Commercial Real Estate Market in Somerset, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
90 active listings and 1,209 off-market properties in Somerset, NJ. Commercial property asks $97/SF to buy and $14.66/SF/Yr to lease.
Market Trends
Somerset, NJ spans 32.1 square miles. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Somerset, NJ runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Somerset, NJ runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Somerset, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Somerset, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
Somerset, NJ has 55,500 residents in 22,142 households. Density runs 1,727 people per square mile. Median household income here is $117,866 and median gross rent $1,942 a month.
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,727
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| New Brunswick | $152 (county avg) | $13.62 |
| Piscataway | $152 (county avg) | $17.04 |
| Milltown | $152 (county avg) | $19.79 |
| Highland Park | $152 (county avg) | $50.10 |
Commercial property in Somerset, NJ asks $97/SF. The 4 bordering markets run from $152/SF in New Brunswick to $152/SF in New Brunswick, and the city sits below their $152/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Somerset?
Commercial property in Somerset, NJ asks an average of $97 per square foot. The 6 most recent recorded sales traded at a median of $266/SF.
How much does it cost to lease commercial space in Somerset?
Asking lease rates in Somerset, NJ average $14.66 per square foot per year.
How does Somerset compare to nearby markets on price?
Somerset, NJ asks $97/SF against $152/SF in New Brunswick, $152/SF in Piscataway, $152/SF in Milltown and $152/SF in Highland Park.
Where does Realmo's Somerset market data come from?
Realmo compiles Somerset, NJ figures from 7 recent recorded sales, 40 active sale listings, 50 active lease listings, 1,209 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 October 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 40 active for-sale and 50 active for-lease listings in Somerset, NJ. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
