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Somers Point, NJ—08244

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$437,000
4.2% YoY Growth
Household Income
$67,500
12.8% YoY Growth
Days on Market
54
36.0% Longer YoY
Home Price Forecast
4.4%
Median Rent
$2,300
15.1% YoY Growth
1-Bed Rent
$1,560
11.7% YoY Growth
2-Bed Rent
$2,400
13.6% YoY Growth
3-Bed Rent
$2,350
12.5% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Somers Point, NJ

As of May '26, the median home price in Somers Point, NJ is $437,000, with a year-over-year change of 4.2%. This indicates that home prices in Somers Point, NJ are increasing. According to Zillow, the 1-year price projection is 4.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$437,0004.2%
Single Family $435,0004.6%
Condos $467,0004.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$412,0005.6%
    3 Bed
    		$463,0004.8%
    4 Bed
    		$514,0005.1%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    3.3%
    1 Bedroom
    14.6%
    2 Bedrooms
    38.7%
    3 Bedrooms
    28.2%
    4 Bedrooms
    12.4%
    5+ Bedrooms
    2.7%

    Rental Trends — Somers Point, NJ

    As of July '25, Rentcast reports the average rent in Somers Point, NJ is $2,520, with a year-over-year rent change of 15.1%. Per bedroom, the median rent as of July '25 in Somers Point, NJ is 1-bedrooms: $1,590, 2-bedrooms: $2,420, 3-bedrooms: $2,740, 4-bedrooms: $5,220. The most common rental property sizes in Somers Point, NJ are 2-bedroom and 1-bedroom, accounting for 47.1% and 28.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,300$2,520
    Studio Rent N/AN/A
    1 Bed Rent $1,560$1,590
    2 Bed Rent $2,400$2,420
    3 Bed Rent $2,350$2,740
    4 Bed Rent $4,450$5,220
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    % of Rental Stock

    Studio
    6.9%
    1 Bedroom
    28.7%
    2 Bedrooms
    47.1%
    3 Bedrooms
    13.8%
    4 Bedrooms
    3.5%

    Property Listings — Somers Point, NJ

    As of May '26, Realtor.com reports that the median days on market for a home in Somers Point, NJ is 54. This is a increase of 36.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$517,000-5.0%
    Listing Count
    		8132.0%
    Listings as % of Homes0.8%32.0%
    Days on Market
    		5436.0%
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    Demographics — Somers Point, NJ

    As of the latest ACS Survey released in 2023, Somers Point, NJ has a population of 10,600, which has remained stable by 0.9% over the past 5 years. Somers Point, NJ is a moderately popular place for families, as children make up 19.0% of the population. The area has a moderately educated workforce, with 30.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		10,6000.9%
    % Under 18
    		19.0%-5.9%
    % Seniors
    		20.7%14.4%
    % WFH
    		8.6%109.8%
    % w/ College Degree
    		30.2%6.0%
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    As of the latest ACS Survey released in 2023, Somers Point, NJ is a predominantly white area, with 70.2% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Somers Point, NJ is hispanic, making up 15.5% of the population. Foreign-born residents account for 12.4% of the population in Somers Point, NJ, and this percentage has increased by 33.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		70.2%-0.4%
    % Black
    		9.0%-37.9%
    % Hispanic
    		15.5%59.8%
    % Asian
    		4.4%-6.4%
    % Foreign Born
    		12.4%33.3%
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    Mortgage and Risk — Somers Point, NJ

    According to HUD data as of 2023, there were 187 mortgage originations in Somers Point, NJ, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Somers Point, NJ. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		187
    % Conventional Loans
    		91.0%
    % Government Loans
    		9.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		21.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Somers Point, NJ

    As of 2024, the percent of homes in Somers Point, NJ under the Section 8 program is 9.0%. 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 Somers Point, 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
    		286
    Total Units Section 8
    		284
    % Rentals under Section 8
    		9.0%
    % Occupied Section 8
    		100.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$220$1,560$1,340
    2 Bedroom-$770$2,400$1,630
    3 Bedroom-$70$2,350$2,280
    4 Bedroom-$1,930$4,450$2,520

    Affordability — Somers Point, NJ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5
    Median Home Price$437,000
    Median Household Income$67,500

    Somers Point, NJ — ZIP Code Boundary Map

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    Frequently Asked Questions