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Cape May Court House, NJ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cape May Court House, NJ Housing Market Trends

With a population of 5,573, 2,329 total housing units (homes and apartments), and a median house value of $418,291, Cape May Court House real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cape May Court House, accounting for 74.34% of the town's housing units. Other types of housing that are prevalent in Cape May Court House include duplexes, homes converted to apartments or other small apartment buildings ( 10.03%), mobile homes or trailers ( 7.26%), and a few row houses and other attached homes ( 6.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cape May Court House. Owner-occupied housing accounts for 68.26% of Cape May Court House's homes, and 60.57% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cape May Court House's housing was primarily built during this period, from the '40s through the '60s. A full 35.09% of the town's housing hails from this era. Other housing ages represented in Cape May Court House include homes built between 1970-1999 ( 32.66%) and housing constructed between 2000 and later ( 22.60%). There's also some housing in Cape May Court House built before 1939 ( 9.65%).

Vacant housing appears to be an issue in Cape May Court House. Fully 12.87% of the housing stock is classified as vacant. Left unchecked, vacant Cape May Court House homes and apartments can be a drag on the real estate market, holding Cape May Court House real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cape May Court House Home Appreciation Rates

Real estate appreciation rates in Cape May Court House's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.55% during the period.

Appreciation rates are so strong in Cape May Court House that despite a nationwide downturn in the housing market, Cape May Court House real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cape May Court House appreciation rates continue to be some of the highest in America, at 16.40%, which is higher than appreciation rates in 85.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cape May Court House. Cape May Court House appreciation rates in the latest quarter were at 1.14%, which equates to an annual appreciation rate of 4.65%.

Relative to New Jersey, our data show that Cape May Court House's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$418,291

Cape May Court House, NJ HOME PRICES

> $1,512,000
$1,134,001 - $1,512,000
$756,001 - $1,134,000
$605,001 - $756,000
$453,001 - $605,000
$302,001 - $453,000
$151,001 - $302,000
$75,001 - $151,000
$0 - $75,000
0.9%
0.9%
0.0%
0.0%
7.1%
7.1%
15.0%
15.0%
20.3%
20.3%
31.5%
31.5%
20.0%
20.0%
1.1%
1.1%
4.1%
4.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
2,329

Cape May Court House Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared To
NJ
Compared To
America
Latest Quarter:
2022 Q3 - 2022 Q4
Last 12 Months:
2021 Q4 - 2022 Q4
Last 2 Years:
2020 Q4 - 2022 Q4
Last 5 Years:
2017 Q4 - 2022 Q4
Last 10 Years:
2012 Q4 - 2022 Q4
Since 2000:
2000 Q1 - 2022 Q4
150.35% 4.07%
9
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,305 / per month

Homeownership Rate

Owners
Renters
Vacant
68.3%
68.3%
31.7%
31.7%
12.9%
12.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.6%
22.6%
32.7%
32.7%
35.1%
35.1%
9.7%
9.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.3%
74.3%
6.1%
6.1%
10.0%
10.0%
2.3%
2.3%
7.3%
7.3%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
3.4%
3.4%
32.1%
32.1%
46.9%
46.9%
13.7%
13.7%
2.4%
2.4%
0.0% 100.0%
% OF HOMES