Housing costs in Somers Point?
A typical home costs
$323,000, which is 4.5% less expensive than the national average of
$338,100 and 25.2% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Somers Point costs
$1,560 per month, which is 8.8% cheaper than the national average of
$1,710 and close to the state average of
$1,580.
Can I afford Somers Point?
To live comfortably in Somers Point (zip 08244), New Jersey, a minimum annual income of
$61,920 for a family, and
$49,600 for a single person is recommended.
What does A.I. say about Somers Point?
The cost of living in 08244 Somers Point, NJ is relatively high compared to other areas in the state. The median home value is $312,300 and the median rent is $1,388 per month. There are a variety of housing options available, however they tend to be priced higher than most other cities in New Jersey. Additionally, the cost of transportation can be a bit pricey due to the fact that it is located near major metropolitan areas like New York City and Philadelphia. The overall cost of living index is ranked at 122 out of 100, making it more expensive than most communities in the area. Despite this, the city offers plenty of amenities that can make life comfortable for those who choose to live there such as parks, restaurants and shopping centers.