Housing costs in Ocean City?
A typical home costs
$849,300, which is 151.2% more expensive than the national average of
$338,100 and 96.6% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Ocean City costs
$1,680 per month, which is 17.5% more than the national average of
$1,430 and close to the state average of
$1,710.
Can I afford Ocean City?
To live comfortably in Ocean City, New Jersey, a minimum annual income of
$162,720 for a family, and
$51,200 for a single person is recommended.
What does A.I. say about Ocean City?
The cost of living in Ocean City, NJ is relatively high compared to the national average. The median home value in Ocean City is $611,400, which is almost double the national median of $219,700. Additionally, utilities are expensive with an index score of 122.2 compared to the U.S. average of 100 while groceries also have a higher index score of 104.3 compared to the U.S average of 100. However, this high cost of living is offset by the amenities and quality of life that Ocean City provides its residents with its multiple beaches and boardwalk activities as well as its diverse restaurants and shops.