You’re thinking of buying a home in Somerset, New Jersey. You like the idea of owning property just a hop, skip, and jump away from NYC. While some people don’t think that New York has suburbs, that’s exactly what you’ll find in Somerset, a community located inside Franklin Township.
The community population is under 22,000+, which beats the density of the city. Still, you’ll find many of the amenities you could ask for. And, you won’t find a better real estate tax rate.
Here, read about the current real estate market, crime statistics, and some advice from the locals. Use what you learn to empower your decision whether or not to shop for real estate in Somerset, New Jersey.
First, a Somerset, NJ Housing Market Summary
One of the first items you need to address before you invest in real estate anywhere is the current state of the housing market. Here is the present real estate trend in Somerset.
As you can see from RealtyTrac, the median listing price for homes in Franklin Township is $199,000. This is 43% lower than the New Jersey state’s median average listing price of $345,000. And, it’s 24% lower than the national average of $259,000.
How Much is Real Estate Tax in Somerset?
Now, you want to know how much you’re going to pay in property taxes. And, according to the State of New Jersey Division of Taxation, the median average property tax in Somerset County is 2.479%. Real estate taxes in all of Somerset County range from 1.357% to 3.6%. And, Franklin Township/ Somerset, New Jersey residents paid a 2.187% tax on property last year.
Next, See Crime Statistics for Somerset, NJ 08873
Especially if you have children, safety is a major determining factor in where you live. And, Somerset happens to be safer than 53% of US cities, according to Neighborhood Scout.
Furthermore, data shows that the annual number of violent crimes in Somerset is only 19. So, you have a mere 1 in 1,230 chance of falling victim to violence. Somerset is 61% safer than the rest of New Jersey where the violent crime rate is 1 in 481.
The safest part of Somerset is Zarephath/Somerset Christian College, located between Manville and Ukranian Village.
The top 5 safest spots in Somerset are:
- Zarephath/Somerset Christian College
- Town Center
- Demott Lane/Easton Avenue
- Middlebush
- East Millstone/Blackwell Mills
So, take a drive through these areas before you decide what part of the community you might want to invest in.
Local Tips for Making the Most of the area
Undoubtedly, the best way to get to know an area is to experience the local community. Here’s what current residents would want you to know about getting the most out of the Somerset community while you’re here.
Visit the Rudolf W. Van der Goot Rose Garden at Least Once
One of the most beautiful attractions in Somerset is the Rudolf W. Van der Goot Rose Garden. Whether you’re visiting or living in the area, you can’t afford not to see it.
Both locals and tourists rave about the gardens. The serene ambiance will help you recharge your batteries. Be sure to bring your camera because there are sure to be a ton of photo opportunities.
Take Advantage of the Plethora of Nearby Activities
Living in Somerset, you are close to tons of fun activities. See a Somerset Patriots baseball game in Bridgewater. Watch a movie at AMC New Brunswick 18. Or, just get out and mingle with the local college students for a surprise experience. If you do, you’re sure to become part of the Somerset family right away.
Conclusion – work with a local realtor
To make a truly informed decision about Somerset, New Jersey real estate, you will have to see the community for yourself. So, let us be your guide! Call NJ Central Real Estate Somerset Office today at (848) 702-0858 to discuss your move or investment opportunities with a licensed agent.