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Lower Cape May Regional

Learn about the people, housing, costs and businesses in Lower Cape May Regional, New Jersey

Median Home$501,972
Median Rent$1,644/month
Population25,630
Leading IndustryPublic Administration29% of local workforce
Home Value Growth⬆⬆⬆+30.9% over 2 years
Retirees25% of residentswell above average
Homeowners82% of occupied units
Lower Cape May Regional
NJ

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Lower Cape May Regional?

As of today, the 30-year fixed mortgage rate for Lower Cape May Regional is approximately 6.862% (6.897% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lower Cape May Regional?

The median home value in Lower Cape May Regional is $502k. The median monthly rent is $1,644. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lower Cape May Regional?

Home values in Lower Cape May Regional have increased 30.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lower Cape May Regional?

Based on a typical all-in ownership cost of $1,475/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $63k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lower Cape May Regional is $85k/year.

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What industries drive the economy in Lower Cape May Regional?

The largest employment sectors in Lower Cape May Regional are public administration (29%) and retail (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.