Somerset, New Jersey gets a BestPlaces Cost of Living index of 131.6, which means the total cost of housing, food, child care, transportation, health care, taxes, and other necessities is 31.6 percent higher than the U.S. average and 9.8 percent lower than the average for New Jersey.
A typical home costs $432,200, which is 27.8 percent more expensive than the national average of $338,100 and 0.0 percent 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 percent more than the national average of $1,430 and 18.6 percent more than the state average of $1,710.
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.
Our cost of living indices are based on a US average of 100. An amount below 100 means Somerset is cheaper than the US average. A cost of living index above 100 means Somerset, New Jersey is more expensive.
Somerset cost of living is 131.6