89 / 100

Cape May County, NJ

Lower

RANK #113 / 996 NAT  ·  #1 / 21 NJ  ·  POP 95,456

1YR FORECAST: +5.0%

5YR OUTLOOK: +35%

Our model projects Cape May County's housing market to grow +5.0% over the next year, significantly outpacing the national average.

[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] Top Employers

  1. 1
    Cape May County Government Government
    5,000+
  2. 2
    Cape May County School Districts Education
  3. 3
    Cape Regional Medical Center Healthcare
    1,000+
  4. 4
    Walmart Retail
    500+
  5. 5
    Lund's Fisheries Agriculture
    250+
  6. 6
    Ocean First Bank Finance
    100+
  7. 7
    The Home Depot Retail
  8. 8
    Lowe's Home Improvement Retail
  9. 9
    CVS Health Healthcare
  10. 10
    Marquis de Lafayette Hotel Hospitality

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[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
Bachelor's Degree+
35.9%
of residents (national avg: 33%)

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] Crime & Safety

B+
SAFETY
GRADE
Firearm Fatalities
6.6
per 100K · nat avg 14.8
Injury Deaths
114.5
per 100K · nat avg 76.3
vs National Average
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] 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.

[07] 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.

[08] Frequently Asked Questions

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

Cape May County ranks #113 out of 996 U.S. counties on the Boom Town Index with a score of 89/100, putting it in the top tier nationally. Job growth of +0.9% and a median household income of $83,870 point to a county with active economic momentum.

Is Cape May County affordable?

Cape May County leans toward the expensive side. A median home value of $372,300 against an income-to-home-value ratio of 0.23 means housing eats a bigger share of local earnings than the national norm. Renters face $1,285/month on average.

Is Cape May County growing or shrinking?

Population and employment in Cape May County are both close to flat — population -0.0% YoY and jobs +0.9%. Home values shifted +4.6% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.

Are people moving to Cape May County?

There's a moderate stream of newcomers. About 3.22% of residents moved from another state, which is above average and suggests Cape May County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.

[09] Similar Counties by Size & Score

Salem County, NJ 84 Passaic County, NJ 70 Camden County, NJ 65 Gloucester County, NJ 65 Atlantic County, NJ 58 Union County, NJ 50 Lapeer County, MI 89 Wood County, WI 89