Housing costs in Somers Point?
A typical home costs
$320,000, which is 5.4% less expensive than the national average of
$338,100 and 25.9% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Somers Point costs
$1,530 per month, which is 7.0% more than the national average of
$1,430 and 11.8% cheaper than the state average of
$1,710.
Can I afford Somers Point?
To live comfortably in Somers Point, New Jersey, a minimum annual income of
$61,200 for a family, and
$48,400 for a single person is recommended.
What does A.I. say about Somers Point?
The cost of living in Somers Point, NJ is generally considered to be lower than the national average. The median home value in the city is around $200,000 and the median monthly rent for a two-bedroom apartment is around $1,300. Property taxes are relatively low compared to other areas of New Jersey which can help offset the cost of living even further. There are also numerous grocery stores and restaurants in the area that offer competitive prices and a wide variety of items to choose from. On top of that, Somers Point has plenty of outdoor activities and beach access for residents to enjoy year-round which helps make up for any additional costs associated with living in the area.