NJShore Guide

08402 Real Estate

Margate Housing Market

$1.5MMedian Price
71Listings
80Days on Market

Margate Housing Market (08402)

Buyers may find more negotiating room in Atlantic County, where prices have dipped 3.5% year-over-year. The median list price is $1.50 million, with homes averaging 80 days on market. Patient buyers can take their time to find the right property.

This is one of the most expensive shore markets, with prices running about 265% above the shore-wide median. Expect luxury properties and premium beach access.

Winter is typically the slowest season for shore real estate. Serious sellers may be more flexible on price during these months.

Price Trends (24 Months)

$1.3M$1.6M$1.8M$2.1M$2.3MFeb '24Jun '24Oct '24Feb '25Jun '25Oct '25Jan '26
Median List Price
Latest: $1.5M

Current Market Snapshot

Median Price
$1.50M
-3.5%YoY
Active Listings
71
Days on Market
80
Monthly Change
-4.3%

Compared to Atlantic County

ZIP Median Price
$1.5M
County Median
$410K
Difference
+264.6%above county avg

Market Health Indicators

Price Trend
-3.5%
Days on Market
80 days
Inventory
71

About Margate

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

Margate

Try Before You Buy in Margate

Considering a move to 08402? Rent a vacation home first to experience the neighborhood and lifestyle before committing.

Browse Vacation Rentals

Investment Potential

Investment Calculator

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

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10%$299K50%
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Peak summer week rate

4 wks20 wks

Annual Summary

Gross Rental Income$54,000
Est. Expenses (30%)-$16,200
Net Rental Income$37,800
Annual Mortgage-$95,484
Property Tax (est.)-$26,910
Annual Cash Flow$-84,594
Cap Rate
0.7%
Cash-on-Cash
-28.3%

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

08203Brigantine08401Atlantic City08406Ventnor08403Longport08244Somers Point08205Smithville

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08402 Real Estate FAQs

What is the median home price in Margate (08402)?
The current median list price in Margate (ZIP 08402) is approximately $1495K. 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.
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