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ZIP Code · NJ

ZIP 08402

Pop. 5,234·Atlantic County·1st most expensive ZIP in New Jersey
Median rent (all units)
$6,862/mo
Year-over-Year
-71.9%
Month-over-Month
-47.5%
vs US Median
+$4,897
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 08402 · $6,862
More expensive than 100% of US ZIP codes · National median $1,965/mo
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Last updated: July 20, 2026

Annual cost
$82,344/yr
At $6,862/mo median
Location
StateNJ
CountyAtlantic County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 71.9% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-71.9% YoY, -47.5% MoM), not inventory.
Demographics

Who lives here

ZIP 08402 (Margate City, NJ) is majority owner-occupied, has a large retiree population, has a median income above the national average, 57.7% of residents hold a bachelor's degree or higher.

Population
5,234
Median income
$121,800
Median age
57.5
Renters
10%
Age distribution
13.8%
20.4%
18.5%
35.5%
Under 1813.8%
18–3411.8%
35–5420.4%
55–6418.5%
65+35.5%
Gender
44.3%
55.7%
Male44.3%
Female55.7%
Race & ethnicity
92.5%
White92.5%
Hispanic4.3%
Asian1.3%
Other1.5%
Education (25+)
16.1%
22.1%
57.7%
No HS diploma4.1%
HS diploma16.1%
Some college22.1%
Bachelor's+57.7%
Housing tenure
90%
Owner90%
Renter10%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 08402 in Margate City, NJ has changed in 5 years

Income
$106,206 → $121,800
up 14.7%
Population
5,388 → 5,234
down 2.9%
Renter share
13.7% → 10%
-3.7 pts
Bachelor's+
56.3% → 57.7%
+1.4 pts
Median age
58.1 → 57.5
-0.6 yrs

Local incomes tracked alongside that move, going from a median of $106,206 in 2021 to $121,800 more recently. Headcount in the area went from 5,388 to 5,234 between 2021 and 2024, a 2.9% change. About 10% of households rent today, against 13.7% in 2021.

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Local insights

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About renting in ZIP 08402

Last updated: July 20, 2026

ZIP code 08402 covers Margate City, NJ. The median rent here is $6,862/mo as of July 2026.

At 68% of local median household income ($121,800/yr), ZIP 08402 ranks as expensive compared to the national benchmark of 30%. Rents have decreased 71.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 08402?

As of July 20, 2026, the median monthly rent in ZIP 08402 (Margate City, NJ) is $6,862. This is based on aggregated data from public sources and community submissions.

How does ZIP 08402 rent compare to the US average?

ZIP 08402's median rent of $6,862/mo is $4,897 (249%) above the US national median of $1,965/mo.

How does ZIP 08402 compare to other ZIPs in New Jersey?

ZIP 08402 is one of the pricier ZIP codes in New Jersey, ranking #1 out of 212 ZIPs tracked at $6,862/mo.

How much income do you need to rent in ZIP 08402?

To keep rent at or below 30% of gross income, you would need to earn at least $274,000/year (~$132/hour full-time) to afford the median rent of $6,862/mo in ZIP 08402. The local median household income is $121,800/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 08402?

Rent in ZIP 08402 has decreased 71.9% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 08402 an affordable place to rent?

ZIP 08402 is considered expensive for renters. At $6,862/mo, rent takes approximately 68% of the local median household income ($121,800/yr). The standard benchmark is 30%. ZIP 08402 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 08402 residents rent vs. own?

According to Census data, approximately 10% of ZIP 08402 households are renters, while 90% are owner-occupied. ZIP 08402 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 08402 compare to the rest of Margate City?

ZIP 08402 sits right at the Margate City citywide median of $6,862/mo.

When was rent data for ZIP 08402 last updated?

Rent data for ZIP 08402 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
68%
EXPENSIVE

At $6,862/mo, rent takes ~68% of ZIP 08402's median household income ($121,800/yr). The standard benchmark is 30%.

ZIP 08402 68%Benchmark 30%
State income tax1.4–10.75%
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