The Somerset Census Designated Place had a population of 23,639 as of July 1, 2019. Somerset ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.
The primary coordinate point for Somerset is located at latitude 40.4976 and longitude -74.4885 in Somerset County. The formal boundaries for the Somerset Census Designated Place encompass a land area of 6.33 sq. miles and a water area of 0.12 sq. miles. Somerset County is in the Eastern time zone (GMT -5). The elevation is 92 feet.
The Somerset Census Designated Place (GNIS ID: 2390312) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.
HOUSING AFFORDABILITY INDEX
|Somerset, NJ Housing Affordability Index is 125 |
State of New Jersey Housing Affordability Index is 91
|The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.|
|Somerset, NJ Wealth Index is 159 |
State of New Jersey Wealth Index is 148
|The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.|
These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.
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|Total Population||23,639 (100%)|
|Population in Households||23,077 (97.6%)|
|Population in Families||18,753 (79.3%)|
|Population in Group Quarters1||562 ( 2.4%)|
|Median Household Income||$103,655|
|Average Household Income||$124,718|
|Per Capita Income||$47,997|
|Total Housing Units||9,455 (100%)|
|Owner Occupied HU||6,368 (67.4%)|
|Renter Occupied HU||2,728 (28.9%)|
|Vacant Housing Units||359 ( 3.8%)|
|Median Home Value||$332,615|
|Housing Affordability Index3||125|
|Average Household Size||2.54|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||1.96%|
|Per Capita Income||2.81%|
The table below compares Somerset to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
|Total Population||# 43||92nd|
|Population Density||# 175||68th|
|Diversity Index||# 64||89th|
|Median Household Income||# 162||70th|
|Per Capita Income||# 198||64th|
Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.