Housing costs in Cape May?
A typical home costs
$657,800, which is 94.6% more expensive than the national average of
$338,100 and 52.2% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Cape May costs
$1,490 per month, which is 4.2% more than the national average of
$1,430 and 14.8% cheaper than the state average of
$1,710.
Can I afford Cape May?
To live comfortably in Cape May, New Jersey, a minimum annual income of
$126,000 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Cape May?
Cape May, NJ is an incredibly desirable place to live and visit due to its charming atmosphere and wide array of cultural attractions. However, the cost of living in this area can be quite high compared to other parts of the state. Housing prices tend to be higher than national averages, but grocery stores, gas stations, and other retail outlets are still reasonably priced. The overall cost of living is about 10% above the national average, so it is important for potential residents to consider their budgets prior to making a move.