Atlantic City First-Time Homebuyer Report for October

Atlantic City has a much older population than other areas in New Jersey with a median age of 36 years. It is also much less affluent than average with a median income of $34,411 per household. The three zip codes with the largest populations are 08401, 08201, and 08406. The Atlantic City market is almost exclusively made up of condos and townhouses, which currently account for 10% of the homes for sale in the area. Topping the list of best schools in the city is Marine Academy Sci & Tech.

Price Range

Homes in Atlantic City are generally less expensive than others in the state with a median home value of $140,000 and an average list price of $74,247. 08406, 08201, and 08401 are the costliest places in the city.

Wonder which homes are generating the most buzz? Here are the most viewed listings in Atlantic City:

$125K   $220K   $105K  

Typical Dwelling

A three-bedroom detached home valued around $54,660 is considered a typical dwelling in Atlantic City. If a buyer was looking for a similar home, they would need good credit and a $10,932 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $115 and the property tax rate is $23.44 per $1,000 of taxable assessed value.

Get started right now by checking out Atlantic City homes for sale or reviewing Atlantic City real estate trends.


Data reported through 10/13/2016

Comments:

Ask a local expert about this area:
Jersey Atlantic Realty
Snapped 2 homes in this area
Castle Estates Realty Inc
Snapped 1 home in this area

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