HomeNew JerseySomerset CountySomerset CDP
Somerset CDP, New Jersey: commercial real estate data.
Somerset CDP is a Census CDP of 22,720 people across 6.33 square miles of land, in Somerset County. Median household income is $121,028, 72.9 percent of occupied homes are owned, and the SBA record carries 63 7(a) approvals to borrowers here worth $45.5 m.
76 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Somerset
What Somerset is
- Census place typeCDP
- Land area6.33 sq mi
- Water area0.13 sq mi
- Population per square mile of land3,590
- County holding the largest share of its areaSomerset County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Somerset
How many people live in Somerset
- Population22,720
- Median age41.3
- Population under 184,228
- Share under 1818.6 percent
- Population 65 and over3,905
- Share 65 and over17.2 percent
- Households9,492
- Family households5,756
- Share of households that are families60.6 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Somerset
Income and work in Somerset
- Median household income$121,028
- Per capita income$60,499
- Civilian labor force13,430
- Employed12,925
- Unemployed505 plus or minus 192
- Unemployment rate3.8 percent plus or minus 1.4
- Adults 25 and over16,710
- Adults 25 and over with a high school diploma or higher95.3 percent
- Adults 25 and over with a bachelor degree or higher62.0 percent
- Adults 25 and over with a graduate degree26.2 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Somerset
Housing in Somerset
- Housing units9,750
- Occupied units9,492
- Vacant units258 plus or minus 179
- Vacancy rate2.6 percent plus or minus 1.8
- Owner occupied6,922
- Renter occupied2,570
- Ownership rate72.9 percent
- Median owner-occupied home value$438,800
- Median gross rent, monthly$2,121
- Annual rent as a share of median income21.0 percent
- Single family units7,188
- Share single family73.7 percent
- Units in buildings of two or more2,547
- Share in buildings of two or more26.1 percent
- Mobile homes15 plus or minus 22
- Median year structure built1980
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Somerset
How Somerset gets to work
- Workers 16 and over who commute10,231
- Commuting under 15 minutes1,656 plus or minus 366
- Share commuting under 15 minutes16.2 percent plus or minus 3.3
- Commuting 30 minutes or more5,189
- Share commuting 30 minutes or more50.7 percent
- Drove alone66.1 percent
- Carpooled5.5 percent plus or minus 2.1
- Public transport6.6 percent plus or minus 2.9
- Walked1.0 percent plus or minus 1.0
- Worked from home20.4 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Somerset
SBA loans in Somerset (7(a))
- Approvals63
- Gross approval$45,548,700
- Average approval$722,995
- Median approval$200,000
- Ninetieth percentile approval$2,542,500
- Largest approval$5,000,000
- Jobs supported603
- Jobs per approval9.6
- Loans with a final outcome7
- Paid in full5
- Charged off2
- Median term120 months
- Share on real estate terms of 20 years or more11.1 percent
- Share to franchises11.1 percent
- Distinct lenders25
- Distinct industries by NAICS46
A charge-off rate is not published here. only 7 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Somerset
SBA loans in Somerset (504)
- Approvals12
- Gross approval$22,348,000
- Average approval$1,862,333
- Median approval$2,360,000
- Largest approval$3,843,000
- Jobs supported313
- Loans with a final outcome3
- Charged off0
- Median term240 months
- Distinct CDCs3
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Somerset County, not Somerset
Somerset County context, not Somerset figures
These are Somerset County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Somerset measurements.
- Establishments in Somerset County9,831
- Employment at those establishments, Somerset County188,127
- Covered employment, Somerset County190,468
- Average annual pay, Somerset County$106,418
- Average weekly wage, Somerset County$2,046
- Housing units permitted, Somerset County635
- Of those, single family, Somerset County320
- County product, 2024, Somerset County$54,494,111,000
- County product change over the prior year, Somerset County5.3 percent
- Average income of an arriving household, Somerset County$123,037
Every figure in this section is published for Somerset County as a whole and is not a measurement of Somerset. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Somerset questions, answered from the record.
How many people live in Somerset, New Jersey?
22,720, in 9,492 households. Somerset CDP covers 6.33 square miles of land, which is 3,590 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Somerset in?
Somerset County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Somerset?
$121,028. The median owner-occupied home is valued at $438,800. Median gross rent is $2,121 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Somerset businesses?
63 7(a) approvals totalling $45.5 m, across 25 lenders, median approval $200,000, plus 12 504 approvals worth $22.3 m. These count approvals to borrowers whose address is in Somerset, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Somerset borrowers get paid back?
No rate is published for Somerset. only 7 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Somerset figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Somerset County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Somerset.
Is zoning published for Somerset?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.