Cape May County, New Jersey Housing Market
In Cape May County, New Jersey, the median home value is $434,600, with a median monthly rent of $1,360. This places Cape May County at #215 nationally out of 3134 counties by median home value, and #11 within New Jersey.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $899
- Establishments: 3,982
- BLS QCEW, 2025
Housing Supply
- Single-family: 671
- Multi-family: 183
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 42,856 (avg $103,263)
- Outflow: 40,993 (avg $101,284)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Cape May County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 08260 | 564.2 | +7.69% | 2025 |
| 2 | 08230 | 270.7 | -4.75% | 2025 |
| 3 | 08242 | 278.9 | — | 2025 |
| 4 | 08251 | 523.9 | +2.15% | 2025 |
| 5 | 08204 | 450.1 | +9.63% | 2025 |
| 6 | 08223 | 286.8 | +3.13% | 2025 |
| 7 | 08210 | 310.3 | +3.72% | 2025 |
| 8 | 08226 | 450.3 | +7.91% | 2025 |
| 9 | 08243 | 280.4 | +22.75% | 2021 |
| 10 | 08202 | 315.2 | +9.13% | 2021 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Cape May County Compares
| Metric | Cape May County | New Jersey Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $434,600 | $430,014 | $227,706 |
| Median Gross Rent | $1,360 | $1,634 | $968 |
| Owner Occupancy Rate | 80.3% | 68.3% | 73.3% |
| Price/Rent Ratio | 26.6 | 21.6 | 18.7 |
Market Analysis
The median home value in Cape May County is 1.1% above the New Jersey state average and 90.9% above the U.S. national average. The median rent of $1,360/month is 16.8% below the state average.
With a price-to-rent ratio of 26.6, Cape May County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Cape May County has an owner-occupancy rate of 80.3%, compared to 68.3% in New Jersey and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Aleutians West Census Area | Alaska | $434,700 | $1,982 |
| Cherokee County | Georgia | $435,100 | $1,799 |
| Carroll County | Maryland | $434,000 | $1,427 |
| Skagway Municipality | Alaska | $435,400 | $1,280 |
| Sutter County | California | $433,500 | $1,439 |
Other Counties in New Jersey
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Passaic County | $459,500 | $1,621 | 53.1% |
| Middlesex County | $462,900 | $1,871 | 63.6% |
| Ocean County | $398,400 | $1,755 | 80.7% |
| Mercer County | $377,700 | $1,623 | 62.2% |
| Sussex County | $369,400 | $1,585 | 83.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).