What is the median home price in Margate (08402)?

The current median list price in Margate (ZIP 08402) is approximately $1337K. Prices vary based on proximity to the beach, property size, and condition. Check the market snapshot above for the latest data.

Is Margate a good place to buy a shore home?

Margate offers its own unique character within Atlantic County. Consider factors like beach access, local amenities, commute times, and rental potential. Many buyers rent in the area first to experience the community before purchasing.

How long do homes stay on the market in 08402?

Days on market in Margate varies seasonally. Summer listings often move faster due to higher buyer activity. Check the current market metrics above to see how quickly homes are selling in this area right now.

Can I rent out my property in Margate?

Rental regulations in Margate depend on local ordinances. Some shore towns welcome short-term vacation rentals while others restrict them. Contact the local municipality for current rental permit requirements and restrictions.

What are the flood insurance costs in 08402?

Flood insurance costs in Margate depend on the property's elevation, flood zone designation, and whether the structure has been elevated. Properties in high-risk zones (A or V zones) require flood insurance for federally-backed mortgages.

Margate Real Estate

Atlantic County Offers Buyer Opportunities

$1.3MMedian Price

97Listings

62Days on Market

Margate Housing Market

Margate is the residential community adjacent to Atlantic City where Philadelphia-area families have owned summer homes for generations, and where many casino industry workers live year-round. The town has its own schools, businesses, and local identity that stays intact after Labor Day, which not all shore towns can say. Lucy the Elephant, a six-story Victorian-era structure and National Historic Landmark, sits at the center of town and is part of the local fabric rather than just a tourist draw. At a $950,000 median with 82 days on market, Margate offers Atlantic County pricing with a lifestyle that holds up against more expensive towns. Buyers tend to be established Philadelphia-area families, professionals with Atlantic City connections, and a Jewish community rooted in Margate for decades. The market holds its value better than Atlantic City itself because Margate's fundamentals do not track the casino industry's cycles.

Summer is peak season for shore real estate activity. Expect competition for beachfront and ocean-view properties as seasonal buyers are most active.

Price Trends (24 Months)

Median List Price

Latest: $1.3M

Current Market Snapshot

Median Price

$1.34M

-13.5%YoY

Active Listings

Days on Market

Monthly Change

-4.9%

Compared to Atlantic County

ZIP Median Price

$1.3M

County Median

$407K

Difference

+228.3%above county avg

Market Health Indicators

Price Trend

-13.5%

Days on Market

62 days

Inventory

About Margate

Margate is a shore community in Atlantic County. Learn more about beaches, attractions, dining, and events.

Margate

Try Margate Before You Buy

Rent a vacation home to experience the neighborhood before committing — or book a hotel for a scouting trip.

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Investment Potential

Investment Calculator

Estimate your potential returns if you rent out your Margate property during summer months.

Purchase Price

Down Payment: 20%

10%$267K50%

Interest Rate: 7%

Weekly Rental Rate

Peak summer week rate

Weeks Rented/Year: 12

4 wks20 wks

Annual Summary

Gross Rental Income$48,000

Est. Expenses (30%)-$14,400

Net Rental Income$33,600

Annual Mortgage-$85,393

Property Tax (est.)-$24,066

Annual Cash Flow$-75,859

Cap Rate

0.7%

Cash-on-Cash

-28.4%

Investment Outlook

Challenging as pure investment. Negative cash flow means you would need other income or appreciation to justify. Better suited as a vacation home with some rental offset.

* Estimates only. Consult a financial advisor and research local rental regulations. Expenses estimate includes insurance, maintenance, management, and vacancy.

Nearby ZIP Codes

08203Brigantine 08401Atlantic City 08406Ventnor 08403Longport 08244Somers Point 08205Smithville

Margate Market Updates

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Margate Real Estate FAQs

What is the Margate NJ real estate market like?

Margate is a stable residential market adjacent to Atlantic City. At a $950,000 median with 82 days on market, it sits above Atlantic City but below Cape May County towns. The year-round population and community infrastructure make it more stable than purely seasonal markets.

What is Lucy the Elephant?

Lucy the Elephant is a six-story wooden elephant structure built in 1881 as a real estate promotional tool. She is a National Historic Landmark and has been restored by a local preservation society. Lucy sits on the beach in Margate and is used as a small museum and event space.

How does Margate compare to Ventnor and Longport?

Margate, Ventnor, and Longport are three connected municipalities between Atlantic City and the southern end of Absecon Island. Ventnor is the most affordable of the three. Margate is mid-range. Longport, at the southern tip, has the smallest footprint and highest prices of the three. All three have beach access and a residential character that differs from Atlantic City.

Is Margate a good place to buy a vacation home?

Yes, particularly for Philadelphia-area buyers. Margate is about 90 minutes from Philadelphia via the Atlantic City Expressway. It has a strong year-round community, beach access, and enough dining and commercial activity to make it functional outside of summer. Prices are high for Atlantic County but represent value relative to Cape May County.

Is Margate affected by Atlantic City casino volatility?

Less than you might expect. Margate's market is driven by residential buyers -- Philadelphia families, professionals, retirees -- rather than casino industry dynamics. The town's fundamentals (beach access, community stability, own school district) are independent of what happens in Atlantic City's casino corridor.

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