Cape May County is a beautiful coastal county in New Jersey. It is known for its small-town charm, beaches, and proximity to Philadelphia. The 2 bedroom rent in Cape May County averages $1,550 compared to the US average of $1,430. Additionally, grocery costs there are slightly higher than other places with an index of 110 versus 100 in the US. There are several local businesses that make up the economy of Cape May County such as Shore Medical Center, Sea Girt Lobster Company, and Nature's Harvest Marketplace. As you can see, there is much to love about living in this area!
Cape May County has an unemployment rate of 12.5%. The US average is 6.0%.
Cape May County has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 19.1%, which is lower than the US average of 33.5%.
Tax Rates for Cape May County
- The Sales Tax Rate for Cape May County is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Cape May County is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cape May County
- The average income of a Cape May County resident is $33,499 a year. The US average is $28,555 a year.
- The Median household income of a Cape May County resident is $76,237 a year. The US average is $69,021 a year.