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Real Estate Prices & Overview

Median real estate price in the City Center of Cape May is $1,156,423, which is more expensive than 87.4% of the neighborhoods in New Jersey and 91.4% of the neighborhoods in the U.S.

The average rental price in Cape May City Center is currently $1,822, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 95.7% of New Jersey neighborhoods.

Cape May City Center is a suburban neighborhood (based on population density) located in Cape May, New Jersey. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Real estate in the City Center of Cape May, NJ is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the City Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Cape May City Center. The current real estate vacancy rate here is 62.3%. This is higher than the rate of vacancies in 99.5% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (47.8%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Cape May, the City Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Cape May City Center neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Cape May City Center is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, despite all of the residential real estate here in the Cape May City Center neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 62.3%, which is higher than 99.5% of all U.S. neighborhoods.

Furthermore, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Cape May City Center neighborhood could be your paradise. With 32.9% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 2.8% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.5% of residents in the Cape May City Center neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.9% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Occupations

With 3.3% of employed workers living in the Cape May City Center neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 97.7% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

People

An extraordinary 10.4% of the residents of the Cape May City Center neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, if you're nearing retirement age, or in retirement, the Cape May City Center is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 10.0% of retiree-friendly neighborhoods in New Jersey, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in New Jersey.

Diversity

Did you know that the Cape May City Center neighborhood has more Welsh and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.8% of this neighborhood's residents have Welsh ancestry and 28.6% have Irish ancestry.

Cape May City Center is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.2% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the City Center neighborhood in Cape May are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 68.9% of U.S. neighborhoods. In addition, 7.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 57.4% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Cape May City Center neighborhood, 35.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 30.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.2%), and 11.8% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Cape May City Center neighborhood is English, spoken by 89.7% of households. Other important languages spoken here include Spanish and Arabic.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the City Center neighborhood in Cape May, NJ, residents most commonly identify their ethnicity or ancestry as Irish (28.6%). There are also a number of people of German ancestry (14.6%), and residents who report Italian roots (13.7%), and some of the residents are also of English ancestry (9.9%), along with some Puerto Rican ancestry residents (5.3%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Cape May City Center neighborhood spend under 15 minutes commuting one-way to work (56.4% of working residents), one of the shortest commutes across America.

Here most residents (70.4%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.3%) and 5.8% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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