Cape May Point, NJ Income

The inflation-adjusted median household income in Cape May Point was $83,340, based on U.S. Census Bureau ACS estimates.
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Updated Dec 15, 2023
Overview
$83,340
Median household income
0.3848
Gini coefficient
65 years and over ($83,525)
Highest median income age group
$453,526
Income of top 5%

All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates

Age of householder

Per the latest American Community Survey by the Census Bureau, Cape May Point sees its highest median household income among householders in the age group of 65 years and over old, at $83,525. Here are the key highlights for income distribution by age:

  • In terms of income distribution across age cohorts, in Cape May Point, where there exist only two delineated age groups, the median household income is $83,525 for householders within the 65 years and over age group, compared to $69,584 for the 45 to 64 years age group.
  • Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $11,975(12.54%), declining from a median of $95,500 in 2011 to $83,525 in 2021.
  • 0 households where the householder is under 25 years old.
  • 0 households with a householder aged between 25 and 44 years.
  • 15(18.99%) households with a householder aged between 45 and 64 years.
  • 64(81.01%) households where the householder is over 65 years old.
The bar chart shows Cape May Point, NJ median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
Cape May Point, NJ median household income by age of householder: It offers a clear illustration of the differences in median household incomes in Cape May Point, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Cape May Point, NJ median household income by age ➔

Gender

In Cape May Point, the population consists of 59 males (39.33%) and 91 females (60.67%). Here are the primary highlights from the gender-based income distribution analysis:

  • In Cape May Point, while the Census reported a median income of $60,531 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
  • However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $60,261 for males, while data for females was unavailable due to an insufficient number of sample observations.
  • In Cape May Point, while the Census reported a median income of $60,531 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
  • In Cape May Point, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $60,261 for males, while data for females was unavailable due to an insufficient number of sample observations.
Line chart showing the annual median income trends in Cape May Point, NJ for males and females across four employment categories: (1) Males in full-time year-round positions, (2) Males in non-full-time roles (part-time and other employment types), (3) Females in full-time year-round positions, and (4) Females in non-full-time roles (part-time and other employment types).
Cape May Point, NJ gender based income disparity: Gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals, in 2022 inflation adjusted dollars. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

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Race

In Cape May Point, the population is predominantly White, constituting 97.33% of the total residents. Here are the key highlights from the analysis of income distribution by race:

  • The median household income for White households is $83,340.
  • In Cape May Point, White is both the largest group and the one with the highest median household income, which stands at $83,340.
  • In Cape May Point, the median household income for the households where the householder is White decreased by $5,902(6.61%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $89,242 in 2011 and $83,340 in 2021.
  • Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
The bar chart shows Cape May Point, NJ median household income across all racial categories identified by the U.S. Census Bureau.
Cape May Point, NJ median household income diversity across racial categories: Gain insights into economic disparities and trends and explore the variations in median houshold income for diverse racial categories. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

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Year by year

Cape May Point, NJ median household income trends by year, family type and household size (2010-2021):

  • From 2010 to 2021, the median household income for Cape May Point increased by $14,189 (20.52%), as per the American Community Survey estimates.
  • Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
  • The most significant year-by-year growth occured from 2010 to 2011, when the median household income increased by 20,091 (from $69,151 to $89,242). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 10,927 (from $83,061 to $72,134).
  • It then further increased to $107,010 for 2-person households, the largest household size for which the bureau reported a median household income.
  • With a Gini coefficient of 0.3848, it is evident that income distribution in Cape May Point, NJ exihibits characterstics of moderate equality .
  • For the family households, the median income (in 2022 inflation-adjusted dollars) was $107,010. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $81,744.
The line chart shows Cape May Point, NJ median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Cape May Point, NJ median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Cape May Point, NJ median household income ➔

References

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Cape May Point, NJ Demographics

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Median household income of places that contain Cape May Point (in 2022 dollars)

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