Gloucester County

Gloucester County prices its median home at $379,106 against a median rent of $2,350, producing a gross rent-to-price ratio of 0.74% per month (7.44% annualized). That sits in the lower-middle tier for cash flow nationally but comfortably above most New Jersey neighbors. The model cap rate comes in at 4.84%, which is a real number worth underwriting against, not a fantasy. At a 6.85% financing cost, the math on a standard 20% down purchase is negative: estimated monthly cash flow of -$460 and a cash-on-cash return of -6.33%. That gap between the cap rate and the cost of debt is the defining tension in this market right now. On the appreciation side, home prices are up 4.09% year-over-year, and the appreciation score of 83 out of 100 puts Gloucester firmly toward the value-growth end of the spectrum. The overall score of 70 and a national ranking of 114 out of 1,000 (85th percentile) confirm this is a better-than-average market, but not a cash-flow machine at current interest rates.

The investor profile this market suits is someone who can tolerate negative monthly carry in exchange for price appreciation, or an operator who can force equity through value-add work to push rents above the county median. At $2,350 median rent and a median household income of $99,668, renters here are not low-income tenants on thin margins. The affordability index of 73 and affordability score of 73 suggest the market is stretched for would-be buyers, which is a tailwind for rental demand: households that can afford the rent cannot easily afford to buy at $379,000-plus with rates near 7%. That keeps demand sticky. A pure cash-flow buyer needs either a significant discount to the median purchase price, a larger down payment to reduce mortgage carry, or a below-median acquisition that can be repositioned above median rents. The stability score of 50 is the one number that warrants caution: it signals some cyclical or demographic sensitivity that a buy-and-hold investor should pressure-test before committing.

No economic anchors or employer data were provided for this county, so a detailed labor market breakdown is not possible here. What the income data does suggest is that Gloucester's $99,668 median household income supports the rent level without obvious strain, and the county's position in the Philadelphia metro corridor generally implies access to a diversified employment base, though investors should verify local job concentration independently.

The tax and insurance picture is a serious underwriting consideration. At a 2.49% state-average effective property tax rate, New Jersey's levy is among the highest in the country, and it shows up in the numbers: annual property tax on the median asset runs approximately $9,440, and combined with roughly $796 in annual insurance, you are looking at $853 per month in tax and insurance alone before you touch mortgage principal and interest or any operating expenses. At that level, $853 is not a rounding error; it is the single largest expense line after the mortgage payment of $1,987. Investors accustomed to Sun Belt markets where tax and insurance might run $300 to $400 monthly need to reset their expectations here. The 2.49% figure is a state-average estimate per Tax Foundation 2024 data, and the note in the underlying data is worth taking seriously: actual county and township rates in New Jersey vary meaningfully, and your specific municipality could be higher or lower. Pull the actual township millage rate before you close.

The comparative picture sharpens the case for Gloucester over its neighbors for appreciation-oriented buyers. Against Camden County ($343,117 median, 0.716% monthly rent ratio, overall score 68) and Burlington County ($409,401 median, 0.648% ratio, score 64), Gloucester offers a better rent-to-price ratio than Burlington at a lower price than Burlington, with a higher overall score than both. Atlantic County ($369,150 median, 0.686% ratio, score 64) is similarly priced but scores six points lower overall. Cumberland County ($268,279 median, 0.768% ratio, score 66) is the one neighbor that beats Gloucester on rent-to-price ratio and offers a lower entry price, making it the more natural choice for a cash-flow-first buyer who needs immediate positive carry. Sussex County ($433,403 median, 0.649% ratio, score 66) is more expensive with a weaker ratio and a lower score: there is no obvious case for Sussex over Gloucester unless a specific asset or submarket justifies it. Choose Gloucester over its neighbors when your primary thesis is appreciation with some income support and you want a market with a population of 302,621, income depth, and a Philadelphia-adjacent location, all at the second-best overall score in the state.