Housing in Somerset, NJ
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$522,500
Median List Price
$475,000
Price Per Sq Ft
$325
Days on Market
35
Active Inventory
28
Months of Supply
1.4
Seller's market
Zillow Home Value
$556,685
ZHVI — January 2026
Zillow Rent Index
$2,618
ZORI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
75.0%
Off Market in 2 Weeks
26.7%
Sale-to-List Ratio
103.8%
Seller's market
Market Activity
Source: RedfinHomes Sold
20
New Listings
13
Pending Sales
15
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$325
Median List $/SF
$337
Somerset vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 10,000 - 25,000 residents. Somerset is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$408,600
Median Rent
$2,050
Total Housing Units
10,036
Vacancy Rate
2.8%
Owner Occupied
73.0%
Renter Occupied
26.9%
Median Property Tax
$7,836
per year
Monthly Cost (w/ Mortgage)
$2,163
Housing Types
The current median sale price in Somerset, NJ is $522,500 according to Redfin data. Homes spend a median of 35 days on the market. 75.0% of homes sold above asking price. The market has 1.4 months of supply. The median price per square foot is $325. Zillow's observed rent index is $2,618/month. About 73.0% of housing units are owner-occupied. The median year homes were built is 1980. There are 10,036 total housing units.