City:
Somerville is a city in the state of new-jersey with a population of roughly 22,257. It is in Somerset County, New Jersey the New York-Newark-Jersey City, NY-NJ-PA core-based statistical areas (CBSA), and the New York-Newark, NY-NJ-CT-PA combined statistical area (CSA).Its Zip codes include 08876 .
Somerville, NJ is a rapidly growing city that has seen an influx of young professionals and families in recent years. The city has a population of around 120,000 and is located just north of Boston. Somerville was founded in 1694 and was originally known as Union Village. The city's economy is based on healthcare, technology, education, and finance.
Real estate in Somerville is very diverse. There are luxury apartments and condos available as well as starter homes for those just starting out in the city. The median price for a home in Somerville currently stands at $269,000 which indicates that there is plenty of opportunity to find a property that meets your needs.
The most popular type of real estate in Somerville right now seems to be condos. Condos are perfect for those who want to live close to the action but don't want to deal with high rent prices or long waitlists. There are plenty of condo developments available in the city including The Ritz-Carlton Residences at Assembly Row, One Beacon Street by Hines Interests LP, and Somerset Commons by AvalonBay Communities Inc..
If you're looking for something more affordable then you'll likely be happy with properties located in the suburbs of Somerville. There are many neighborhoods within walking distance of downtown such as Union Square South, West Somerville, Medford Square/Ward 8 (including Midtown), Arlington Heights/Ward 5 (including Downtown), North Ward 7 (including Davisville), Sullivan Square/Ward 6 (including Fenway-Kenmore), Everett Square/Ward 3 (including Downtown Crossing), Forest Hills Central/Ward 2 (including Allston-Brighton). Prices for homes located outside of the city center range from $200K-$400K which makes them great options if you're not looking for a luxurious lifestyle but still want access to all that the city has to offer.
Price Index: Newark, NJ-PA (MSAD)