Cost of Living in North Cape May, NJ

With a cost of living index of 102, North Cape May, NJ is right around the national average in cost. Living here is 2% more expensive than the national average and 26% below the New Jersey state average of 128. North Cape May is a small community of 3,577 residents.

Housing costs are the biggest factor in North Cape May's cost of living. The median monthly rent is $1,331 (1% above the US median of $1,319), and the median home value sits at $323,900 (6% above the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in North Cape May is $82,198, which is 9% higher than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Atlantic City-Hammonton, NJ (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.