Median real estate price in the City Center of Margate City is $450,016, which is more expensive than 79.8% of the neighborhoods in New Jersey and 85.8% of the neighborhoods in the U.S.
The average rental price in Margate City City Center is currently $1,261, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.6% of New Jersey neighborhoods.
Margate City City Center is an urban neighborhood (based on population density) located in Margate City, New Jersey. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Real estate in the City Center of Margate City, NJ is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the City Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Margate City City Center. The current real estate vacancy rate here is 48.4%. This is higher than the rate of vacancies in 98.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (43.5%). 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.