This South Jersey County On List Of Highest Home Price Increases in America

We already know that 2024 is already a difficult economic environment for many Americans. The income gap is at its highest in the last five decades and in New Jersey, the household income needed to reach Middle-Class Status is at an all-time high.

On the list of the Most Expensive American Home Values, eight are in New Jersey and two are in Cape May County.  While it is no surprise that Avalon and Stone Harbor are on the list of the most expensive Zip Codes in the United States, they are not the only towns in New Jersey's southernmost county to see property prices spike.

How Much Have Cape May County Home Prices Increased

According to the latest data from the Federal Reserve of New York, Home Prices in the United States have increased by 5.5% over the last 20 years. But Cape May County Home Prices have increased by 16% over the same time frame.

From February 2023 to February 2024, Home Prices in America increased by 0.6% but Home Prices in Cape May County increased by 7.8 percent. The 20-year home price increase and 12-month home price increase in Cape May County is the highest of any of New Jersey's 21 Counties.

Cape May County is among the Top 20 United States Counties with the highest Home Price Increases over the last 20 years:

1. Mahoning, OH: 28%
2. Caroline, MD: 23.7%
3. Jones, GA: 23.4%
4. Deerborn, IN: 22.6%
5. Calumet, WI: 22.4%
6. Dubois, IN: 21.8%
7. Clinton, NY: 19.1%
8. Huntington, IN: 18.7%
9. Wayne, IN: 18.2%
10. Kent, MD: 17.8%
11. Talladega, AL: 17.6%
12. Tolland, CT: 17%
13. Sheboygan, WI: 17%
14. St. Mary, LA: 17%
15. Champaign, OH: 16.8%
16. Kennebec, Maine: 16.7%
17. Eagles, CO: 16.6%
18. Anderson, TN: 16.3%
19. Cape May County, NJ: 16%

Maybe all of this talk about rising home prices and inflation makes you feel the need for an adult beverage.  Well, you can support local small businesses when you pick up your beers from these Cape May County Craft Breweries: