Home prices
The median home price in Somerville is $322,000. Compared to nearby areas this is roughly $47,180 (12%) lower.It is about $104,500 (48%) higher in comparison to the entire nation, and compared to the city of New York it is roughly $284,000 (46%) lower.
Rents
In Somerville the median monthly rent is $1,388. In comparison to nearby areas this is about $185 (11%) lower.Compared to the rest of the country it is about $326 (30%) higher, and in comparison to the city of New York it is approximately $55 (3%) lower.
Nearby places
Raritan
Raritan is Somerville's neighbor to the west. Its real estate prices are somewhat more expensive. The value of the median home in Raritan is $343,600, which comes out to $21,600 (6%) higher than Somerville. Its rents are a little more expensive. The median monthly rent in Raritan is $1,672, which comes out to $284 (16%) higher than Somerville.
Finderne
Finderne is Somerville's neighbor to the east. The housing prices there are a bit less expensive. The median home cost in Finderne is $297,300, which comes out to $24,700 (8%) lower than Somerville. Its rents are a little more expensive. In Finderne the median rent is $1,574 per month, which is $186 (11%) higher than Somerville.
Manville
Manville is about 2 miles southeast from Somerville. The housing prices there are a bit less expensive. The median home in Manville is valued at $262,000, which works out to $60,000 (22%) lower than Somerville. Its rents are similar. The median rent in Manville is $1,355 a month, which comes out to $33 (2%) lower than Somerville.
Green Knoll
Green Knoll is about 2 miles north of Somerville. Real estate prices there are substantially more expensive. The value of the median home in Green Knoll is $482,500, which works out to $160,500 (33%) higher than Somerville. Its rents are somewhat less expensive. In Green Knoll the median rent is $1,161 per month, which is $227 (19%) lower than Somerville.
Bradley Gardens
Bradley Gardens is approximately 2 miles west of Somerville. Real estate prices there are a bit more expensive. Bradley Gardens's median home price is $460,500, which is $138,500 (30%) higher than Somerville. Rents there are substantially more expensive. In Bradley Gardens the median monthly rent is $2,101, which is $713 (33%) higher than Somerville.
