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City Report · NJ

Somerset

Pop. 22,720·73rd most expensive in New Jersey·Somerset rents are up 5.6% over the past year
Median rent (all units)
$2,720/mo
Year-over-Year
+5.6%
Month-over-Month
Stable
vs US Median
+$755
Stable (Monthly)
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Most AffordableMost Expensive
Somerset · $2,720
More expensive than 85% of US cities · National median $1,965/mo
Rent Reality Score
49/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Somerset's 10-year trend predicts.

Actual rent
$2,720/mo
Expected by trend
$2,708/mo
The Rent Reality Score compares today's median rent to where Somerset's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,610
1 BR
$1,810
2 BR
$2,270
3 BR
$2,740
4 BR+
$3,010
Research median
$2,270/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$32,640/yr
At $2,720/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (5.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+5.6% YoY, -0.0% MoM), not inventory.
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Demographics

Who lives here

Somerset, NJ is majority owner-occupied, has a median income above the national average, 62% of residents hold a bachelor's degree or higher.

Population
22,720
Median income
$121,028
Median age
41.3
Renters
27.1%
Age distribution
18.6%
22.4%
28.4%
13.4%
17.2%
Under 1818.6%
18–3422.4%
35–5428.4%
55–6413.4%
65+17.2%
Gender
49.6%
50.4%
Male49.6%
Female50.4%
Race & ethnicity
35.7%
28.7%
23.2%
White35.7%
Black28.7%
Hispanic11.6%
Asian23.2%
Other0.7%
Education (25+)
14.6%
18.7%
62%
No HS diploma4.7%
HS diploma14.6%
Some college18.7%
Bachelor's+62%
Housing tenure
72.9%
27.1%
Owner72.9%
Renter27.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Somerset, NJ has changed in 5 years

Rent
$2,261 → $2,720
up 20.3%
Income
$101,627 → $121,028
up 19.1%
Population
24,827 → 22,720
down 8.5%
Renter share
26.8% → 27.1%
+0.3 pts
Bachelor's+
55.9% → 62%
+6.1 pts
Median age
40.2 → 41.3
+1.1 yrs

Since 2022, the typical rent in Somerset, NJ has climbed from $2,261 to $2,720, a 20.3% change over five years. Median household income rose from $101,627 to $121,028 between 2021 and 2024, a 19.1% shift. The population has contracted by 8.5% since 2021, moving from about 24,827 residents to roughly 22,720. College-educated residents now make up 62% of adults here, versus 55.9% in 2021. Taken together, the five-year picture in Somerset, NJ reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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View Somerset rent history (2015–2026) →
Salary vs rent

Can you afford rent in Somerset on your salary?

At $2,720/mo, how Somerset rent compares to typical pay (30% rule).

By apartment size

Somerset rent by bedroom count

Median rent for each apartment size in Somerset. Click any size for full breakdown.

Local insights

Tips for renters in Somerset

About renting in Somerset, NJ

Last updated: July 20, 2026

The median rent in Somerset is $2,720/mo as of July 2026. A studio apartment averages $1,610/mo while a 2-bedroom runs $2,270/mo. One-bedroom apartments average $1,810/mo and 3-bedroom units go for $2,740/mo.

At 27% of local median household income ($121,028/yr), Somerset ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.6% over the past year.

FAQ

Frequently asked questions

Is Somerset an affordable city for renters?

Somerset is considered affordable for renters. At $2,720/mo, rent takes approximately 27% of the local median household income ($121,028/yr). The standard benchmark is 30%. Somerset falls comfortably within that range.

How much income do you need to rent in Somerset?

To keep rent at or below 30% of gross income, you would need to earn at least $109,000/year (~$52/hour full-time) to afford the median rent of $2,720/mo in Somerset. The local median household income is $121,028/yr, meaning the typical Somerset household meets that threshold.

Is rent going up or down in Somerset?

Rent in Somerset has increased 5.6% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Somerset rent compare to other cities in New Jersey?

Somerset is middle-of-the-pack for New Jersey for rent, ranking #73 out of 180 tracked cities at $2,720/mo.

Which nearby cities are cheaper to rent in than Somerset?

Several nearby cities have lower median rents than Somerset ($2,720/mo): Bound Brook ($2,118/mo), Piscataway ($2,669/mo), North Brunswick ($2,670/mo).

What percentage of Somerset residents rent vs. own?

According to Census data, approximately 27.1% of Somerset households are renters, while 72.9% are owner-occupied. Somerset leans toward homeownership, which can mean a smaller rental inventory.

How does Somerset rent compare to the national average?

Somerset's median rent of $2,720/mo is $755 (38%) above the US national median of $1,965/mo. Within New Jersey, it ranks #73 out of 180 tracked cities.
Income Affordability
27%
AFFORDABLE

At $2,720/mo, rent takes ~27% of Somerset's median household income ($121,028/yr). The standard benchmark is 30%.

Somerset 27%Benchmark 30%
State income tax1.4–10.75%
Run the Somerset affordability calculator →
Lowest-rent ZIP codes in Somerset
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Somerset, NJ

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