Housing costs in Somerset?
A typical home costs
$432,200, which is 27.8% more expensive than the national average of
$338,100 and 0.0% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Somerset costs
$2,100 per month, which is 46.9% more than the national average of
$1,430 and 18.6% more than the state average of
$1,710.
Can I afford Somerset?
To live comfortably in Somerset, New Jersey, a minimum annual income of
$82,800 for a family, and
$66,400 for a single person is recommended.
What does A.I. say about Somerset?
The cost of living in Somerset, NJ is quite reasonable. Though it is a bit higher than the national average, the cost of housing in particular is very affordable. Rental prices in particular are much less expensive than surrounding areas, with many one-bedroom apartments costing an average of $1,850 a month. Additionally, utilities are lower than the national average and groceries also come at a surprisingly low cost. Overall, living in Somerset can be quite affordable if you know where to look.