Cape May Point, NJ Profile: Facts & Data

The Borough of Cape May Point had a population of 326 as of July 1, 2024. Cape May Point ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.

The primary coordinate point for Cape May Point is located at latitude 38.9373 and longitude -74.9693 in Cape May County. The formal boundaries for the Borough of Cape May Point encompass a land area of 0.3 sq. miles and a water area of 0.02 sq. miles. Cape May County is in the Eastern time zone (GMT -5).

The Borough of Cape May Point has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Cape May Point, NJ Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	326 (100%)
Population in Households	324 (99.4%)
Population in Families	267 (81.9%)
Population in Group Quarters¹	2 ( 0.6%)
Population Density	1,105
Diversity Index²	15


INCOME
Median Household Income	$111,817
Average Household Income	$190,250
% of Income for Mortgage⁴	55%
Per Capita Income	$88,133
Wealth Index⁵	266
Socioeconomic Status Index⁶	High (69.4)

HOUSING
Total HU (Housing Units)	629 (100%)
Owner Occupied HU	148 (23.5%)
Renter Occupied HU	3 ( 0.5%)
Vacant Housing Units	478 (76.0%)
Median Home Value	$978,261
Average Home Value	$1,027,027
Housing Affordability Index³	44

HOUSEHOLDS
Total Households	151
Average Household Size	2.15
Family Households	99
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Cape May Point, NJ - Peer Comparisons by Rank and Percentile

The table below compares Cape May Point to the other 700 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	1.58%	-1.39%
Households	-0.16%	-0.40%
Families		-0.82%
Median Household Income		-0.99%
Per Capita Income		2.62%
Owner Occupied HU		-0.55%

Variable Description	Rank	Percentile
Total Population	# 651	7th
Population Density	# 484	31st
Median Household Income	# 314	55th
Housing Affordability Index	# 67	10th
Per Capita Income	# 76	89th
Diversity Index	# 688	2nd

Cape May Point, NJ Profile: Facts & Data

Cape May Point, New Jersey - Basic Facts

Cape May Point, NJ Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Cape May Point, NJ - Peer Comparisons by Rank and Percentile

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