it is clear that living in this area carries with it a hefty price tag. The cost of food and transportation also tend to be higher than the national average due to the larger number of restaurants and tourist attractions in the area. Overall, living in 08204 Cape May, NJ can be expensive but many locals find the cost worth it due to its unique and beautiful location near the coast.