NJ area data
Somerset, NJ
Somerset, NJ.
Population: 56,327 (Census ACS)
Home values & appreciation
- Median home value
- $581,824
- 1-year appreciation
- +2.2%
- 3-year appreciation
- +15.8%
- 5-year appreciation
- +34.7%
- 10-year appreciation
- +77.2%
- All-time peak (2026-07)
- $581,824
- House Price Index
- 430.8 (+5.2% YoY)
Market activity
- Median sale price
- $660,000
- Median list price
- $590,000
- Median days on market
- 134.5 days
- Sale-to-list ratio
- 105.6%
- Active listings
- 3
- 1-year forecast
- +2.2%
- Days to pending
- 32 days
- New listings (monthly)
- 56
Rents
- Typical rent
- $2,722/mo
- 1-year rent change
- +1.2%
- 1BR fair-market rent
- $1,731/mo
- 3BR fair-market rent
- $2,729/mo
Affordability
- Cost of living index (High)
- 112.5 (100 = US avg)
- Electricity rate (state-level)
- 22.6¢/kWh
- Natural gas rate (state-level)
- $14.20/MCF
- 30-year mortgage rate (national)
- 6.66%
- 15-year mortgage rate (national)
- 6.00%
Schools
- Total schools
- 10
- Elementary schools
- 5
- Middle schools
- 2
- High schools
- 1
- Charter schools
- 2
Natural hazards & flood risk
- Overall hazard risk
- Relatively Moderate
- Top hazards
- iceStorm, inlandFlooding, lightning, strongWind, winterWeather
- FEMA flood zone
- X
- Flood risk level
- Minimal
Climate (30-year normals)
- Annual precipitation
- 51.3 in
Walkability & transit
- Walkability index
- 10.3 / 20
- Transit service frequency
- -99,999
Amenities
- National parks within ~60 mi
- 26
- Nearest national park
- Morristown National Historical Park (19 mi)
- Nearest airport
- Central Jersey Regional Airport (JVI) (4 mi)
- Nearest major airport
- Trenton Mercer Airport (TTN) (21 mi)
- Hospitals nearby (~15 mi)
- 15
- Avg hospital rating
- 2.9 / 5
- Solar radiation rating
- Fair (4.0 kWh/m²/day)
Migration
- Net migration
- -622 tax filers
Housing stock
- Median year housing built
- 1,984
- Median annual property tax
- $8,668
- Mean commute to work
- 27 min
- Households with broadband internet
- 88.0%
Employment & development
- Total county employment
- 175,080
- Average weekly wage
- $2,009
- Top industries (by employment)
- Professional Services, Health Care, Administrative Services
- Annual residential building permits (county)
- 248
Area data compiled from public government, academic, and industry research feeds. Data sources →
Data last updated
Most recent source refresh: Aug 2026. See all data sources →