Cape May, NJ vs Milmay, NJ

The cost of living difference between Cape May, NJ and Milmay, NJ is dramatic. Milmay is 47.6% cheaper than Cape May, a gap that translates to thousands of dollars per year in household expenses. Cape May has a cost index of 133 while Milmay sits at 90, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Cape May is $1,013/month compared to $1,247/month in Milmay — a 19% difference. Interestingly, home values tell a different story: while Cape May has cheaper rent, Milmay actually has lower median home values ($235,600 vs $823,800).

Median household income in Cape May is $57,230 compared to $60,110 in Milmay (-4.8%). Milmay offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Cape May spend roughly 21.2% of their income on rent, less than the 24.9% in Milmay.