Somerset, NJ Real Estate
According to census data in the year 2000 there were 8,473 housing units in Somerset.
This represents a 4% growth from 8,147 in 1990.
Of those housing units, 8,473 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Somerset is about 67%.
Somerset's vacancy rate, including seasonal lodging, is about 2.3%.
Average household size is 2.77 people.
The majority of houses, apartments or condos in Somerset were built after 1966.
|Housing Units by Size|
|Five Bedrooms or more||2.60%|
Owned Homes, Apartments and Condos
|Average Household Size||2.84|
|Median year structure was built||1966|
|Median Value of occupied units||$167,500|
|Median Price asked for vacant units||$121,900|
Rented Homes, Apartments and Condos
|Average Household Size||2.62|
|Median year structure was built||1967|
|Median Monthly Rent asked for vacant units||$770|
Owners Finance Status
|Second Mortgage & Equity Loan||0.50%|
|Home Equity Loan||10.50%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||21.6%|