Summit, NJ Real Estate

According to census data in the year 2000 there were 8,146 housing units in Summit. This represents a 1.8% growth from 8,003 in 1990.

Of those housing units, 8,146 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Summit is about 68%. Summit's vacancy rate, including seasonal lodging, is about 3.1%. Average household size is 2.67 people.

The majority of houses, apartments or condos in Summit were built after 1949.


Housing Size

Housing Units by Size
Studio Type1%
One Bedroom10.70%
Two Bedrooms21.10%
Three Bedrooms30.80%
Four Bedrooms21.70%
Five Bedrooms or more14.70%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.9
Median year structure was built1949
Median Value of occupied units$469,200
Median Price asked for vacant units$415,900

Rented Homes, Apartments and Condos

Average Household Size2.19
Median year structure was built1949
Median Monthly Rent asked for vacant units$1,352

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.60%
Second Mortgage5.90%
Home Equity Loan10%
Simple Mortgage49.60%
Debt Free33.90%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs17.6%