Cost of Living in Cape May, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
143.4
100 = national avg
+43.4 vs national average
Living Wage (1 Adult)
$63,085
per year
Living Wage (Family of 4)
$149,109
per year
Cost Index by Category
Housing232.3
Food93.7
Transportation87.5
Healthcare95.0
Utilities122.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,366
per month
2 Bedroom
$1,792
per month
The overall cost of living index in Cape May is 143.4, which is 43.4% above the national average. Housing costs are above the national average at an index of 232.3. A single adult needs to earn approximately $63,085 per year to cover basic expenses.