Cape May, NJ, has a higher cost of living compared to the nationwide average. The overall cost of living index in Cape May stands at 115, which is 15% higher than the national average of 100. This increase is largely driven by higher housing costs, which are 30% above the average, and groceries, which are 15% higher.
Utilities and transportation costs in Cape May are slightly below the national average, while healthcare and miscellaneous expenses are moderately higher. Job seekers should consider these factors when evaluating the overall affordability of living in Cape May.
Cape May, NJ, has a higher cost of living compared to the nationwide average. The housing index in Cape May stands at 130, which is 30% higher than the national average of 100. This means that housing costs in Cape May are significantly more expensive, making it a key factor for potential residents to consider.
Other expenses in Cape May also reflect higher costs. For instance, groceries have a cost of living index of 115, which is 15% higher than the national average. Utilities, however, are slightly lower at 95, which is 5% below the national average. Transportation costs are 5% higher at 105, while healthcare costs are 10% higher at 110. Miscellaneous expenses also show a 20% increase, with an index of 120. These figures indicate that while some areas like utilities are more affordable, overall living expenses in Cape May are notably higher than the national average.
