Quick facts: Ocean city, NJ

Quick Facts

112.9
Cost of Living
above US average
11,303
Population
60.69
Crime Rate per 1000
above US average
$98,576
Median Income
above US average
$1,400,000
Median House Price
above US average
$7155.03
Average Rent
above US average
Poverty rate Data is updating, will be available soon
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $98,576.

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Income Needed to Buy

βœ— Stretch
$439k/year
Based on $1,400,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $439k vs median $98,576
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Income Needed to Rent

⚠ Stretch
$307k/year
Based on $7155.03/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $307k vs median $98,576
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ocean city, NJ

Ocean City, New Jersey, is a charming coastal resort town known for its family-friendly atmosphere and sandy beaches. Located on a barrier island, it boasts a vibrant boardwalk filled with various shops, eateries, and amusement rides, making it a popular destination for both tourists and locals. The city is renowned for its clean beaches and well-maintained parks, offering plenty of outdoor activities such as swimming, fishing, and kayaking. Ocean City is also famous for its annual events, including the Night in Venice boat parade and various music festivals that attract visitors from all over. With a strong focus on community and family values, Ocean City upholds its "dry" status, prohibiting the sale of alcohol, which contributes to its wholesome environment. The town has a charming mix of historical architecture and modern amenities, making it an appealing spot for both seasonal visitors and year-round residents. Whether you’re enjoying a day at the beach, exploring the local dining scene, or participating in festive events, Ocean City offers a delightful coastal experience.

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