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Somerville, NJ Real Estate


According to census data in the year 2000 there were 4,898 housing units in Somerville. This represents a 0.9% growth from 4,853 in 1990.

Of those housing units, 4,898 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Somerville is about 48.5%. Somerville's vacancy rate, including seasonal lodging, is about 2.6%. Average household size is 2.48 people.

The majority of houses, apartments or condos in Somerville were built after 1952.

Statistics

Housing Size

Housing Units by Size
Studio Type3.60%
One Bedroom24.40%
Two Bedrooms23.50%
Three Bedrooms31.30%
Four Bedrooms15%
Five Bedrooms or more2.20%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.83
Median year structure was built1949
Median Value of occupied units$156,700
Median Price asked for vacant units$126,900

Rented Homes, Apartments and Condos

Average Household Size2.16
Median year structure was built1955
Median Monthly Rent asked for vacant units$792

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.20%
Second Mortgage5%
Home Equity Loan10.50%
Simple Mortgage52.20%
Debt Free32.10%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs22.9%