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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Margate City, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Margate City, NJ Housing Market Trends

With a population of 5,216, 2,584 total housing units (homes and apartments), and a median house value of $878,559, Margate City house prices are not only among the most expensive in New Jersey, Margate City real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Margate City, accounting for 59.76% of the city's housing units. Other types of housing that are prevalent in Margate City include large apartment complexes or high rise apartments ( 24.36%), duplexes, homes converted to apartments or other small apartment buildings ( 10.14%), and a few row houses and other attached homes ( 5.74%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Margate City. Owner-occupied housing accounts for 89.66% of Margate City's homes, and 53.37% 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. Margate City's housing was primarily built during this period, from the '40s through the '60s. A full 40.15% of the city's housing hails from this era. Other housing ages represented in Margate City include homes built between 1970-1999 ( 27.04%) and housing constructed between 2000 and later ( 17.67%). There's also some housing in Margate City built before 1939 ( 15.13%).

A decent proportion of the Margate City housing stock is seasonally occupied. That is, homes and condos in Margate City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Margate City housing market speaks to its popularity as a vacation location of choice.

Margate City Home Appreciation Rates

Appreciation rates for homes in Margate City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.94%, which ranks in the top 30% nationwide. This equates to an annual average Margate City house appreciation rate of 7.39%.

Appreciation rates are so strong in Margate City that despite a nationwide downturn in the housing market, Margate City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Margate City appreciation rates continue to be some of the highest in America, at 10.64%, which is higher than appreciation rates in 96.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Margate City. Margate City appreciation rates in the latest quarter were at 1.05%, which equates to an annual appreciation rate of 4.28%.

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

Average Home Values

Median Home Value

$878,559

Margate City, NJ Home Prices
> $1,515,000
$1,136,001 - $1,515,000
$757,001 - $1,136,000
$606,001 - $757,000
$454,001 - $606,000
$303,001 - $454,000
$151,001 - $303,000
$76,001 - $151,000
$0 - $76,000
15.3%
15.3%
17.8%
17.8%
26.3%
26.3%
11.0%
11.0%
16.6%
16.6%
5.7%
5.7%
3.1%
3.1%
0.8%
0.8%
3.3%
3.3%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

2,584

Margate City Appreciation Rates

Rent & Ownership

Average Market Rent:

$943 / per month

Homeownership Rate

Owners
Renters
89.7%
89.7%
10.3%
10.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
62.3%
62.3%
37.7%
37.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.7%
17.7%
27.0%
27.0%
40.2%
40.2%
15.1%
15.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.8%
59.8%
5.7%
5.7%
10.1%
10.1%
24.4%
24.4%
0.0%
0.0%
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
2.0%
2.0%
11.8%
11.8%
19.8%
19.8%
22.5%
22.5%
30.9%
30.9%
12.9%
12.9%
0% 100.0%
% of Homes