Cape May, NJ is a desirable location for homeowners due to its high housing median value of $657,800. This is significantly higher than the US House Median Value of $338,100, and the 1 year house appreciation rate in Cape May is also much greater than the US rate of 8.27%, coming in at 16.42%. With such a strong housing market, it’s no wonder why so many people are eager to move into this seaside town in New Jersey.
The median home cost in Cape May is $657,800. Home appreciation the last 10 years has been 70.7%. Home Appreciation in Cape May is up 20.3%.
Average Age of Homes
- The median age of Cape May real estate is 44 years old
The Rental Market in Cape May
- Renters make up 13.9% of the Cape May population
- 10.5% of houses and apartments in Cape May, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.