Avalon NJ Area Information | 08202
Who Lives in Avalon NJ?
Avalon NJ borders the ocean. Fewer than 2000 people live here, and most of the families have “empty nest” syndrome. In many areas’ you can walk a few thousand feet to a beach and watch Surfers or Whales. According to Neighborhood Scout telecommuters, Collage graduates, and middle managers abound. The title of this paragraph is deceiving as I believe that many of Avalon’s residents are part time.
Map and Demographic information from Best Places and Google Maps.
What you need to know about Avalon before buying a home.
You’ll want to be committed to the idea of being a part of a community. Between the incredible tourist traffic and the ongoing battle to keep the ocean from eroding beachfront from 8th through 12th streets maintaining property and community value requires diligence and effort. While the summer months can be challenging and busy, the winter months are exactly opposite. From busy tourist destination too small town where you can stroll in the early morning and never see a soul. Do your research. It helps if you have spent some time not only in Cape May but Avalon or Stone Harbor specifically.
RENTING VRS BUYING IN AVALON NJ
Anyone can go onto Wikipedia and tell you this area is affluent. Look at the median home value. Most of the time you have to be local to realize that the vast majority of homeowners in Avalon either rent their homes part or full time. Let me put it this way. In July of 2016 when I was writing this Avalon area information page there where 2760 rentals on VRBO for Avalon NJ. There are only 692 households. This tells you a few things. Long and Foster is mixing Stone Harbor with Avalon. And almost EVERYONE that lives here rents rooms, or the entire house. These rentals go for $400-1500 a day during the summer months. Incredibly most of these rental sell out.
I don’t know what the exact number is but I suspect there are far more INVESTORS than actual residents in this neighborhood. Certainly, that is true for the summer. But being an investor is NOT for everyone especially since there is a fair amount of effort that goes into the listing and maintains properties. So listings DO become available in this neighborhood. More in the offseason.
Avalon Investor Cheat Sheet
Mortgage payment Est. - $4500-5000
Rental Income for four months - $35,000 (This is a low ball estimate AND includes a management fee)
While it is possible to rent in the off season prices, drop significantly. I always tell prospective investors this is an AMAZING investment if you are already in Cape May for part of the year. For some investors seeking a standalone “year round,” self-sustaining investment Avalon won’t be as appealing.
Stone Harbor[NB1] and Sea Isle City | Avalon’s Neighbors
Stone Harbor is even more exclusive than Avalon. It is ranked among the most expensive places to live in the U.S fairly consistently. If stone harbor is for executives, then Sea Isle City [NB2] is for artists. Both of these communities border Avalon.
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