Oceanport was formed as a borough by an Act of the New Jersey Legislature on April 6, 1920, from portions of Eatontown Township (now Eatontown), based on the results of a referendum held on May 11, 1920.
New Jersey Monthly magazine ranked Oceanport as its 4th best place to live in its 2008 rankings of the "Best Places To Live" in New Jersey.
As of the census of 2000, there were 5,807 people, 2,043 households, and 1,554 families residing in the borough. The population density was 1,802.1 people per square mile (696.3/km²). There were 2,114 housing units at an average density of 656.0/sq mi (253.5/km²). The racial makeup of the borough was 95.71% White, 1.96% African American, 0.07% Native American, 0.79% Asian, 0.02% Pacific Islander, 0.55% from other races, and 0.90% from two or more races. Hispanic or Latino of any race were 2.07% of the population.
There were 2,043 households out of which 35.2% had children under the age of 18 living with them, 66.0% were married couples living together, 8.4% had a female householder with no husband present, and 23.9% were non-families. 21.7% of all households were made up of individuals and 10.7% had someone living alone who was 65 years of age or older. The average household size was 2.71 and the average family size was 3.18.
In the borough the population was spread out with 24.5% under the age of 18, 8.4% from 18 to 24, 25.5% from 25 to 44, 27.4% from 45 to 64, and 14.2% who were 65 years of age or older. The median age was 40 years. For every 100 females there were 98.1 males. For every 100 females age 18 and over, there were 96.0 males.
The median income for a household in the borough was $71,458, and the median income for a family was $85,038. Males had a median income of $57,955 versus $39,718 for females. The per capita income for the borough was $33,356. About 1.8% of families and 2.7% of the population were below the poverty line, including 2.1% of those under age 18 and 3.5% of those age 65 or over.
Route 71 and County Route 33 pass through Oceanport.
New Jersey Transit's North Jersey Coast Line also has a nearby limited-service stop at the Monmouth Park station for Monmouth Park Racetrack.
NJ Transit local bus service is provided on the 831 route.