Ownership Costs in the LBI Real Estate Market
Ownership Information in the Long Beach Island Real Estate Market
When buying a home on Long Beach Island, the purchase price is only part of the equation. Ownership costs in the LBI real estate market—including property taxes, flood insurance, maintenance, utilities, and seasonal expenses—can significantly impact your budget and long-term investment. Whether you’re purchasing a vacation home, a rental property, or a year-round residence, understanding these costs upfront ensures smarter financial planning and helps you avoid surprises after closing.
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Property taxes will vary between the different towns on Long Beach Island. A very rough number to estimate annual property taxes will be between $5,000 and $8,000 for a Cape Cod-style home and $10,000 to $35,000 for a newer construction. Beach Haven can, at times, register a higher overall tax rate, and Ship Bottom tends to be the lowest. A general but helpful way to estimate property taxes is to multiply the price of the home by 0.65%. This is only an estimate, but it will typically be in the range of property taxes on Long Beach Island. Keep in mind that often times, the taxes shown in the MLS are incorrect, especially in the case of a new construction on Long Beach Island, so it is very important to verify this information before buying a home.
Property Taxes
Property taxes on Long Beach Island vary by town. A rough estimate for annual property taxes is $5,000-$8,000 for a Cape Cod-style home and $10,000-$35,000 for newer construction. Beach Haven may have a higher tax rate, while Ship Bottom tends to have the lowest. A helpful way to estimate property taxes is to multiply the home price by 0.65%. However, tax information in MLS listings may be inaccurate, especially for new constructions, so it’s important to verify this before purchasing.
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Nathan Colmer
C: 609-290-4293 O: 609-492-1511 Email Me
I’m Nathan Colmer, and I’ve spent years living, working, and exploring every corner of Long Beach Island. My deep knowledge of LBI comes from hands-on experience—understanding the unique character of each town, the nuances of oceanfront and bayside properties, and the factors that drive this market. Whether it’s flood zones, elevation requirements, or rental income potential, I know what matters because I’ve helped countless clients navigate these details successfully. My goal is simple: to provide you with clear, honest guidance so you can make the best decision for your lifestyle and investment.
