A typical Somerset home is worth about $579,000
Up 2.5% in a year, close to the New Jersey typical home. Homes typically sell in 14 days, a little above asking.
What kind of housing town is Somerset?
Read from the numbers below. The page puts what stands out first.
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, May 2026.
Up 34.2% in five years
About the same pace as New Jersey (35.4%).
Show as a table
| January | Somerset | New Jersey |
|---|---|---|
| 2017 | $320,000 | $317,000 |
| 2018 | $334,000 | $330,000 |
| 2019 | $350,000 | $343,000 |
| 2020 | $369,000 | $358,000 |
| 2021 | $401,000 | $394,000 |
| 2022 | $441,000 | $441,000 |
| 2023 | $474,000 | $471,000 |
| 2024 | $515,000 | $511,000 |
| 2025 | $560,000 | $551,000 |
| 2026 | $570,000 | $568,000 |
| August 2026 | $579,000 | $580,000 |
A typical Somerset home worth $314K in September 2016 is worth about $579K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through August 2026.
A typical home costs 4.8 years of income
Less than across New Jersey (5.6 years). Try your own numbers below.
That’s $164K short of a typical Somerset home.
A two-bedroom rents for about $2,660 a month here, $1,280 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Somerset’s typical property tax (1.87% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $2,660
Renters already here pay a median of $2,121, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
73% of Somerset households own their home
Half of Somerset’s homes were built before 1980.
New Jersey: 64% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Somerset vs. its neighbors
Somerset is the 3rd priciest of 7 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Somerset | $579K | +2.5% | $2,660 | — | $121,028 |
| Franklin | $458K* | +4.7%† | $2,680 | 17 | $124,648 |
| Piscataway | $605K | +2.5% | $2,660 | 66 | $127,832 |
| Middlebush | $502K* | +4.8%† | $2,660 | — | $156,938 |
| Clyde | — | +4.8%† | $2,660 | — | $108,750 |
| New Brunswick | $448K | +0.6% | $2,380 | 46 | $65,810 |
| East Franklin | $386K* | +4.8%† | $2,660 | — | $115,458 |
| Franklin Center | $612K* | +4.8%† | $2,660 | — | $157,212 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Somerset buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.