salaryRent is lower than in 56% of U.S. cities. A typical house costs about 4.0 years of household income.
How much money do I need?
To rent here comfortably, you should earn about $61,040 a year. That is $29 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 29 of 291 cities from cheapest to most expensive.
How much do households earn in Somers Point?
Share of households by yearly income. 22.4% of households earn $100,000 or more.
Rent by apartment size in Somers Point
| Size | Somers Point | U.S. average |
|---|---|---|
| Studio | $1,123 | $1,338 |
| 1 bedroom | $1,305 | $1,324 |
| 2 bedrooms | $1,544 | $1,509 |
| 3 bedrooms | $2,432 | $1,698 |
| 4 bedrooms | $2,377 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Somers Point 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 Somers Point, so the New Jersey figure is shown.
Taxes and bills in Somers Point
Life in Somers Point
Is it cheaper to rent or buy in Somers Point?
Renting is cheaper right now: about $619 a month less.
Owning assumes a typical $309,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,920 for the down payment.
Frequently asked questions
What is the average rent in Somers Point, NJ?
Renting in Somers Point costs a median of about $1,526 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in Somers Point?
To keep rent under 30% of income, you need about $61,040 a year, or $29 an hour at a full-time job.
Is Somers Point cheap or expensive?
Somers Point is rated OK: rent takes 23.9% of the typical household income of $76,640. It ranks 29th cheapest of 291 New Jersey cities we track.
How much are property taxes in Somers Point?
The median homeowner in Somers Point pays $6,862 a year in property taxes, about 2.22% of the median home value.
Is Somers Point 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 Somers Point?
The median home value in Somers Point is $309,200, about 4.0 times the typical yearly household income.
10,515 people live in Somers Point. Numbers are typical (middle) values.