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Real Estate Prices & Overview

Borough Center / Somersetin median real estate price is $968,060, which is more expensive than 84.0% of the neighborhoods in New Jersey and 88.3% of the neighborhoods in the U.S.

The average rental price in Borough Center / Somersetin is currently $3,483, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.8% of the neighborhoods in New Jersey.

Borough Center / Somersetin is a rural neighborhood (based on population density) located in Bernardsville, New Jersey.

Borough Center / Somersetin real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Borough Center / Somersetin neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Borough Center / Somersetin, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 88.5% of all neighborhoods in the U.S. This means that the housing supply in Borough Center / Somersetin is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Bernardsville, the Borough Center / Somersetin neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.7% of America's neighborhoods are wealthier than the Borough Center / Somersetin neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Borough Center / Somersetin also has one of the lowest ratings of child poverty in the nation.

In addition, according to NeighborhoodScout's exclusive analysis, Borough Center / Somersetin is among the best neighborhoods for families in New Jersey. In fact, this neighborhood is more family-friendly than 99.9% of neighborhoods in the entire state of New Jersey. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Borough Center / Somersetin neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 79.8% of the adults living in the Borough Center / Somersetin neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.7% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 96.3% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Borough Center / Somersetin neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Real Estate

Real estate in the Borough Center / Somersetin neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.8% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

In addition, one way that the Borough Center / Somersetin neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.0% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Borough Center / Somersetin neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 95.5% of all American neighborhoods.

Diversity

Did you know that the Borough Center / Somersetin neighborhood has more Italian and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.0% of this neighborhood's residents have Italian ancestry and 30.2% have Irish ancestry.

Borough Center / Somersetin is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Borough Center / Somersetin neighborhood in Bernardsville are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.3% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Borough Center / Somersetin neighborhood, 68.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 29.8% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (2.4%).

Languages

The most common language spoken in the Borough Center / Somersetin neighborhood is English, spoken by 94.7% of households. Some people also speak German/Yiddish (2.8%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Borough Center / Somersetin neighborhood in Bernardsville, NJ, residents most commonly identify their ethnicity or ancestry as Italian (37.0%). There are also a number of people of Irish ancestry (30.2%), and residents who report German roots (16.2%), and some of the residents are also of Polish ancestry (9.2%), along with some English ancestry residents (8.0%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Borough Center / Somersetin neighborhood spend under 15 minutes commuting one-way to work (38.6% of working residents), one of the shortest commutes across America.

Here most residents (74.8%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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