Ocean City, NJ home prices
Typical home $813,023 · +9.6% in a year · income needed $240,400
The Ocean City, NJ metro area ranks 23 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +9.6% in a year and +37.3% over five years. With 20% down at 7.11%, the typical home costs about $5,609 a month including 1.22% property tax (Cape May County rate).
Mortgage on the typical Ocean City home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $162,605 | $650,418 | $4,375 | $0 | $1,234 | $5,609 | $240,400 |
| 10% down | $81,302 | $731,721 | $4,922 | $305 | $1,234 | $6,461 | $276,900 |
| 5% down | $40,651 | $772,372 | $5,196 | $322 | $1,234 | $6,751 | $289,300 |
| 3.5% down (FHA) | $28,456 | $798,297 | $5,370 | $360 | $1,234 | $6,963 | $298,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.22% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Ocean City area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Cape May County, NJ | $813,005 | +9.6% | 1.22% |
What can you afford in New Jersey on your salary? · New Jersey home prices · Salaries in New Jersey
Frequently asked questions
How much is a house in Ocean City?
The typical home in the Ocean City, NJ metro area is worth $813,023 (Zillow, September 2026).
What salary do you need to buy a house in Ocean City?
About $240,400 a year for the typical home with 20% down at 7.11%.