Ocean Gate—08740
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ocean Gate
As of Oct '25, the median home price in Ocean Gate is $433,000, with a year-over-year change of 2.1%. This indicates that home prices in Ocean Gate are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $433,000 | 2.1% |
| Single Family | $433,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $358,000 | 0.8% |
3 Bed | $444,000 | 2.8% |
4 Bed | $534,000 | 2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Ocean Gate
As of July '25, Rentcast reports the average rent in Ocean Gate is $2,780, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Ocean Gate is 2-bedrooms: $2,400, 3-bedrooms: $3,150. The most common rental property sizes in Ocean Gate are 3-bedroom and 2-bedroom, accounting for 56.6% and 39.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,780 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,300 | $2,400 |
| 3 Bed Rent | $2,800 | $3,150 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Ocean Gate
As of Oct '25, Realtor.com reports that the median days on market for a home in Ocean Gate is 108. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $478,000 | -5.0% |
Listing Count | 9 | -8.0% |
| Listings as % of Homes | 1.1% | -8.0% |
Days on Market | 108 | 5.0% |
Demographics — Ocean Gate
As of the latest ACS Survey released in 2023, Ocean Gate has a population of 1,770, which has increased by 2.0% over the past 5 years. Ocean Gate is a moderately popular place for families, as children make up 16.2% of the population. The area has a moderately educated workforce, with 33.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,770 | 2.0% |
% Under 18 | 16.2% | -8.0% |
% Seniors | 24.5% | 46.7% |
% WFH | 7.0% | 105.9% |
% w/ College Degree | 33.2% | 43.1% |
As of the latest ACS Survey released in 2023, Ocean Gate is a predominantly white area, with 90.9% of the population identifying as white. The white population has grown by 5.9% in the last 5 years. The second most common race or ethnicity in Ocean Gate is asian, making up 2.4% of the population. Foreign-born residents account for 4.5% of the population in Ocean Gate, and this percentage has increased by 104.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.9% | 5.9% |
% Black | 1.1% | -80.0% |
% Hispanic | 0.5% | -94.6% |
% Asian | 2.4% | 700.0% |
% Foreign Born | 4.5% | 104.5% |
Mortgage and Risk — Ocean Gate
According to HUD data as of 2023, there were 43 mortgage originations in Ocean Gate, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Ocean Gate. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 43 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Ocean Gate
Ocean Gate lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 30 |
Total Units Section 8 | 30 |
% Rentals under Section 8 | 20.0% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,880 |
| 2 Bedroom | $20 | $2,300 | $2,320 |
| 3 Bedroom | $290 | $2,800 | $3,090 |
| 4 Bedroom | N/A | N/A | $3,440 |
Affordability — Ocean Gate
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $433,000 |
| Median Household Income | $75,300 |