The housing market in Somerville, NJ is thriving, with the median value of houses being $409,500 - significantly higher than the US median house value of $338,100. On top of that, the one year house appreciation rate in Somerville, NJ is 10.79%, which is significantly higher than the national average of 8.27%. The housing market in Somerville, NJ is strong and stable with increasing value and appreciation rates over time.
The median home cost in Somerville is $409,500. Home appreciation the last 10 years has been 60.4%. Home Appreciation in Somerville is up 15.1%.
Average Age of Homes
- The median age of Somerville real estate is 63 years old
The Rental Market in Somerville
- Renters make up 35.7% of the Somerville population
- 1.8% of houses and apartments in Somerville, 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.