Asbury Park, NJ vs Margate City, NJ

Asbury Park, NJ and Margate City, NJ have a very similar cost of living, with only a 2.4% difference in their overall index. Asbury Park scores 132 while Margate City scores 129 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Asbury Park is $1,679/month compared to $1,368/month in Margate City — a 23% difference. Interestingly, home values tell a different story: while Margate City has cheaper rent, Asbury Park actually has lower median home values ($508,800 vs $645,200).

Median household income in Asbury Park is $71,080 compared to $114,417 in Margate City (-37.9%). Margate City offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Asbury Park spend roughly 28.3% of their income on rent, more than the 14.3% in Margate City.