Compare Ocean City, NJ mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Ocean City.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Ocean City. Plus, shopping lenders is free and there is no obligation.
August 10, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Ocean City. Understand how much you need to earn to afford a home in Ocean City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Ocean City fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Ocean City is right for you.
The median home value for Ocean City, NJ (Cape May County) is $430,088
Based on current mortgage rates and a 10% down payment, you need to make $89,723 per year to buy the median priced home in Ocean City
With this income, you could qualify for a $387,079 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Ocean City is $2,078
The median household income for Ocean City, NJ (Cape May County) is $79,805
Based on this income, you can afford a home valued at approximately $382,547
The home price you can afford to buy based on household income in Ocean City is 89% of the median home value which means housing prices are expensive. Ocean City (Cape May County) ranks 16 out of 21 counties in New Jersey and 2,923 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Ocean City, NJ is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Ocean City (Cape May County) below.
Conforming loan limits for Ocean City, NJ
FHA loan limits for Ocean City, NJ