salaryRent is higher than in 50% of U.S. cities. A typical house costs about 5.4 years of household income. Most homes (90%) are owned, so rentals can be hard to find. It is a highly educated city: 57.7% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $66,200 a year. That is $32 an hour at a full-time job.
Is rent cheaper than other New Jersey cities?
Yes. Rent here is cheaper than in most of New Jersey. It is number 41 of 291 cities from cheapest to most expensive.
How much do households earn in Margate City?
Share of households by yearly income. 50.3% of households earn $100,000 or more.
Rent by apartment size in Margate City
| Size | Margate City | U.S. average |
|---|---|---|
| 2 bedrooms | $1,465 | $1,509 |
| 3 bedrooms | $2,896 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Margate City overall?
Everyday prices in New Jersey overall are 9% above the U.S. average (index 108.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Margate City, so the New Jersey figure is shown.
Taxes and bills in Margate City
Life in Margate City
Is it cheaper to rent or buy in Margate City?
Renting is cheaper right now: about $3,263 a month less.
Owning assumes a typical $708,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $70,880 for the down payment.
Frequently asked questions
What is the average rent in Margate City, NJ?
Renting in Margate City costs a median of about $1,655 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in Margate City?
To keep rent under 30% of income, you need about $66,200 a year, or $32 an hour at a full-time job.
Is Margate City cheap or expensive?
Margate City is rated Cheap: rent takes 15.1% of the typical household income of $131,361. It ranks 41st cheapest of 291 New Jersey cities we track.
How much are property taxes in Margate City?
The median homeowner in Margate City pays $7,231 a year in property taxes, about 1.02% of the median home value.
Is Margate City more expensive than the national average?
Overall prices in New Jersey are 9% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Margate City?
The median home value in Margate City is $708,800, about 5.4 times the typical yearly household income.
5,234 people live in Margate City. Numbers are typical (middle) values.