Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Atlantic County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $294,646 | $359,215 | $242,182 |
| Price Trend (Annual %) | 3.3% | 5.3% | 8.2% |
| Median Gross Rent | $1,324 | $1,653 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Atlantic County is about 18% lower than in New Jersey. Rent is about 20% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Atlantic County, up about 3.3% and 3.3% a year respectively. Rent is changing faster.
Median rent in Atlantic County rose about 26.4% between 2015 and 2023, from $1,047 to $1,324. Over the same span, rent in New Jersey rose about 38.7%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Atlantic County.
Buying the median-priced home in Atlantic County costs roughly 18.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Atlantic County. The price-to-rent ratio in New Jersey is about 18.1.
| Metric | Atlantic County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $294,646 | $359,215 | $242,182 |
| Median Household Income | $77,237 | $101,200 | $78,145 |
| Price-to-Income Ratio | 3.8 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Atlantic County rose about 4.2%, while median household income rose about 39.3% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Atlantic County | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.8% | 58.7% | 58.2% |
| Rental Rate | 26.5% | 33.4% | 31.3% |
| Vacancy Rate | 17.7% | 7.9% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Atlantic County has a homeownership rate of 55.8%, lower than the New Jersey average of 58.7%. Its housing vacancy rate is 17.7%, compared with 7.9% in New Jersey.
Housing Stock
| Metric | Atlantic County | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.61 people | 2.54 people |
| Median Structure Built Year | 1977 | 1968 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Atlantic County was built around 1977. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Atlantic County, New Jersey.
What is the median home price in Atlantic County, New Jersey?
The median home price in Atlantic County, New Jersey is $294,646, lower than the New Jersey average of $359,215.
What is the average home price in Atlantic County, New Jersey?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Atlantic County, New Jersey?
The median gross rent in Atlantic County, New Jersey is $1,324 per month, lower than the New Jersey average of $1,653.
What was the median gross rent in Atlantic County in 2020?
In 2020, the median gross rent in Atlantic County, New Jersey was $1,129 per month.
What is the price-to-rent ratio in Atlantic County, New Jersey?
The price-to-rent ratio in Atlantic County, New Jersey is about 18.5, meaning it would take roughly 18.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Atlantic County.
Are home prices or rent rising faster in Atlantic County, New Jersey?
Both home prices and rent are rising in Atlantic County, up about 3.3% and 3.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Atlantic County, New Jersey?
55.8% of households in Atlantic County, New Jersey own their home, lower than the New Jersey average of 58.7%.
What is the vacancy rate in Atlantic County, New Jersey?
The housing vacancy rate in Atlantic County, New Jersey is 17.7%, higher than the New Jersey average of 7.9%.