Housing decision brief
Cape May County, NJ Housing Market
Cape May County screens as a higher purchase price, below-state rent, a manageable tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
11th lowest home value out of 21 New Jersey counties with data | 4th lowest rent out of 21
Median home value
$395,000
Purchase-price signal from Census ACS.
Median rent
$1,345/mo
Gross rent, including utilities where reported.
Monthly owner cost
$1,588/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
4.5x
Median home value divided by local household income.
Rent burden
33.0%
At or above the 30% burden threshold.
Rent vs own
$243/mo
Median rent screens below owner cost.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower rent
$1,345/mo is 13% below New Jersey county median
What to Check
Lower income base
$88,046 median income is 12% below New Jersey county median
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- No strong fit signal was available in the current dataset.
Poor Fit For
- Households dependent on a deep local wage market
- Buyers focused only on purchase price and ignoring annual property tax
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Cape May County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $395,000 | $395,000 | $281,900 | Near state medianAt the New Jersey county median |
Median gross rent Lower usually helps affordability. | $1,345 | $1,553 | $1,163 | 13% favorable13% below New Jersey county median |
Monthly owner cost Lower usually helps affordability. | $1,588 | $2,006 | $1,672 | 21% favorable21% below New Jersey county median |
Median household income | $88,046 | $99,596 | $74,755 | 12% pressure12% below New Jersey county median |
Effective property-tax rate Lower usually helps affordability. | 1.32% | 2.20% | 1.02% | 40% favorable40% below New Jersey county median |
Rent burden Lower usually helps affordability. | 33.00% | 30.00% | N/A | 10% pressure33.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$34,246
Median income minus rent threshold.
Owner cushion
+$19,989
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
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.
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Passaic County, NJ | $439,400 | $1,553/mo | Same-state comparison near $439,400 home value and $1,553/mo rent. |
| Mercer County, NJ | $351,000 | $1,515/mo | Same-state comparison near $351,000 home value and $1,515/mo rent. |
| Ocean County, NJ | $366,600 | $1,702/mo | Same-state comparison near $366,600 home value and $1,702/mo rent. |
| Warren County, NJ | $323,100 | $1,368/mo | Same-state comparison near $323,100 home value and $1,368/mo rent. |
| Worcester County, MA | $390,700 | $1,347/mo | Out-of-state peer near $390,700 home value and $1,347/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Cape May County
Is Cape May County affordable for buying a home?
Is renting or owning cheaper in Cape May County?
How much income do you need for housing in Cape May County?
What should I double-check before moving to Cape May County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.