Retirement Planning in Cape May County, NJ

What does it take to retire comfortably in Cape May County? Here are the numbers.

Median Income

$83,870

Retirement Income (80%)

$67,096

Est. Nest Egg Needed

$943,550

Cost of Living Index

129

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$67,096
Est. Social Security$29,354

Annual Income Gap$37,742

Housing Costs

Median Rent$1,285/mo
Annual Housing$15,420
Property Tax Rate1.4%

Median Home Value$372,300

About Cape May County, New Jersey

Cape May County in New Jersey has a median household income of $83,870 and a homeownership rate of 78.4%. Using the 4% rule, retirees in this county would need approximately $943,550 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in New Jersey

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.