Rents are 5% below what Somerset's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,648 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Somerset is 1.9% below its high of $2,698 in November 2025, at $2,648 as of September 2026.
Rent in Somerset changed -0.7% over the year to September 2026. Across the 121 New Jersey cities Zillow tracks, the typical change was +3.1%.
Rent has fallen 4 months in a row, and rose in 5 of the last 12 months.
30% of the median household income ($121,028) is $3,026 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,010).
Bound Brook, 5 miles away, rents for 22% less ($2,070/mo), about $6,900 a year in savings.
From Zillow's monthly rent index (ZORI) for Somerset. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Somerset, NJ has changed in 5 years
Since 2022, the typical rent in Somerset, NJ has climbed from $2,315 to $2,648, a 14.4% change over five years. Median household income rose from $101,627 to $121,028 between 2021 and 2024, a 19.1% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. 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.
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Can you afford rent in Somerset on your salary?
At $2,648/mo, how Somerset rent compares to typical pay (30% rule).
Somerset rent by bedroom count
Median rent for each apartment size in Somerset. Click any size for full breakdown.
Tips for renters in Somerset
Last updated: October 17, 2026
The median rent in Somerset is $2,648/mo as of October 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 26% of local median household income ($121,028/yr), Somerset ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.7% over the past year.
Frequently asked questions
How much income do you need to rent in Somerset?
Is rent going up or down in Somerset?
How does Somerset rent compare to other cities in New Jersey?
Which nearby cities are cheaper to rent in than Somerset?
At $2,648/mo, rent takes ~26% of Somerset's median household income ($121,028/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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