ZIP Code · NJ

ZIP 08402

Part of Margate City, NJ

Pop. 5,234·Atlantic County·198th most expensive ZIP in New Jersey

Median rent (all units)

$1,858/mo

Year-over-Year

+20.3%

Month-over-Month

+2.0%

vs US Median

-$74

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 08402 · $1,858

More expensive than 53% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,530

1 BR

$1,750

2 BR

$2,120

3 BR

$2,940

4 BR+

$3,240

Research median

$2,120/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of New Jersey

Rent in ZIP 08402 changed +20.3% over the year to September 2026. Across the 149 New Jersey ZIP codes Zillow tracks, the typical change was +2.8%.

Recent direction

Rent has risen 7 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($121,800) is $3,045 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,940); a 4-bedroom is $3,240.

From Zillow's monthly rent index (ZORI) for ZIP 08402. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,296/yr

At $1,858/mo median

Location

CityMargate City

StateNJ

CountyAtlantic County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 20.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+20.3% YoY, +2.0% 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.

Community

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Local insights

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About renting in ZIP 08402

Last updated: October 17, 2026

ZIP code 08402 covers Margate City, NJ. The median rent here is $1,858/mo as of October 2026. A 1-bedroom rents for a median of $1,750/mo. A 2-bedroom rents for a median of $2,120/mo.

At 18% of local median household income ($121,800/yr), ZIP 08402 ranks as affordable compared to the national benchmark of 30%. Rents have increased 20.3% over the past year.

FAQ

Frequently asked questions

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 $74,000/year (about $36/hour full-time) to afford the median rent of $1,858/mo in ZIP 08402. The local median household income is $121,800/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 08402?

Rent in ZIP 08402 has risen 20.3% over the past year.

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

ZIP 08402 is one of the more affordable among New Jersey ZIP codes for rent, ranking #198 of 209 at $1,858/mo. Over the year to September 2026, rent in ZIP 08402 changed +20.3%, against a typical +2.8% across the 149 New Jersey ZIP codes Zillow tracks.