The town of 08204 Cape May, NJ has an average 2 bedroom rent of $1,520 compared to the US average of $1,430. In addition, the Grocery Cost Index in 08204 is 108 compared to the US index of 100. The area is known for its tourism and hospitality industry, boasting a vibrant economy with many local businesses such as Lighthouse Motel & Cottages, The Lobster House Restaurant, Cape May-Lewes Ferry, and more. With its friendly locals and sandy beaches, 08204 is an ideal place to live for those who appreciate small-town living at its best.
Cape May (zip 08204) has an unemployment rate of 12.5%. The US average is 6.0%.
Cape May (zip 08204) has seen the job market decrease by -8.5% 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 (zip 08204)
- The Sales Tax Rate for Cape May (zip 08204) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Cape May (zip 08204) 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 (zip 08204)
- The average income of a Cape May (zip 08204) resident is $41,971 a year. The US average is $37,638 a year.
- The Median household income of a Cape May (zip 08204) resident is $74,543 a year. The US average is $69,021 a year.