Cost of Living,
Margate City's Real Estate Market
Atlantic City Metro Area
Profile: Beach and resort city Location: Southern New Jersey shore Elevation: 10 Time zone: Eastern Standard Time
|Nearby beaches||Cost of living|
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Atlantic City lies on a barrier island on the south coast of New Jersey. Once a popular resort area for residents of New York and Philadelphia from the 1850’s, (the street names in the board game “Monopoly” are taken from downtown streets), the city went into decline after World War II as better travel and transportation services made other destinations accessible. The return to legalized gambling in the late 1970s was a partially successful attempt to revive the earlier prominence.
Today the shore area thrives. The Boardwalk is both a historic gem and a good if somewhat crowded place to spend a morning or afternoon. The large high-rise casino properties rise abruptly on the other side of the “strip.” The economy depends almost entirely on tourism. Cost of living and housing are low on a New Jersey scale but high relative to incomes and U.S. averages. Areas along the coast to the south towards Ocean City and Cape May are more attractive, prosperous and livable and retain more of their historic feel.
Surrounding terrain is mainly flat and composed of tidal marshes and beach sand. Vegetation consists of scrub pine and low underbrush. The climate is principally continental in character. However, the moderating influence of the Atlantic Ocean is apparent throughout the year. As a result, summers are relatively cooler and winters milder than elsewhere at the same latitude. During the warm season, sea breezes in the late morning and afternoon keep temperatures in the 80’s. Precipitation is moderate and well distributed through the year. Tropical storms or hurricanes occasionally bring heavy rain. Most winter precipitation comes from coastal storms (“noreasters”) and creates a rain/snow mix. Large snow accumulations and ice storms are far less common than nearby inland locations. First freeze is late October, last is mid-April.
Interesting Facts about Margate City (zip 08402), New Jersey
As of 2014, Margate City (zip 08402)'s population is 6,459 people. Since 2000, it has had a population growth of -20.93 percent.--------------------
The median home cost in Margate City (zip 08402) is $426,100. Home appreciation the last year has been -1.70 percent.--------------------
Compared to the rest of the country, Margate City (zip 08402)'s cost of living is 55.00% Higher than the U.S. average.--------------------
Margate City (zip 08402) public schools spend $20,555 per student. The average school expenditure in the U.S. is $12,435. There are about 12.6 students per teacher in Margate City (zip 08402).--------------------
The unemployment rate in Margate City (zip 08402) is 10.30 percent(U.S. avg. is 6.30%). Recent job growth is Negative. Margate City (zip 08402) jobs have Decreased by 2.87 percent.
Ranked #123 2005 Best Places to Live
Ranked #183 Best Green Cities
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Average Commute time is 23 minutes. The National Average is 25 minutes.--------------------
Margate City (zip 08402)'s Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes
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