Cost of Living in Ocean city, NJ
Housing
The housing market plays a significant role in determining the cost of living in Ocean city, NJ.
- Housing Index: 118.8 / 100
- Median Home Price is: $600,000
- Average Rent (2 BR Apartment): $2586 per month
- Average Rent (2 BR House): $2811 per month
In considering a move to Ocean city, NJ, the housing landscape is notably challenging. With a median home price of 600000, potential homeowners may find it difficult to enter the market. Having a housing index of 118.8 indicates a dip in overall affordability, coupled with the average rents for a 2-bedroom apartment and house both sitting at 2586 and 2811, respectively, suggesting limited rental options. Prospective residents should weigh the high housing costs against local amenities and income levels, particularly in a competitive environment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Ocean city, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $261 per month
Living in Ocean city, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $261 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Ocean city is a financially viable option for your relocation.