All Countries
Summit, NJ
Full City Profile · New Jersey · Union County County
3.8
/5.0
B+
Good
22,512
Population
3,758/sq mi density
$199,107
Median Income
$110,417 per capita
$969,900
Home Value
$1,330,428 Zillow
$2,308
Median Rent
23.8% income on rent
53°F
Avg Temperature
271 sunny days/yr
14
Violent Crime/100K
619 property/100K
B+
Overall
3.8 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.9 / 5.0
$199,107 median income, 3.0% unemployment
B+
Affordability
3.9 / 5.0
$969,900 home value, $2,308/mo rent
F
Safety
1.2 / 5.0
14 violent crimes/100K
A+
Education
5.0 / 5.0
72.7% bachelor's degree or higher
Housing Overview
Median Home Value
$969,900
244% above
US avg: $281,900
Median Rent
$2,308/mo
98% above
US avg: $1,163/mo
Homeownership Rate
71.8%
10% above US avg (65.4%)
Total Housing Units
8,468
Median year built: 1953
Home Value by Source
Census Median
$969,900
Zillow (ZHVI)
$1,330,428
Median Sale Price
$1,200,000
Median List Price
$1,025,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
71.8%
Owner-Occupied
28.2%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,599/mo
1 Bedroom
$1,759/mo
2 Bedroom
$2,132/mo
3 Bedroom
$2,658/mo
4 Bedroom
$3,005/mo
Census median rent:
$2,308/mo
· Zillow rent:
$2,929/mo
Market Indicators (Redfin)
Median Days on Market
13 days
Sale-to-List Ratio
1.1%
Buyers market
Homes Sold
5
Price Drops
0.0%
of listings with price reduction
Price Per Sq Ft
$699
Active Inventory
12
homes for sale
Affordability & Housing Stock
Rent Burden
23.8%
of renters spending 30%+ of income on housing
23% below US avg (31.0%)
Median Year Built
1953
Average age of housing stock: 73 years
Homeownership Rate
71.8%
Complete Housing Data
Home Values
| Census Median Value | $969,900 |
| Zillow Home Value (ZHVI) | $1,330,428 |
| Median Sale Price | $1,200,000 |
| Median List Price | $1,025,000 |
| Price Per Sq Ft | $699 |
Rent
| Census Median Rent | $2,308 |
| Zillow Rent (ZORI) | $2,929 |
| FMR Studio | $1,599 |
| FMR 1-Bedroom | $1,759 |
| FMR 2-Bedroom | $2,132 |
| FMR 3-Bedroom | $2,658 |
| FMR 4-Bedroom | $3,005 |
Market
| Days on Market | 13 |
| Sale-to-List Ratio | 1.1% |
| Price Drops | 0.0% |
| Homes Sold | 5 |
| Active Inventory | 12 |
| Price Per Sq Ft | $699 |
Ownership & Stock
| Owner-Occupied | 71.8% |
| Renter-Occupied | 28.2% |
| Homeownership Rate | 71.8% |
| Total Housing Units | 8,468 |
| Median Year Built | 1953 |
| Rent Burden | 23.8% |