Welcome to our 8873 real estate data hub, tailored for investors in Somerset, NJ. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 8873 in Somerset, NJ. Discover Section 8 housing opportunities and challenges to maximize your investment potential in SOMERSET COUNTY.
Leverage our comprehensive, zip code-specific data to excel in Somerset, NJ real estate investing. Uncover the wealth of information available, and position yourself for success in the Somerset property market.
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Location Overview
- Zip Code: 8873
- City: Somerset
- State: NJ
- Metro Area: New York-Newark-Jersey City, NY-NJ-PA
- County Name: SOMERSET COUNTY
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Real Estate Market Snapshot
- Average Home Price (All Types): $452,005
- Average Home Price (Single Family Homes): $472,504
- Average Monthly Rental Price (All Types): $2,546
- Price-to-Rent Ratio: 15
- Zillow Projected % appreciation from 4/2023-4/2024: -0.1%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $2,100
- Average 3 Bedroom Section 8 Rental Rates: $2,560
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 17.94
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 14.71
- Number of Units Offered in Section 8 in the County: 804
- Number of Occupied Units in Section 8 in the County: 796
- Percentage of Section 8 Units Occupied in the County: 99.09999847%
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Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): 163.55
- Total % Appreciation since 2000 (Government Data): 119.09
- YTD Appreciation (Backwards from 4/2023, Realtor Data): 1.8%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 5.49%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 23.57%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 34.51%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 55.52%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 22.45%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 66.45%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): -0.06%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 10.78%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%