Somerville, NJ 08876 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Somerville, NJ—08876

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$582,000

0.7% YoY Growth

Household Income

$121,000

26.6% YoY Growth

Days on Market

32.0% Longer YoY

Home Price Forecast

1.4%

Median Rent

$2,780

4.5% YoY Growth

1-Bed Rent

$2,250

7.1% YoY Growth

2-Bed Rent

$2,900

14.3% YoY Growth

3-Bed Rent

$3,100

4.2% YoY Growth

Home Price Trends — Somerville, NJ

As of Dec '25, the median home price in Somerville, NJ is $582,000, with a year-over-year change of 0.7%. This indicates that home prices in Somerville, NJ are flat. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$582,000	0.7%
Single Family	$602,000	0.3%
Condos	$417,000	3.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Somerville, NJ

As of July '25, Rentcast reports the average rent in Somerville, NJ is $2,790, with a year-over-year rent change of 4.5%. Per bedroom, the median rent as of July '25 in Somerville, NJ is studios: $1,890, 1-bedrooms: $2,260, 2-bedrooms: $3,040, 3-bedrooms: $3,220, 4-bedrooms: $3,750. The most common rental property sizes in Somerville, NJ are 1-bedroom and 2-bedroom, accounting for 43.4% and 40.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,780	$2,790
Studio Rent	$1,800	$1,890
1 Bed Rent	$2,250	$2,260
2 Bed Rent	$2,900	$3,040
3 Bed Rent	$3,100	$3,220
4 Bed Rent	$4,000	$3,750

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% of Rental Stock

Studio

5.2%

1 Bedroom

43.4%

2 Bedrooms

40.5%

3 Bedrooms

5.4%

4 Bedrooms

4.1%

5+ Bedrooms

1.3%

Property Listings — Somerville, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Somerville, NJ is 40. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$631,000	8.0%
Listing Count	41	-1.0%
Listings as % of Homes	0.4%	-1.0%
Days on Market	56	32.0%

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Demographics — Somerville, NJ

As of the latest ACS Survey released in 2023, Somerville, NJ has a population of 22,900, which has increased by 3.8% over the past 5 years. Somerville, NJ is a moderately popular place for families, as children make up 17.0% of the population. The area has a highly educated workforce, with 56.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	22,900	3.8%
% Under 18	17.0%	-20.6%
% Seniors	14.4%	7.5%
% WFH	17.0%	240.0%
% w/ College Degree	56.3%	10.4%

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As of the latest ACS Survey released in 2023, Somerville, NJ is a predominantly white area, with 61.1% of the population identifying as white. The white population has shrunk by 7.4% in the last 5 years. The second most common race or ethnicity in Somerville, NJ is hispanic, making up 15.4% of the population. Foreign-born residents account for 21.6% of the population in Somerville, NJ, and this percentage has increased by 6.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	61.1%	-7.4%
% Black	8.1%	26.6%
% Hispanic	15.4%	10.8%
% Asian	12.5%	3.3%
% Foreign Born	21.6%	6.4%

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Mortgage and Risk — Somerville, NJ

According to HUD data as of 2023, there were 322 mortgage originations in Somerville, NJ, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Somerville, NJ. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	322
% Conventional Loans	91.0%
% Government Loans	9.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Somerville, NJ

As of 2024, the percent of homes in Somerville, NJ under the Section 8 program is 10.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Somerville, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	367
Total Units Section 8	363
% Rentals under Section 8	10.5%
% Occupied Section 8	95.3%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$620	$2,250	$1,630
2 Bedroom	-$850	$2,900	$2,050
3 Bedroom	-$610	$3,100	$2,490
4 Bedroom	-$1,270	$4,000	$2,730

Somerville, NJ—08876

Key Metrics at a Glance

Home Price Trends — Somerville, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Somerville, NJ

% of Rental Stock

Property Listings — Somerville, NJ

Demographics — Somerville, NJ

Race and Ethnicity

Mortgage and Risk — Somerville, NJ

Mortgages

Rentals and Section 8 — Somerville, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Somerville, NJ

Home Price to Income Ratio

Somerville, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Whitehouse Station, NJ

Raritan, NJ

Bedminster, NJ

Flagtown

Branchburg Township, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.1
Median Home Price	$582,000
Median Household Income	$121,000

Somerville, NJ—08876

Key Metrics at a Glance

Home Price Trends — Somerville, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Somerville, NJ

% of Rental Stock

Property Listings — Somerville, NJ

Demographics — Somerville, NJ

Race and Ethnicity

Mortgage and Risk — Somerville, NJ

Mortgages

Rentals and Section 8 — Somerville, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Somerville, NJ

Home Price to Income Ratio

Somerville, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Whitehouse Station, NJ

Raritan, NJ

Bedminster, NJ

Flagtown

Branchburg Township, NJ

Frequently Asked Questions

What is the average home price in Somerville, NJ 08876?

How have home prices in Somerville, NJ 08876 changed over the past year?

What is the home price projection for Somerville, NJ 08876?

What are the demographics of Somerville, NJ 08876?

How long does it take homes to sell in Somerville, NJ 08876?

What is the average rent price in Somerville, NJ 08876?