Housing costs in Margate City?
A typical home costs
$742,800, which is 119.7% more expensive than the national average of
$338,100 and 71.9% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Margate City costs
$1,840 per month, which is 7.6% more than the national average of
$1,710 and 14.1% more than the state average of
$1,580.
Can I afford Margate City?
To live comfortably in Margate City (zip 08402), New Jersey, a minimum annual income of
$142,200 for a family, and
$58,400 for a single person is recommended.
What does A.I. say about Margate City?
The cost of living in 08402 Margate City, NJ is relatively high compared to other parts of the United States. According to recent estimates, housing costs, which account for a large portion of the cost of living, are 16% higher than the national average. The estimated median home value in this area is $441,500 and has seen an annual increase of 4.9%. Other monthly costs such as groceries and transportation are also slightly above the U.S. average. The overall cost of living index in this area is 122 (the US average is 100). Though it may be more expensive to live here than some other areas, residents enjoy access to plenty of amenities including shopping centers, restaurants, beaches, parks and entertainment options.