Income needed to buy a home
Cape May County, NJ
$272,446
a year in household income to buy the typical Cape May County home with 10% down.
The monthly math
Typical home value$806,250
Down payment (10%)$80,625
Loan$725,625
Principal and interest (7.40%)$5,024/mo
Property tax (0.93% a year)$628/mo
Homeowners insurance (estimate)$403/mo
Mortgage insurance$302/mo
Total monthly cost$6,357/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Out of reach
The typical household here earns $91,128 a year, 33% of what it takes.
In New Jersey
Cape May County ranks #19 of 21 for the income a home takes, from least to most.
Easiest to afford in New Jersey
| County | Typical home | Income needed |
|---|---|---|
| Cumberland County | $279,277 | $105,185 |
| Salem County | $301,049 | $115,245 |
| Camden County | $359,108 | $141,049 |
| Atlantic County | $385,559 | $143,011 |
| Gloucester County | $385,868 | $150,567 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.