Somerset, NJ has a housing median value of $432,200, which is significantly higher than the US median value of $338,100. This reflects the growing trend in the area for housing appreciation, with the US seeing an 8.27% increase in housing values over the last year and Somerset experiencing a 10.79% appreciation rate over the same period. The strong demand for housing in Somerset is indicative of healthy economic conditions that are driving up prices and making this an attractive investment opportunity for those looking to buy or rent homes in this area.
The median home cost in Somerset is $432,200. Home appreciation the last 10 years has been 60.4%. Home Appreciation in Somerset is up 15.1%.
Average Age of Homes
- The median age of Somerset real estate is 38 years old
The Rental Market in Somerset
- Renters make up 24.1% of the Somerset population
- 0.0% of houses and apartments in Somerset, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.