Home prices
The price of the median home in Cape May is $652,900. Compared to its nearby areas it is about $305,240 (87%) higher.In comparison to the nation as a whole it is roughly $435,400 (200%) higher, and is about $489,900 (300%) higher compared to the city of Philadelphia.
Rents
The median monthly rent in Cape May is $1,009. In comparison to nearby areas it is roughly $100 (9%) lower.It is approximately $53 (4%) lower in comparison to the entire nation, and it is roughly $33 (3%) lower in comparison to the city of Philadelphia.
Nearby places
West Cape May
West Cape May is Cape May's neighbor to the west. Real estate prices there are a bit less expensive. The median home cost in West Cape May is $519,400, which comes out to $133,500 (25%) lower than Cape May. Rents there are fairly similar. In West Cape May the median monthly rent is $1,000, which is very similar to Cape May.
North Cape May
North Cape May is about 3 miles northwest of Cape May. Its real estate prices are substantially less expensive. The value of the median home in North Cape May is $234,500, which comes out to $418,400 (178%) lower than Cape May. Rent there is a bit more expensive. The median monthly rent in North Cape May is $1,269, which works out to $260 (20%) higher than Cape May.
Wildwood Crest
Wildwood Crest is roughly 3 miles northeast of Cape May. Its housing prices are substantially less expensive. The cost of the median home in Wildwood Crest is $447,800, which works out to $205,100 (45%) lower than Cape May. Rent there is pretty similar. The median rent in Wildwood Crest is $986 a month, which is $23 (2%) lower than Cape May.
Erma
Erma is approximately 3 miles north from Cape May. The housing prices there are substantially less expensive. The cost of the median home in Erma is $299,300, which comes out to $353,600 (118%) lower than Cape May. Its rents are a bit more expensive. In Erma the median monthly rent is $1,194, which works out to $185 (15%) higher than Cape May.
Wildwood
Wildwood is roughly 5 miles northeast from Cape May. The real estate prices there are a lot less expensive. The median home cost in Wildwood is $237,300, which is $415,600 (175%) lower than Cape May. The rent there is a little more expensive. Wildwood's median monthly rent is $1,096, which works out to $87 (7%) higher than Cape May.
