Quick facts: Ocean gate, NJ

Quick Facts

112.9
Cost of Living
above US average
1,983
Population
16.14
Crime Rate per 1000
below US average
$67,788
Median Income
below US average
$500,000
Median House Price
above US average
$2639.29
Average Rent
above US average
Poverty rate Data is updating, will be available soon
4.2%
Unemployment Rate
above 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 $67,788.

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Income Needed to Buy

βœ— Stretch
$157k/year
Based on $500,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $157k vs median $67,788
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Income Needed to Rent

⚠ Stretch
$113k/year
Based on $2639.29/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $113k vs median $67,788
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ocean gate, NJ

Ocean Gate is a small, charming borough located in Ocean County, New Jersey. Nestled along the coastline, it offers residents and visitors a quaint, family-friendly atmosphere. The community is situated on the Barnegat Peninsula, with beautiful views of the Toms River and proximity to both the ocean and bay. Ocean Gate is known for its historic buildings and unique, well-preserved architecture, including the iconic Ocean Gate Pavilion. The borough features a small population, fostering a tight-knit community vibe. Outdoor enthusiasts can enjoy activities such as fishing, boating, and swimming, with local parks providing spaces for picnics and leisure. Events throughout the year, including summer concerts and festivals, create a lively community spirit. Ocean Gate also offers easy access to neighboring towns and larger attractions, making it a great spot for those seeking a peaceful retreat while still being close to the amenities of bigger cities like Toms River. With its serene environment and friendly atmosphere, Ocean Gate is a hidden gem along the New Jersey coast.

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