Somerset County, New Jersey home prices
Typical home $656,346 · +2.7% in a year · property tax 1.81%
The typical home in Somerset County is worth $656,346, 14% more than the New Jersey typical home ($575,123). Values changed +2.7% in the past year and +31.9% over five years. Homeowners here pay a median 1.81% of their home's value in property tax each year ($11,889 on the typical home), versus 1.82% statewide.
Mortgage on the typical Somerset County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $131,269 | $525,077 | $3,532 | $0 | $1,319 | $4,851 | $207,900 |
| 10% down | $65,635 | $590,712 | $3,974 | $246 | $1,319 | $5,539 | $237,400 |
| 5% down | $32,817 | $623,529 | $4,195 | $260 | $1,319 | $5,773 | $247,400 |
| 3.5% down (FHA) | $22,972 | $644,458 | $4,335 | $290 | $1,319 | $5,945 | $254,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.81% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in New Jersey · part of the New York metro area.
New Jersey counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Essex County | $658,593 | +3.8% | 1.91% |
| Hudson County | $636,059 | +1.5% | 1.77% |
| Union County | $627,890 | +2.3% | 1.89% |
| Hunterdon County | $627,345 | +3.0% | 1.93% |
| Morris County | $701,797 | +3.9% | 1.72% |
| Passaic County | $597,668 | +4.5% | 2.18% |
| Middlesex County | $579,852 | +3.1% | 2.1% |
| Ocean County | $551,299 | +4.8% | 1.65% |
| Bergen County | $780,357 | +7.1% | 1.61% |
| Monmouth County | $786,951 | +7.2% | 1.65% |
Frequently asked questions
What is the average home price in Somerset County, NJ?
The typical home value in Somerset County is $656,346 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Somerset County?
About $207,900 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Somerset County?
The median effective rate is 1.81% of home value a year (Census ACS 2024 5-year estimates).