Market Overview
Home Prices in Somerville, NJ
The median home value in Somerville, NJ is $556,167 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.4% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Somerville are priced36% above average. Somerville is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Somerville home values have risen by approximately38.4%, reflecting strong long-term appreciation in this market.
Price History
Somerville Home Price Trend
City Comparison
Somerville vs. National Median
At $556,167, homes in Somerville cost 36% above the national median of $410,000. Buyers in Somerville should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Somerville?
20% Down Payment
$111,233
on $556,167
Monthly P&I
$2,901/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,684/mo
incl. taxes & insurance
Income Needed
$147,360
gross annual (30% rule)
10% Down Option
$55,617
+ PMI applies
Loan Amount (20% dn)
$444,934
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Somerville, NJ?
The median home value in Somerville is $556,167 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.4% year-over-year.
How much have home prices changed in Somerville?
Over the past year, home values in Somerville have increased by 3.4%. Over five years, prices have risen approximately 38.4%.
How much do I need to earn to buy a home in Somerville?
To comfortably afford the median home price of $556,167 with a 20% down payment ($111,233) at today's rates (6.8%), you'd need a gross annual income of approximately $147,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Somerville compare to the national average home price?
The national median home value is approximately $410,000. At $556,167, homes in Somerville are 36% above the national average.
What metro area is Somerville part of?
Somerville is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.