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City · 11,261 residents · Cape May County, New Jersey

Ocean City , New Jersey

In Ocean City, a typical home is worth $840,500 and typical rent is $1,683 a month. Compared with all of Cape May County, the typical home value is 93% higher, typical rent is 24% higher, and the share of households that own their home is 8 points lower.

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  • Typical home value

    $840,500

    93% above the county

    85% above New Jersey

    • Ocean City
    • Cape May
    • New Jersey

  • Typical rent

    $1,683a month

    24% above the county

    2% below New Jersey

    • Ocean City
    • Cape May
    • New Jersey

  • Typical household income

    $101,782a year

    12% above the county

    About the same as New Jersey

    • Ocean City
    • Cape May
    • New Jersey

  • Households that own their home

    73%

    8 points below the county

    9 points above New Jersey

    • Ocean City
    • Cape May
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$1,135,534
10.7% more than 12 months ago
Typical rent
$1,947 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Ocean City is in Cape May County. The FHA loan limit ($730,250 for a one-unit home), the fair market rents and the help on this page are those of all of Cape May County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Ocean City apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in Ocean City is worth $840,500, 93% more than in Cape May County as a whole ($434,600).

  2. Nearby, in Somers Point, the typical home value is $309,200: 63% less than in Ocean City ($840,500).

  3. According to Zillow, in the 12 months to September 2026 the typical home value in Ocean City rose 10.7%; in New Jersey, it rose 4%.

  4. Nearby, in Margate City, the typical rent is $1,347: 20% less than in Ocean City ($1,683).

  5. The typical rent in Ocean City is $1,683 a month, 24% more than in Cape May County as a whole ($1,360).

  6. 73% of households in Ocean City own their home, against 80% in Cape May County.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Ocean City

What homes there are in Ocean City, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Ocean City there is a bit of everything: no kind of home reaches half. The most common are attached houses (townhouses) (38%), more than in Cape May County (26%).

Year built

By age, homes in Ocean City look like those in Cape May County: the typical year built is 1984.

There is more room for a big family here: 79% of homes have 3 bedrooms or more, against 71% in Cape May County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,242 a month

Cape May County: $2,232 a month

Without a mortgage

$1,164 a month

Cape May County: $925 a month

Owners with a mortgage

52%

Cape May County: 59%

The typical cost for an owner with a mortgage in Ocean City is $3,242 a month, more than in Cape May County ($2,232); without one, $1,164.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Cape May County, the typical home value in Ocean City rose 46% since 2015–2019.

The typical rent in Ocean City rose 33% over the same time; in Cape May County, it rose 16%.

The typical household income in Ocean City rose 26%: less than home values (+46%) and rent (+33%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureOcean CityCape May CountyNew JerseyUnited States
Rental vacancy 36.6%26.1%3.5%5.5%
Homeowner vacancy Unreliable estimate1.6%0.7%0.9%
More than one person per room Unreliable estimate1.7%4.0%3.4%
People per household 1.972.082.622.53
Drive alone 58%73%62%69%
Carpool 8%8%8%9%
Public transit Unreliable estimate1%8%3%
Walk or bike 9%4%3%3%
Work from home 19%12%17%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

There is more rental housing open in Ocean City: 36.6% is empty and offered for rent, against 26.1% in Cape May County.

On average, a household in Ocean City has 1.97 people, fewer than in Cape May County (2.08).

Working from home is more common in Ocean City: 19%, against 12% in Cape May County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Ocean City?

A typical home costs more than the typical income allows

We start with a typical home in Ocean City, worth $840,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 80% of the typical household income in Ocean City, which is $101,782 a year. For that payment to be 28% of income, a household would need to earn about $292,156 a year. Note: at that price the loan is above the FHA limit for Cape May County ($730,250), so FHA would not insure it; the payment is only a reference.

The calculator's FHA and conventional loan limits are those of all of Cape May County.

Your numbers

Local data
$

Starts at the typical home value in Ocean City. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $29,418 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$6,817

at 7.18% · 30 years

Loan amount
$825,276
Total interest
$1,187,378
Paid off in
November 2056

Includes $14,194 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,375 a month

  • Tight

    $2,375 to $3,053 a month

  • Hard

    more than $3,053 a month

    Your payment · 80%

Compared with the typical household income in Ocean City ($101,782 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$6,817
Principal & interest$5,591
Property tax$504
Home insurance$350
FHA mortgage insurance (MIP)$372

This loan is over the FHA limit

You'd borrow $811,082, but the FHA limit for a one-unit home in Ocean City is $730,250. You'd need a bigger down payment or a different loan.

You need at least $29,418 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Ocean City and Cape May County

Ocean City is in Cape May County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Ocean City's own numbers

Typical home value
$840,500
Typical monthly rent
$1,683
Typical yearly household income
$101,782
Households that own their home
73%
Effective property tax rate
0.72%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Cape May County

FHA limit, one-unit home
$730,250
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,857
Price change over 5 years (FHFA)
+79%
Homes in a high flood-risk zone
50%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Cape May County.

Everything about Cape May County

Buying

Buying a home in Ocean City

A typical home in Ocean City is worth $840,500: 93% above the county and 85% above New Jersey. With the typical household income in Ocean City ($101,782 a year), a typical home costs 8.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Ocean City 8.3 years
  • Cape May 4.8 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Cape May County

According to FHFA’s house price index, home prices in Cape May County rose 118% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Cape May County.

Period County New Jersey U.S.
Last year (2025) +3.9% +6.2% +2.9%
5 years (2020–2025) +79% +63% +47%
10 years (2015–2025) +118% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Ocean City next to Cape May County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Ocean City $840,500
  • Cape May $434,600
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Ocean City $1,683
  • Cape May $1,360
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Ocean City $101,782
  • Cape May $91,128
  • New Jersey $103,556
  • United States $80,734
See the full table
Ocean City next to Cape May County and New Jersey
Measure Ocean City Cape May County New Jersey U.S.
Typical home value $840,500 $434,600 $454,400 $332,700
Typical monthly rent $1,683 $1,360 $1,720 $1,413
Typical yearly household income $101,782 $91,128 $103,556 $80,734
Households that own their home 73% 80% 64% 65%
Typical yearly property tax $6,040 $5,306 $9,590 $3,119
Effective property tax rate 0.72% 1.22% 2.11% 0.94%
Renters with high rent for their income 61% 55% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Cape May County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Ocean City

For a typical $840,500 home in Ocean City, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Ocean City's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $6,817a month

    Above the FHA limit for Cape May County ($730,250)
    Down payment
    $29,418
    Cash to close
    $54,633
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $372

  • Conventional, 5% down $6,663a month

    Least cash to close
    Down payment
    $42,025
    Cash to close
    $67,240
    Rate
    7.18%
    Mortgage insurance
    PMI · $399

  • Conventional, 20% down, no PMI $5,410a month

    Down payment
    $168,100
    Cash to close
    $193,315
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $6,187a month

    Down payment
    $126,075
    Cash to close
    $151,290
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is Conventional, 5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Ocean City and for Cape May County.

Property tax

Effective rate in Ocean City

0.72%of the home’s value each year

$6,040 a year for the typical owner in Ocean City.

  • Ocean City 0.72%
  • Cape May 1.22%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Cape May County

FEMA does not publish these numbers by city: they are for all of Cape May County.

Homes in the high-risk zone
50%
32,391
Of those, with NFIP insurance
74%
County New Jersey U.S.
Homes in the high-risk zone 50% 6.7% 3.5%
Of those, with NFIP insurance 74% 63% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Ocean City

Typical rent in Ocean City is $1,683 a month: 24% above the county. In Ocean City, 61% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Cape May County, by unit size. To pay the 2-bedroom one ($1,857 a month) without spending more than 30% of your income, you would need to earn $35.71 an hour working full time.

HUD fair market rent for all of Cape May County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,512 $29.08 $60,480
1 bedroom $1,521 $29.25 $60,840
2 bedrooms $1,857 $35.71 $74,280
3 bedrooms $2,431 $46.75 $97,240
4 bedrooms $2,441 $46.94 $97,640

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Ocean City

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Ocean City is in ZIP code 08226.

For 2 bedrooms it is $2,270: $413 more than the fair market rent for Cape May County ($1,857).

  • 08226 $2,270$2,970

A ZIP code counts for Ocean City when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Ocean City

HUD lists one building with rents for lower incomes in Ocean City.

  • Wesley By the Bay 2419 Bay Ave, Ocean City 08226 60 low-income homes · For older adults

See all 20 buildings in Cape May County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Ocean City

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Cape May County. The nearest ones are below; many serve by phone or online.

A man listens closely, seated at a meeting table.

HUD counseling is free or low-cost

Assistance programs in Ocean City

No down payment, repair or rent-help program on our list is for Ocean City or Cape May County. The ones below are statewide in New Jersey: they work in Ocean City the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Ocean City

The HUD-approved agencies closest to the center of Ocean City, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Navicore Solutions- Hammonton, NJ

    212 Bellevue Ave, Hammonton · 28 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (866) 472-4557

  • Financial Wellness Institute Inc

    3 S Broad St, Woodbury · 49 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 6 more
    (856) 251-0311

  • Operation Hope- Camden NJ Branch

    533 Fellowship Rd, Mount Laurel · 50 miles away

    (267) 539-8535

All counseling agencies in New Jersey

Help in Spanish near Ocean City

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Ocean City

HUD’s record names them for Ocean City or Cape May County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

2 other authorities have an office in Cape May County: see the list Source: HUD

Cities

Other cities in Cape May County

These cities are also in Cape May County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Cape May County Housing in New Jersey

Nearby cities

The cities closest to Ocean City, with the typical home value.

Neighboring counties

If Cape May County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Ocean City.

All guides
Two girls write and draw together at the living-room table.

Questions

Housing questions about Ocean City

Short answers with the numbers for Ocean City and all of Cape May County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Ocean City?

The typical home value in Ocean City is $840,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Cape May County it is $434,600.

How much does it cost to rent in Ocean City?

Typical rent in Ocean City is $1,683 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Cape May County is $1,857.

What is the FHA loan limit in Ocean City?

Ocean City uses the FHA limit for all of Cape May County (2026): $730,250 for a one-unit home and $1,404,350 for a four-unit home.

How much property tax do owners pay in Ocean City?

The typical homeowner in Ocean City pays $6,040 a year, according to the U.S. Census Bureau. That is 0.72% of the home’s value; in Cape May County, the rate is 1.22%.

Where can I find free help to buy or rent in Ocean City?

We found no HUD-approved counseling agencies with an office in Cape May County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).