Housing costs in Somerset?
A typical home costs
$519,300, which is 53.6% more expensive than the national average of
$338,100 and 20.2% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Somerset costs
$1,920 per month, which is 34.3% more than the national average of
$1,430 and 10.9% more than the state average of
$1,710.
Can I afford Somerset?
To live comfortably in Somerset New Jer County, New Jersey, a minimum annual income of
$99,360 for a family, and
$60,800 for a single person is recommended.
What does A.I. say about Somerset?
Somerset County in New Jersey has a median house value of $519,300, which is significantly higher than the US average of $338,100. This high cost of living is reflected in the county's Cost of Living Index score of 131.6, which is much higher than the national average of 100. This means that living costs such as rent and groceries in Somerset County are significantly more expensive than the US average. As a result, those who choose to live in this area should be prepared to pay higher prices for everyday expenses.