Ocean City, NJ Cost Of Living
Cost Of Living In Ocean City, NJ Summary
Cost of living in Ocean City research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Ocean City is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Ocean City is 150, with 100 being the average.
The cost of living index in Ocean City is 1.5x higher than the national average.
Ocean City ranks as the #202 cheapest in New Jersey out of 260.
Ocean City ranks as the #5,692 cheapest out of 6,489 in the US.
The median home value in Ocean City is $1,051,330.
The median income in Ocean City is $101,782.
Table Of Contents
Ocean City's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Ocean City, NJ?
According to the most recent data on the cost of living, Ocean City has an overall cost of living index of 150, which is 1.5x higher than the national index of 100.
Compared to New Jersey, Ocean City has a cost of living index that's 1.2x higher than New Jersey's index of 122.
The standard of living in Ocean City ranks as #202 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Ocean City ranks as the #58 most expensive place in the Garden State.
For more reading on life in Ocean City, check out:
In New Jersey
In America
Ocean City Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Ocean City. Here is how it fairs on each of the criteria:
The Services index in Ocean City is 102.
The Groceries index in Ocean City is 102.
The Health index in Ocean City is 97.
The Housing index in Ocean City is 256.
The Transportation index in Ocean City is 100.
The Utilities index in Ocean City is 108.
| Living Expense | Ocean City | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 150 | 122 | 100 | |
| Services | 102 | 108 | 100 | |
| Groceries | 102 | 104 | 100 | |
| Health | 97 | 99 | 100 | |
| Housing | 256 | 159 | 100 | |
| Transportation | 100 | 101 | 100 | |
| Utilities | 108 | 107 | 100 | |
Ocean City, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Ocean City is $1,051,330.
The Median Rent in Ocean City is $1,670.
The Median Income in Ocean City is $101,782.
The Home Value To Income in Ocean City is 10.3x.
The Rent To Monthly Income in Ocean City is 0.2x.
| Statistic | Ocean City | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $1,051,330 | $564,432 | $303,400 |
| Median Rent | $1,670 | $1,653 | $1,348 |
| Median Income | $101,782 | $101,050 | $78,538 |
| Home Value To Income | 10.3x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Ocean City, NJ Costs By Category
Detailed Ocean City Services Costs Vs. New Jersey
| Item | Ocean City | New Jersey |
|---|---|---|
| Shampoo | $1.28 | $1.28 |
| Movie | $12.4 | $12.13 |
| Bowling | $19.44 | $18 |
| Haircut | $23.17 | $24.26 |
| Beauty Salon | $52.17 | $45.56 |
Detailed Ocean City Groceries Costs Vs. New Jersey
| Item | Ocean City | New Jersey |
|---|---|---|
| Ground Beef | $6.11 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.68 | $4.67 |
| Potatoes | $5.38 | $4.93 |
| Pizza | $12.29 | $12.09 |
| Beer | $11.43 | $10.41 |
| Toothpaste | $3.59 | $3.7 |
Detailed Ocean City Health Costs Vs. New Jersey
| Item | Ocean City | New Jersey |
|---|---|---|
| Optometrist | $143.3 | $125.68 |
| Doctor | $134.5 | $135.78 |
| Dentist | $120.11 | $113.29 |
Detailed Ocean City Transportation Costs Vs. New Jersey
| Item | Ocean City | New Jersey |
|---|---|---|
| Gasoline | $3.44 | $3.46 |
| Tire Balancing | $62.39 | $59.92 |
Detailed Ocean City Utilities Costs Vs. New Jersey
| Item | Ocean City | New Jersey |
|---|---|---|
| All Electricity | $214.53 | $193.99 |
| Phone | $195.25 | $192.25 |
Ocean City SnackAbility
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