Somerset
county · 15 metrics · 5y change · report
Home value index, single-family
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2026-06-01 | $673,091 | zillow_zhvi | fips |
| 2026-05-01 | $673,333 | zillow_zhvi | fips |
| 2026-04-01 | $673,025 | zillow_zhvi | fips |
| 2026-03-01 | $671,765 | zillow_zhvi | fips |
| 2026-02-01 | $669,421 | zillow_zhvi | fips |
| 2026-01-01 | $667,616 | zillow_zhvi | fips |
| 2025-12-01 | $666,139 | zillow_zhvi | fips |
| 2025-11-01 | $663,539 | zillow_zhvi | fips |
| 2025-10-01 | $660,865 | zillow_zhvi | fips |
| 2025-09-01 | $659,048 | zillow_zhvi | fips |
| 2025-08-01 | $659,054 | zillow_zhvi | fips |
| 2025-07-01 | $660,242 | zillow_zhvi | fips |
| 2025-06-01 | $661,479 | zillow_zhvi | fips |
| 2025-05-01 | $662,220 | zillow_zhvi | fips |
| 2025-04-01 | $662,124 | zillow_zhvi | fips |
| 2025-03-01 | $660,771 | zillow_zhvi | fips |
| 2025-02-01 | $659,221 | zillow_zhvi | fips |
| 2025-01-01 | $657,661 | zillow_zhvi | fips |
| 2024-12-01 | $656,598 | zillow_zhvi | fips |
| 2024-11-01 | $655,342 | zillow_zhvi | fips |
| 2024-10-01 | $652,905 | zillow_zhvi | fips |
| 2024-09-01 | $649,471 | zillow_zhvi | fips |
| 2024-08-01 | $645,599 | zillow_zhvi | fips |
| 2024-07-01 | $641,640 | zillow_zhvi | fips |
Observed rent index, all homes
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2026-06-01 | $2,688 | zillow_zori | fips |
| 2026-05-01 | $2,680 | zillow_zori | fips |
| 2026-04-01 | $2,680 | zillow_zori | fips |
| 2026-03-01 | $2,666 | zillow_zori | fips |
| 2026-02-01 | $2,644 | zillow_zori | fips |
| 2026-01-01 | $2,656 | zillow_zori | fips |
| 2025-12-01 | $2,656 | zillow_zori | fips |
| 2025-11-01 | $2,679 | zillow_zori | fips |
| 2025-10-01 | $2,657 | zillow_zori | fips |
| 2025-09-01 | $2,655 | zillow_zori | fips |
| 2025-08-01 | $2,643 | zillow_zori | fips |
| 2025-07-01 | $2,643 | zillow_zori | fips |
| 2025-06-01 | $2,614 | zillow_zori | fips |
| 2025-05-01 | $2,602 | zillow_zori | fips |
| 2025-04-01 | $2,589 | zillow_zori | fips |
| 2025-03-01 | $2,581 | zillow_zori | fips |
| 2025-02-01 | $2,575 | zillow_zori | fips |
| 2025-01-01 | $2,564 | zillow_zori | fips |
| 2024-12-01 | $2,574 | zillow_zori | fips |
| 2024-11-01 | $2,553 | zillow_zori | fips |
| 2024-10-01 | $2,562 | zillow_zori | fips |
| 2024-09-01 | $2,572 | zillow_zori | fips |
| 2024-08-01 | $2,589 | zillow_zori | fips |
| 2024-07-01 | $2,578 | zillow_zori | fips |
Median household income
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2019-01-01 | $135,960 | census_acs | fips |
| 2018-01-01 | $131,948 | census_acs | fips |
| 2017-01-01 | $121,695 | census_acs | fips |
| 2016-01-01 | $116,510 | census_acs | fips |
| 2015-01-01 | $113,611 | census_acs | fips |
Current values
Each metric’s most recent reading, ranked against peers by value rather than by change. The MOD-IV assessment aggregates appear only here: they are a single published snapshot, and a change needs two observations.
| Metric | Value | Rank | As of | Source |
|---|---|---|---|---|
| Median gross rent | $1,921 | 1 / 21 | 2023-12-31 | census_acs |
| Median household income | $135,960 | 2 / 21 | 2023-12-31 | census_acs |
| Median owner-occupied home value | $523,900 | 4 / 21 | 2023-12-31 | census_acs |
| Total population | 346,203 | 13 / 21 | 2023-12-31 | census_acs |
| Renters paying over 30% of income on housing | 0.46 | 6 / 21 | 2023-12-31 | census_acs |
| Area median income (HUD) | $146,200 | 1 / 21 | 2024-12-31 | hud |
| Low-income limit, 80% AMI, 4-person household | $104,800 | 2 / 21 | 2024-12-31 | hud |
| Net migration, tax returns | -622 | 12 / 21 | 2022-12-31 | irs_migration |
| Residential units permitted | 678 | 15 / 21 | 2024-12-31 | census_permits |
| Home value to area median income | 4.36 | 14 / 21 | 2024-12-31 | hip_derived |
| Home value to household income | 4.27 | 11 / 21 | 2023-12-31 | hip_derived |
| Annual rent to household income | 0.22 | 3 / 18 | 2023-12-31 | hip_derived |
| Unemployment rate | 3.8% | 4 / 21 | 2025-12-31 | bls |
| Home value index, single-family | $673,091 | 6 / 21 | 2026-06-30 | zillow_zhvi |
| Observed rent index, all homes | $2,688 | 6 / 19 | 2026-06-30 | zillow_zori |
Interpretation
written by Gemma 4 E4B · ollamaThe underlying figures have changed since this was written. Treat it as out of date until it is regenerated.
Over the past several years, Somerset County has seen significant increases in housing costs and property values. The median gross rent rose by +20.5% between 2019 and 2023, and the Observed rent index, all homes, saw a substantial increase of +30.2% through 2026. Similarly, the median owner-occupied home value increased by +21.6% during the 2019-2023 window. These rising costs are set against a backdrop of declining housing supply, as residential units permitted dropped sharply by -56.4% between 2019 and 2024. While the median household income rose by +19.7% over the same period, the annual rent to household income ratio increased by +6.3%, and the percentage of renters paying over 30% of income on housing also rose by +3.9%.
The region's economic indicators show some positive momentum, with the total population increasing by +5.0% and the unemployment rate dropping by -26.9% between 2020 and 2025. Furthermore, the area median income (HUD) rose by +22.3% between 2020 and 2024, and the low-income limit for a four-person household increased by +27.0% during the same period. However, it is important to note that the Observed rent index is based on a thinner base and ranks against a smaller cohort than the home value index. When interpreting these figures, remember that consecutive estimates, such as the 5-year estimates, are not independent measurements due to overlapping vintages.
Generated by a local language model from this region's analysis packet. It is interpretation of computed metrics, not a measurement, and not advice.
Caveats
- ACS 5-year vintages overlap by four years, so consecutive estimates are not independent measurements and short windows understate the real separation.
- Affordability ratios are computed by this platform from two published series, not published by either source. The monthly value or rent series is averaged over the survey year to match the annual income denominator.
- Zillow's rent index begins in 2015 and covers far fewer places than its home-value index, so any rent figure rests on a thinner base — and ranks against a smaller cohort — than a value figure.
- HUD publishes income limits per county, so every AMI-based figure here is a county figure. HUD does not sanction allocating one down to a municipality.