Somerset, NJ
Full City Profile · New Jersey · Middlesex County County
4.8
/5.0
A+
Excellent
23,851
Population
3,768/sq mi density
$113,603
Median Income
$57,140 per capita
$408,600
Home Value
$578,473 Zillow
$2,050
Median Rent
33.0% income on rent
54°F
Avg Temperature
A+
Overall
4.8 / 5.0
Strong
A+
Economy
4.7 / 5.0
$113,603 median income, 3.8% unemployment
A+
Affordability
4.7 / 5.0
$408,600 home value, $2,050/mo rent
A+
Education
5.0 / 5.0
58.6% bachelor's degree or higher
Housing Overview
Median Home Value
$408,600
45% above
US avg: $281,900
Median Rent
$2,050/mo
76% above
US avg: $1,163/mo
Homeownership Rate
73.1%
12% above US avg (65.4%)
Total Housing Units
10,333
Median year built: 1979
Home Value by Source
Census Median
$408,600
Zillow (ZHVI)
$578,473
Redfin Median Sale
$577,500
Median Sale Price
$577,500
Median List Price
$484,500
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
73.1%
Owner-Occupied
26.9%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,804/mo
1 Bedroom
$1,978/mo
2 Bedroom
$2,486/mo
3 Bedroom
$2,981/mo
4 Bedroom
$3,296/mo
Census median rent:
$2,050/mo
· Zillow rent:
$2,598/mo
Market Indicators (Redfin)
Median Sale Price
$577,500
Median Days on Market
57 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
12
Price Drops
25.8%
of listings with price reduction
Price Per Sq Ft
$305
Active Inventory
31
homes for sale
Affordability & Housing Stock
Rent Burden
33.0%
of renters spending 30%+ of income on housing
6% above US avg (31.0%)
Median Year Built
1979
Average age of housing stock: 47 years
Homeownership Rate
73.1%
Complete Housing Data
Home Values
| Census Median Value | $408,600 |
| Zillow Home Value (ZHVI) | $578,473 |
| Redfin Median Sale | $577,500 |
| Median Sale Price | $577,500 |
| Median List Price | $484,500 |
| Price Per Sq Ft | $305 |
Rent
| Census Median Rent | $2,050 |
| Zillow Rent (ZORI) | $2,598 |
| FMR Studio | $1,804 |
| FMR 1-Bedroom | $1,978 |
| FMR 2-Bedroom | $2,486 |
| FMR 3-Bedroom | $2,981 |
| FMR 4-Bedroom | $3,296 |
Market
| Days on Market | 57 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 25.8% |
| Homes Sold | 12 |
| Active Inventory | 31 |
| Price Per Sq Ft | $305 |
Ownership & Stock
| Owner-Occupied | 73.1% |
| Renter-Occupied | 26.9% |
| Homeownership Rate | 73.1% |
| Total Housing Units | 10,333 |
| Median Year Built | 1979 |
| Rent Burden | 33.0% |