Living in Somerset, New Jersey
Cost of living, income, home prices, rent and demographics of Somerset · Census data 2020–2024
Somerset has 22,720 residents with a median age of 41.3. The median household income is $121,028 (17% higher than the New Jersey median), the median home value is $438,800, the median rent is $2,121/month.
Somerset at a glance
- Population
- 22,720
- Median age
- 41.3State: 40.1
- Median household income
- $121,028State: $103,556
- Median home value
- $438,800State: $454,400
- Median rent
- $2,121/moState: $1,720
- Homeowners
- 72.9%
- Bachelor's degree or higher
- 62%
- Average commute
- 35 min
Is Somerset a good place to live?
Pros: Median household income 17% higher than the New Jersey median; home values 3% lower than the state median; unemployment of 3.8%; a poverty rate of 4.5%.
Cons: An average commute of 35 minutes.
The weather is best in May–June and August–September.
Cost of living in Somerset
Housing is the biggest part of the cost of living. In Somerset the median home value is $438,800, 32% higher than the U.S. median. Renters pay a median of $2,121 per month, which is 32.7% of household income. Homeowners with a mortgage pay $2,674 a month in housing costs.
Somerset median household income
The median household income in Somerset is $121,028 and the income per person is $60,499. 4.5% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Somerset: homes for sale and rent
- Housing units
- 9,750
- Owner-occupied
- 72.9%
- Renter-occupied
- 27.1%
- Vacant
- 2.6%Includes seasonal homes
- Median year built
- 1980
- Average household size
- 2.35
Somerset demographics
- Population
- 22,720
- Median age
- 41.3
- Under 18
- 18.6%
- 65 and older
- 17.2%
- Households
- 9,492
- Foreign-born
- 29.1%
- Veterans
- 3%Adults 18+
Hispanic or Latino can be of any race. Population history of Somerset ›
Education in Somerset
62% of adults 25 and older in Somerset have a bachelor's degree or higher (New Jersey: 43.6%), and 26.2% have a graduate or professional degree.
Jobs and commute in Somerset
- Unemployment rate
- 3.8%State: 6.3%
- Average commute
- 35 minState: 31 min
- Work from home
- 20.4%
- Drive alone
- 66.1%
- Public transit
- 6.6%
- Walk to work
- 1%
- Homes with broadband
- 97.8%
Somerset vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Somerset | 22,720 | $121,028 | $438,800 | $2,121 |
| Clyde | 129 | $108,750 | $444,400 | — |
| East Franklin | 11,070 | $115,458 | $385,900 | $2,056 |
| Voorhees | 2,000 | $89,200 | $388,200 | $1,531 |
| Middlebush | 2,049 | $156,938 | $502,100 | — |
| Franklin Center | 6,646 | $157,212 | $612,000 | $2,748 |
| Six Mile Run | 2,882 | $140,379 | $480,700 | $2,145 |
| Piscataway | 61,297 | $127,832 | $449,900 | $2,024 |
| New Brunswick | 56,345 | $65,810 | $353,800 | $1,814 |
More for people moving to Somerset
Somerset ZIP code ›Weather and climate ›Living in Somerset: FAQ
What is the median household income in Somerset, NJ?
The median household income in Somerset is $121,028, 17% higher than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Somerset?
The median home value in Somerset is $438,800, compared with $454,400 in New Jersey.
How much is rent in Somerset?
The median gross rent in Somerset is $2,121 per month, about 32.7% of household income.
Is Somerset, NJ a good place to live?
Pluses: median household income 17% higher than the New Jersey median; home values 3% lower than the state median; unemployment of 3.8%; a poverty rate of 4.5%. Minuses: an average commute of 35 minutes.
What is the median age in Somerset?
The median age in Somerset is 41.3 years (New Jersey: 40.1).
How long is the commute in Somerset?
The average commute to work in Somerset is 35 minutes; 20.4% of workers work from home.
What is the unemployment rate in Somerset?
The unemployment rate in Somerset is 3.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Somerset?
62% of adults in Somerset have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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