Somerset, NJ
Population 23,851 · New Jersey
About Somerset, NJ
Somerset is a mid-sized city located in New Jersey with a population of 23,851 residents according to the latest US Census Bureau American Community Survey data. The median household income is $113,603 per year, which is 51% above the national median of $75,149. The median age of 40.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Somerset features a median home value of $408,600, which is 67% above the national median of $244,900. This places Somerset in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,050, 76% above the national average of $1,163/month. Of the 10,036 total housing units, 73% are owner-occupied (7,130 units) and 27% are renter-occupied (2,630 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Somerset shows an unemployment rate of 3.8%, which is near the national rate of 3.7%. The poverty rate stands at 6.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Somerset have an average one-way commute time of 34.1 minutes.
Education & Demographics
58.6% of Somerset residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.1% White, 1.6% Hispanic or Latino, 4.9% Black or African American, and 6.5% Asian residents, with 27.5% of the population being foreign-born.
How Somerset Ranks in New Jersey
Cost of Living in Somerset, NJ
Compared to national averages, Somerset has a median household income of $113,603 (51% above the national median of $75,149). Home values average $408,600, which is 67% above the national median. Monthly rent at $2,050 is 76% above the US average of $1,163. Within New Jersey, Somerset's income is 2% below the state average of $115,667, and home values are 13% below the state median of $469,644.
Why Live in Somerset, NJ?
Somerset offers a strong local economy with a median household income of $113,603, well above the national average, and a well-educated community where 58.6% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.1%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $408,600. However, Somerset’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Somerset has a population of 23,851 with a median age of 40.9 years. Compare Somerset with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Somerset
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| South Plainfield | 24,231 | $126,063 | $443,900 | Compare |
| Glassboro | 23,375 | $80,388 | $276,900 | Compare |
| North Plainfield | 22,667 | $83,529 | $350,700 | Compare |
| Carteret | 25,187 | $87,553 | $370,200 | Compare |
| Summit | 22,512 | $199,107 | $969,900 | Compare |
| Roselle | 22,455 | $82,967 | $336,500 | Compare |
| Hillsborough | 22,302 | $142,275 | $411,400 | Compare |
| Cliffside Park | 25,580 | $94,960 | $577,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Somerset With Other Cities
Frequently Asked Questions about Somerset
What is the population of Somerset, NJ?
The population of Somerset, NJ is 23,851 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Jersey.
What is the median household income in Somerset?
The median household income in Somerset, NJ is $113,603 per year, which is 51% above the national median of $75,149.
What is the median home value in Somerset?
The median home value in Somerset, NJ is $408,600, which is 67% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Somerset?
The median monthly rent in Somerset, NJ is $2,050, which is 76% above the national average of $1,163/month.
What is the unemployment rate in Somerset?
The unemployment rate in Somerset, NJ is 3.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Somerset, NJ a good place to live?
Somerset offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 23,851 and a median age of 40.9, the city appeals to a broad range of residents.
How educated is Somerset, NJ?
58.6% of residents in Somerset aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Somerset?
Key cost-of-living indicators for Somerset, NJ: median home value is $408,600 (67% above national), median rent is $2,050/month, and median household income is $113,603. The home-value-to-income ratio is 3.6x, a moderate figure by national standards.
What is the poverty rate in Somerset?
The poverty rate in Somerset, NJ is 6.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Somerset, NJ?
Somerset's population is 0.1% White, 1.6% Hispanic or Latino, 4.9% Black or African American, 6.5% Asian, and 30.6% two or more races. 27.5% of residents are foreign-born.