Housing costs in Somerville?
A typical home costs
$409,500, which is 21.1% more expensive than the national average of
$338,100 and 5.2% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Somerville costs
$1,820 per month, which is 27.3% more than the national average of
$1,430 and 6.0% more than the state average of
$1,710.
Can I afford Somerville?
To live comfortably in Somerville, New Jersey, a minimum annual income of
$78,480 for a family, and
$57,600 for a single person is recommended.
What does A.I. say about Somerville?
The cost of living in Somerville, NJ is relatively high. Property taxes are among the highest in the state and the cost of housing is significantly higher than the average for New Jersey. The median home price in Somerville is approximately $360,000, which is more than double the median home price for the entire state. Furthermore, goods and services tend to be more expensive when compared to other parts of New Jersey. Despite these higher costs, residents enjoy a plethora of amenities such as excellent schools, safe neighborhoods, plenty of recreational activities, and easy access to major highways.