Cape May, NJ
Population 2,789 · New Jersey
About Cape May, NJ
Cape May is a small community in New Jersey with a population of 2,789 residents. The median household income is $57,230 per year, which is near the national average. The median age in Cape May is 54.4 years.
Housing in Cape May has a median home value of $823,800 and median monthly rent of $1,013. Of the 3,898 total housing units, the majority are owner-occupied, with 862 owner-occupied and 507 renter-occupied units.
The unemployment rate in Cape May is 2.5% and the poverty rate is 7.5%. 50.0% of residents hold a bachelor's degree or higher. The average commute time is 17.7 minutes.
How Cape May Ranks in New Jersey
Cost of Living in Cape May, NJ
Compared to national averages, Cape May has a median household income of $57,230 (24% below the national median of $75,149). Home values average $823,800, which is 236% above the national median. Monthly rent at $1,013 is 13% below the US average of $1,163. Within New Jersey, Cape May's income is 51% below the state average of $115,667, and home values are 75% above the state median of $469,644.
Why Live in Cape May, NJ?
Cape May offers rent that’s lower than the national average at $1,013/month, and a strong job market with an unemployment rate of just 2.5%, and a well-educated community where 50.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 7.5%, better than the national average, and short commute times averaging just 17.7 minutes.
Potential considerations include median household income ($57,230) that falls below the national average, and a competitive housing market where the typical home costs $823,800. However, Cape May’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Cape May has a population of 2,789 with a median age of 54.4 years. Compare Cape May with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Cape May
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Keasbey | 2,793 | $65,948 | $328,100 | Compare |
| Clinton | 2,784 | $142,563 | $407,800 | Compare |
| Spring Lake | 2,782 | $146,976 | $2,000,001 | Compare |
| Hewitt | 2,797 | $182,516 | $436,700 | Compare |
| Pennington | 2,798 | $171,282 | $608,200 | Compare |
| Stockton University | 2,801 | $0 | $0 | Compare |
| Riverton | 2,771 | $126,818 | $354,900 | Compare |
| Pine Ridge at Crestwood | 2,756 | $61,563 | $133,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Cape May
What is the population of Cape May, NJ?
The population of Cape May, NJ is 2,789 according to the latest Census data.
What is the median household income in Cape May?
The median household income in Cape May, NJ is $57,230 per year.
What is the median home value in Cape May?
The median home value in Cape May, NJ is $823,800.
What is the average rent in Cape May?
The median monthly rent in Cape May, NJ is $1,013.
What is the unemployment rate in Cape May?
The unemployment rate in Cape May, NJ is 2.5%.