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Cape May County, NJ

RANK #21 / 996  ·  POP 95,456  ·  NJ

PROJECTED GROWTH: +4.0%

Cape May County ranks among the top U.S. counties across nearly every economic indicator.

[01] Why Cape May County?

Cape May County, situated at New Jersey's southern tip, is known for its Victorian architecture in towns like Cape May City, a National Historic Landmark. The county is bordered by the Delaware Bay to the west and the Atlantic Ocean to the south and east, offering over 30 miles of beaches. It is a popular summer destination, with its population significantly increasing during these months. The Garden State Parkway provides access to the area, though public transportation options within the county are limited, with seasonal shuttles connecting the Cape May Ferry Terminal to downtown. The community offers extensive outdoor recreation, including bird watching, hiking trails, and the Cape May County Park and Zoo.

Life in Cape May County often revolves around its coastal environment. Many residents are retirees or remote workers, drawn to the area's quieter pace outside of the peak tourist season. The economy is largely driven by tourism and maritime industries, including beachfront resorts and commercial fishing. There has been investment in sectors like oyster bed enhancement, which supports local shellfisheries. The county also has a growing food-based economy with local vineyards, breweries, and farm markets. Public schools in towns like Ocean City and Middle Township are generally well-regarded.

[02] Market Snapshot

Housing Ratio
6.0x

Above national median (4.7x)

GDP Growth
+2.0%

Below national median

Home Prices
+4.6%

Outpacing national median

Climate & Terrain
0.1

Moderate climate & terrain

Price/Rent
14x

Above national median (13x)

Housing is fairly valued at 6.0x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Cape May County U.S. National

The Numbers

DEMOGRAPHICS
Population
95,456
-0.03% YoY
Median Household Income
$83,870
Median Home Value
$372,300
+4.57% 12mo
Median Rent
$1,285
Average Annual Pay
$48,574
+2.6% YoY
Employment
42,713
+0.9% YoY
Income-to-Home-Value
0.2253
Near national average
Migration Inflow
3.22%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$800,000
Days on Market
76
Slower market
Months of Supply
6.5
Buyer's market
Sale-to-List Ratio
97.3%
Negotiation room for buyers
Sold Above List
14.5%
Listings w/ Price Drops
12.9%
Building Permits (2024)
895
Single-Family Permits
660

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$175M
TOTAL
PROJECT AMOUNT STATUS
Cape May County Airport Mixed-Income Housing Development
Cape May County (in negotiation with DRBA)
$100M Proposed
Woodbine Landfill Renewable Natural Gas Facility
Waga Energy / Cape May County Municipal Utilities Authority (CMCMUA)
$50M Planned
Middle Battery Storage Project
Unknown
$25M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +2.0% 36 percentile
Population Growth -0.0% 28 percentile
Income Growth +10.0% 80 percentile
Vacancy Rate 2.4% 4 percentile
Home Price Change +4.6% 87 percentile
Rent Growth +14.1% 99 percentile
Price/Rent 14x 44 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Cape May County, NJ a good place to move to?

Cape May County has a Boom Town Index score of 98/100, ranking #21 among 996 U.S. counties. With job growth at +0.9% and a median household income of $83,870, it's an above-average county on economic indicators.

Is Cape May County affordable?

The median home value in Cape May County is $372,300 with median rent at $1,285/month. The income-to-home-value ratio is 0.2253, which is less affordable than the national average.

Is Cape May County growing or shrinking?

Population growth: -0.0% year-over-year. Job growth: +0.9%. Home values changed +4.6% in the past 12 months.

Are people moving to Cape May County?

Yes — 3.22% of Cape May County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Winnebago County, IL 100 Madison County, NY 100 Oswego County, NY 100 Valencia County, NM 100 Taylor County, TX 100 Allen County, OH 100 Newton County, MO 99 Dodge County, WI 99