Cost of Living in West Cape May, NJ

With a cost of living index of 133, West Cape May, NJ is a notably expensive place to live. Living here is 33% more expensive than the national average and 5% above the New Jersey state average of 128. West Cape May is a small community of 934 residents.

Housing costs are the biggest factor in West Cape May's cost of living. The median monthly rent is $1,352 (3% above the US median of $1,319), and the median home value sits at $698,300 (129% above the national median of $304,900). At current prices, the median home costs roughly 8.8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in West Cape May is $79,375, which is 6% higher than the national median of $75,149. Residents spend roughly 20% 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.