HomeNew JerseySomerset County
Somerset County, New Jersey: commercial real estate data.
Somerset County, New Jersey had an estimated 357,467 residents on July 1, 2024, up 3.5 percent since the 2020 census base of 345,362, across 302 square miles. County output reached $54.49 bn in 2024, 9,831 establishments operate here, and the SBA record carries 484 7(a) approvals worth $244.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Somerset County
How many people live in Somerset County
- Population, American Community Survey 2020-2024349,846
- Households130,802
- Average household size2.67
- Median household income$140,374
- Median age41.8
- Median gross rent$2,033 per month
- Median owner-occupied home value$552,100
- Home value to household income3.9 times
- Annual rent as a share of median income17.4 percent
- Adults 25 and over with a bachelor degree or higher57.8 percent
- Adults 25 and over with a graduate degree26.6 percent
- Adults 25 and over247,882
- Population under 1874,044
- Share under 1821.2 percent
- Population 65 and over59,537
- Share 65 and over17.0 percent
- Working age population, 18 to 64216,265
- Civilian labor force200,035
- Unemployment rate4.7 percent
- Labor force participation, adults 18 and over72.5 percent
- Rank by population among New Jersey counties13th of 21
- Rank by population among US county-equivalents, Puerto Rico included213th of 3,222
Somerset County is the 13th largest of 21 New Jersey counties by population. A median home costs 3.9 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.2 percent against 17.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Somerset County
Is Somerset County's population growing?
- Population, July 1, 2024357,467
- Census 2020 base population345,362
- Population change since the 2020 census base3.51 percent
- Population change, 2023 to 20245,372
- Births, 20243,239
- Deaths, 20242,508
- Natural change, 2024731
- Net domestic migration, 2024-17
- Net international migration, 20244,661
- Total net migration, 20244,644
- Cumulative net domestic migration, 2021 to 2024-1,546
- Rank by growth among US county-equivalents776th of 3,144
The county has grown 3.51 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Somerset County
Where are people moving to Somerset County from?
- Tax returns filed by households arriving11,171
- People arriving, from those returns19,492
- Tax returns filed by households leaving11,793
- Net household movement-622
- Adjusted gross income arriving$1.37 bn
- Net adjusted gross income movement$-646.4 m
- Average income of an arriving household$123,037
- Average income of a leaving household$171,361
- Largest single originMiddlesex County (2,713 households)
- Largest single destinationMiddlesex County (1,875 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Middlesex County | 2,713 | 4,954 | $242.2 m |
| Union County | 1,320 | 2,500 | $120.4 m |
| Morris County | 685 | 1,219 | $122.8 m |
| Hudson County | 540 | 1,007 | $87.9 m |
| Essex County | 524 | 973 | $62.9 m |
| Hunterdon County | 403 | 619 | $42.6 m |
| Mercer County | 358 | 626 | $47.6 m |
| Bergen County | 258 | 481 | $29.6 m |
Households arriving report $48,324 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Middlesex County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Somerset County
What is the Somerset County economy?
- County GDP, 2024$54.49 bn
- County GDP, 2023$51.76 bn
- GDP change, 2023 to 20245.3 percent
- GDP change over five years30.6 percent
- Rank by GDP among the New Jersey areas BEA publishes7th of 21
- Rank by GDP among the US county areas BEA publishes108th of 3,127
- GDP per resident$155,766
Output grew 5.3 percent in the latest year and 30.6 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Somerset County
Employment by industry in Somerset County
- Covered employment, annual average190,468
- Establishments reporting10,950
- Average annual pay$106,418
- Average weekly wage$2,046
- Professional, scientific and technical services, employment25,627
- Professional, scientific and technical services, average annual pay$162,074
- Health care and social assistance, employment24,063
- Health care and social assistance, average annual pay$61,905
- Retail trade, employment17,015
- Retail trade, average annual pay$44,794
- Manufacturing, employment15,552
- Manufacturing, average annual pay$127,994
- Administrative and support and waste management services, employment12,950
- Accommodation and food services, employment11,880
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Professional, scientific and technical services | 25,627 | 1,658 | $162,074 |
| Health care and social assistance | 24,063 | 1,834 | $61,905 |
| Retail trade | 17,015 | 921 | $44,794 |
| Manufacturing | 15,552 | 334 | $127,994 |
| Administrative and support and waste management services | 12,950 | 778 | $71,948 |
| Accommodation and food services | 11,880 | 771 | $32,905 |
| Wholesale trade | 11,347 | 570 | $146,275 |
| Management of companies and enterprises | 11,267 | 96 | $232,619 |
Professional, scientific and technical services is the largest private sector at 25,627 jobs, 13.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Somerset County
How many businesses are in Somerset County?
- Establishments, all industries9,831
- Employment at those establishments188,127
- Annual payroll$18.14 bn
- Establishments per 1,000 residents28.1
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Somerset County
Building permits in Somerset County
- Housing units authorized by permit, 2024635
- Declared construction value permitted$121.1 m
- Single family units authorized320
- Multifamily units authorized315
- Multifamily share of units49.6 percent
- Average declared value per unit$190,728
- Units authorized per 1,000 households4.9
Multifamily is 49.6 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Somerset County
SBA loans in Somerset County (7(a) and 504)
- 7(a) approvals recorded484
- 7(a) gross approval dollars$244.8 m
- Average 7(a) approval$505,849
- Median 7(a) approval$200,000
- 10th percentile approval$25,000
- 90th percentile approval$1,392,500
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)4,714
- Jobs per approval9.7
- Distinct 7(a) lenders active78
- Distinct industries receiving approvals181
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer12.8 percent
- Loans on real estate terms62
- Loans on working capital terms, 120 months or shorter390
- Franchise loans65
- Franchise share of approvals13.4 percent
- Leading industry by approval countBeauty Salons (18)
- Most active lenderTD Bank, National Association (99)
- 504 approvals recorded50
- 504 gross approval dollars$63.7 m
- Average 504 approval$1,273,160
- Median 504 approval$699,000
- Distinct CDCs active4
- 504 jobs per approval16.4
- 504 jobs per million dollars approved12.9
- Most active CDCTrenton Business Assistance Corporation (29)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$308.5 m
The average approval of $505,849 sits well above the median of $200,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 12.8 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Somerset County
SBA loan default and charge-off rates in Somerset County
Do SBA loans in Somerset County get paid back?
- Loans with a final outcome recorded76
- Paid in full68
- Charged off8
- Charge-off rate on resolved loans10.5 percent
- Status: Paid in full68
- Status: Exempt from disclosure311
- Status: Cancelled67
- Status: Charged off8
- Status: Committed, not yet disbursed30
Of the 76 loans that have reached a final outcome, 10.5 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Somerset County
SBA lending by place in Somerset County
- Borrower cities with recorded lending35
- Somerset, approvals63
- Hillsborough, approvals63
- Bridgewater, approvals41
- Somerville, approvals36
- Branchburg, approvals31
- Warren, approvals28
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Somerset | 63 | $45,548,700 |
| Hillsborough | 63 | $32,020,500 |
| Bridgewater | 41 | $12,766,300 |
| Somerville | 36 | $18,595,400 |
| Branchburg | 31 | $30,037,600 |
| Warren | 28 | $7,920,300 |
| Bedminster | 21 | $10,227,900 |
| Skillman | 21 | $7,526,900 |
| 27 other borrower cities | 180 | $80,187,200 |
Somerset accounts for 63 approvals against 63 in Hillsborough. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Somerset County
How large is Somerset County?
- Land area302 sq mi
- Rank by land area among New Jersey counties13th of 21
- Width, east to west19.7 mi
- Height, north to south26.5 mi
- Geographies sharing a boundary5
- Residents per square mile of land1,158
- Establishments per square mile32.55
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Somerset County
Flood risk in Somerset County
- Communities in the county in the NFIP Community Status Book21
- Of those, participating in the NFIP21
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 5
- Communities carrying a CRS class6
- Radon levels in Somerset County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The EPA places Somerset County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 5, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Somerset County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Somerset County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024349,846
- Households130,802
- Average household size2.67
- Median household income$140,374
- Median age41.8
Common questions
Somerset County questions, answered from the record.
How many people live in Somerset County, New Jersey?
The Census Bureau estimates 357,467 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 349,846, in 130,802 households, ranking 13th of 21 New Jersey counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Somerset County's population growing?
The population has grown 3.51 percent since the 2020 census base of 345,362, to 357,467 on July 1, 2024. In 2024 there were 3,239 births against 2,508 deaths, with net migration of 4,644. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Somerset County?
$140,374. The median owner-occupied home is valued at $552,100, which is 3.9 times income, and median gross rent is $2,033 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Somerset County?
9,831 establishments, employing 188,127 people with an annual payroll of $18.14 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Somerset County?
Professional, scientific and technical services is the largest private sector at 25,627 jobs, 13.5 percent of covered employment. Covered employment averages 190,468 jobs at an average annual pay of $106,418, or $2,046 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Somerset County?
484 7(a) approvals totaling $244.8 m since FY2020, across 78 lenders, with a median approval of $200,000, plus 50 504 approvals worth $63.7 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Somerset County get paid back?
Of the 76 loans that have reached a final outcome, 68 were paid in full and 8 charged off, a charge-off rate of 10.5 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Somerset County?
635 housing units were authorized by permit in 2024, with a declared construction value of $121.1 m. Multifamily was 49.6 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Somerset County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Somerset County come from?
The largest single origin is Middlesex County, with 2,713 households. Arriving households report an average income of $123,037 against $171,361 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Somerset County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Somerset County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Somerset County
Cities and places in Somerset.
50 Census places lie wholly or partly in Somerset County. All 50 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| North Plainfield | borough | 22,809 | 8 | Wholly in this county |
| Somerset | CDP | 22,720 | 63 | Wholly in this county |
| Hillsborough | CDP | 22,585 | 63 | Wholly in this county |
| Bradley Gardens | CDP | 14,165 | None recorded | Wholly in this county |
| Somerville | borough | 13,410 | 36 | Wholly in this county |
| Franklin Park | CDP | 13,211 | 8 | Wholly in this county |
| Bound Brook | borough | 12,219 | 19 | Wholly in this county |
| Martinsville | CDP | 11,559 | 6 | Wholly in this county |
| East Franklin | CDP | 11,070 | None recorded | Wholly in this county |
| Manville | borough | 10,921 | 10 | Wholly in this county |
| The Hills | CDP | 10,785 | None recorded | Wholly in this county |
| Blackwells Mills | CDP | 10,301 | None recorded | Wholly in this county |
| Raritan | borough | 8,368 | 13 | Wholly in this county |
| Basking Ridge | CDP | 7,917 | 18 | Wholly in this county |
| Bernardsville | borough | 7,916 | 16 | Wholly in this county |
| Green Knoll | CDP | 6,789 | None recorded | Wholly in this county |
| Franklin Center | CDP | 6,646 | None recorded | Wholly in this county |
| Bridgewater Center | CDP | 6,505 | None recorded | Wholly in this county |
| Finderne | CDP | 6,489 | None recorded | Wholly in this county |
| Watchung | borough | 6,485 | 13 | Wholly in this county |
| Belle Mead | CDP | 6,394 | 11 | Wholly in this county |
| Neshanic Station | CDP | 5,640 | None recorded | 93.8 percent here, 6.2 percent Hunterdon County |
| Lyons | CDP | 5,187 | None recorded | Wholly in this county |
| South Bound Brook | borough | 4,867 | 5 | Wholly in this county |
| Six Mile Run | CDP | 2,882 | None recorded | Wholly in this county |
| Peapack and Gladstone | borough | 2,571 | None recorded | Wholly in this county |
| Ten Mile Run | CDP | 2,492 | None recorded | Wholly in this county |
| Liberty Corner | CDP | 2,325 | 3 | Wholly in this county |
| Weston | CDP | 2,105 | None recorded | Wholly in this county |
| Middlebush | CDP | 2,049 | None recorded | Wholly in this county |
| Voorhees | CDP | 2,000 | None recorded | Wholly in this county |
| Bedminster | CDP | 1,670 | 21 | Wholly in this county |
| Kingston | CDP | 1,670 | None recorded | 73.4 percent here, 26.6 percent Middlesex County |
| Far Hills | borough | 948 | 1 | Wholly in this county |
| Flagtown | CDP | 930 | 2 | Wholly in this county |
| Rocky Hill | borough | 819 | 3 | Wholly in this county |
| Griggstown | CDP | 812 | None recorded | Wholly in this county |
| East Millstone | CDP | 698 | None recorded | Wholly in this county |
| Millstone | borough | 655 | None recorded | Wholly in this county |
| Neshanic | CDP | 626 | None recorded | Wholly in this county |
| Harlingen | CDP | 593 | None recorded | Wholly in this county |
| Pluckemin | CDP | 489 | None recorded | Wholly in this county |
| Pleasant Plains | CDP | 468 | None recorded | Wholly in this county |
| Lamington | CDP | 362 | None recorded | Wholly in this county |
| Skillman | CDP | 345 | 21 | Wholly in this county |
| Pottersville | CDP | 245 | None recorded | 35.5 percent here, 64.5 percent Hunterdon County |
| East Rocky Hill | CDP | 235 | None recorded | Wholly in this county |
| Clyde | CDP | 129 | None recorded | Wholly in this county |
| Blawenburg | CDP | 85 | None recorded | Wholly in this county |
| Zarephath | CDP | 17 | None recorded | Wholly in this county |
A further 144 of the county's 484 SBA 7(a) approvals are to borrowers in cities that match no Census place in Somerset County, the largest being Bridgewater (41), Branchburg (31), Warren (28). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby