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Real Estate Prices & Overview

Somerset North median real estate price is $588,887, which is more expensive than 53.2% of the neighborhoods in New Jersey and 73.7% of the neighborhoods in the U.S.

The average rental price in Somerset North is currently $3,662, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.2% of the neighborhoods in New Jersey.

Somerset North is an urban neighborhood (based on population density) located in Somerset, New Jersey.

Somerset North real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Somerset North neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Somerset North, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 90.0% of all neighborhoods in the U.S. This means that the housing supply in Somerset North is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 52.1%. This is a higher percent living alone than we found in 96.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Diversity

Did you know that the Somerset North neighborhood has more Dominican and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.3% of this neighborhood's residents have Dominican ancestry and 26.4% have Asian ancestry.

Somerset North is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.3% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Somerset North neighborhood in Somerset are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.0% of the neighborhoods in America. In addition, 8.8% 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 53.8% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Somerset North neighborhood, 56.2% 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 25.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.4%), and 9.4% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Somerset North neighborhood is English, spoken by 67.5% of households. Other important languages spoken here include Spanish, Langs. of India and Chinese.

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 Somerset North neighborhood in Somerset, NJ, residents most commonly identify their ethnicity or ancestry as Asian (26.4%). There are also a number of people of Italian ancestry (10.5%), and residents who report Sub-Saharan African roots (7.0%), and some of the residents are also of Irish ancestry (6.2%), along with some German ancestry residents (5.7%), among others. In addition, 29.3% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Somerset North neighborhood spend between 15 and 30 minutes commuting one-way to work (33.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (76.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.9%) and 6.1% of residents also take the train for their daily commute. 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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