Home Insurance in Cape May, New Jersey
Homes in Cape May carry a median value of $863,900 - 99% higher than the Cape May County median.
The typical home in Cape May was built around 1973. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 38% of homes were built before 1960, about 12 points above Cape May County's 25%.
In Cape May, the housing stock is 81% single-family homes and 9% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
51% of owner-occupied homes in Cape May carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 62%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 65% of occupied homes in Cape May are owner-occupied.
55% of homes in Cape May are primarily heated with natural gas.
FEMA rates Cape May County's overall risk as Relatively Moderate, led by coastal flooding (Very High). Cape May County had 47,361 active NFIP flood policies as of September 2026. See the full Cape May County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In New Jersey, the statewide average premium for a standard HO-3 homeowners policy is $1,551 per year (NAIC, 2023 data).
Key figures
| Median home value | $863,900 |
|---|---|
| Median year built | 1973 |
| Owner-occupied share | 65% |
| Share of owner-occupied homes with a mortgage | 51% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Cape May County | 47,361 |
| Home insurance premium | $1,551 - statewide average (NAIC, 2023 data) |
Nearby towns
- West Cape May
- Cape May Point
- Wildwood Crest
- Wildwood
- West Wildwood
- North Wildwood
- Stone Harbor
- Avalon
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)