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Cape May County Housing Market

New Jersey · 21 counties · Ranked #2904 in home value

Above National Avg

Housing at a Glance

Median Home Value

$395,000

vs national+$395,000 vs $281,900 national

Median Gross Rent

$1,345/mo

vs national+$1,345 vs $1,163 national

Effective Tax Rate

1.32%

vs national+1.32% vs 1.02% national

Median Household Income

$88,046

vs national+$88,046 vs $74,755 national

Affordability Ratio

4.5x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

33.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$5,233

Tax as % of Home Value

1.32%

Monthly Owner Cost

$1,588

Renter Income

$44,996

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Frequently Asked Questions

What is the median home value in Cape May County?

The median home value in Cape May County is $395,000. This is above the national median of $281,900.

How much is rent in Cape May County?

The median gross rent in Cape May County is $1,345 per month.

What is the property tax rate in Cape May County?

The effective property tax rate in Cape May County is 1.32%. The median annual property tax bill is $5,233.

Is Cape May County affordable?

With a home-value-to-income ratio of 4.5x, Cape May County is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.