Ocean City, NJ Real Estate
According to census data in the year 2000 there were 20,298 housing units in Ocean City.
This represents a 7.5% growth from 18,880 in 1990.
Of those housing units, 20,298 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Ocean City is about 62%.
Ocean City's vacancy rate, including seasonal lodging, is about 63.2%.
Average household size is 2.02 people.
The majority of houses, apartments or condos in Ocean City were built after 1961.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.90% |
| One Bedroom | 9% |
| Two Bedrooms | 24.20% |
| Three Bedrooms | 41.50% |
| Four Bedrooms | 18.50% |
| Five Bedrooms or more | 5.80% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.22 |
| Median year structure was built | 1962 |
| Median Value of occupied units | $224,700 |
| Median Price asked for vacant units | $204,200 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.69 |
| Median year structure was built | 1960 |
| Median Monthly Rent asked for vacant units | $729 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 5.90% |
| Home Equity Loan | 7.10% |
| Simple Mortgage | 46.70% |
| Debt Free | 40.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 20.4% |
