Cost of Living in Long Beach Island

Long Beach Island, often referred to as LBI, is a popular coastal resort community known for its beautiful beaches, quaint towns, and seasonal tourism. The cost of living in Long Beach Island can be quite high, especially during the peak summer months when the population swells with vacationers. Housing prices on Long Beach Island vary depending on proximity to the beach, the town, and the condition of the property. As of my knowledge cutoff in early 2023, the median home price on Long Beach Island can range from approximately $900,000 to over $2 million, with 3 and 4 bedroom homes often falling within this range. Waterfront properties or homes with ocean views tend to be at the higher end of the price spectrum.

Apartment rentals on Long Beach Island are also in high demand, especially during the summer season. Year-round rentals are less common but can be found, with prices varying widely based on location, amenities, and size. Monthly rental rates for apartments can range from $1,500 to $4,000 or more, with higher prices for properties closer to the beach or with more luxurious features. Apartment purchases are less common, as the market is predominantly composed of single-family homes and seasonal rentals. However, condos and townhouses are available for purchase, with prices typically starting around $400,000 and going up significantly from there.

When it comes to dining out, Long Beach Island boasts a variety of restaurants ranging from casual eateries to upscale dining experiences. The cost of a meal at a mid-range restaurant can range from $15 to $30 per person, while a three-course meal at an upscale restaurant can cost $50 per person or more, excluding drinks and gratuity. Utilities on Long Beach Island, including electricity, heating, cooling, water, and garbage services, can cost around $200 to $400 per month for a standard home, depending on usage and the time of year.

Private school tuition on Long Beach Island varies depending on the institution and the level of education. Preschool tuition can range from $800 to $1,500 per month, while elementary, middle, and high school tuition can range from $10,000 to $30,000 per year. These costs can be higher for schools with specialized programs or prestigious reputations. It's important to note that these figures are approximate and can fluctuate based on a variety of factors, including specific location on the island, market conditions, and individual school pricing.