Borough Center / Somersetin median real estate price is $994,511, which is more expensive than 84.0% of the neighborhoods in New Jersey and 88.6% of the neighborhoods in the U.S.
The average rental price in Borough Center / Somersetin is currently $3,626, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 69.1% of the neighborhoods in New Jersey.
Borough Center / Somersetin is a rural neighborhood (based on population density) located in Bernardsville, New Jersey.
Borough Center / Somersetin real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Borough Center / Somersetin neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Borough Center / Somersetin, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 88.5% of all neighborhoods in the U.S. This means that the housing supply in Borough Center / Somersetin is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.7% of America's neighborhoods are wealthier than the Borough Center / Somersetin neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Borough Center / Somersetin also has one of the lowest ratings of child poverty in the nation.
In addition, according to NeighborhoodScout's exclusive analysis, Borough Center / Somersetin is among the best neighborhoods for families in New Jersey. In fact, this neighborhood is more family-friendly than 99.9% of neighborhoods in the entire state of New Jersey. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Borough Center / Somersetin neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.
Also, the rate of college educated adults in the Borough Center / Somersetin neighborhood is a unique characteristic of the neighborhood. 79.8% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.7% of all U.S. neighborhoods.
Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 96.3% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Borough Center / Somersetin neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Real estate in the Borough Center / Somersetin neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.8% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.
In addition, one way that the Borough Center / Somersetin neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.0% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Borough Center / Somersetin neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 95.5% of all American neighborhoods.
Did you know that the Borough Center / Somersetin neighborhood has more Italian and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.0% of this neighborhood's residents have Italian ancestry and 30.2% have Irish ancestry.
Borough Center / Somersetin is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Borough Center / Somersetin neighborhood in Bernardsville are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.3% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Borough Center / Somersetin neighborhood, 68.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 29.8% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (2.4%).
The most common language spoken in the Borough Center / Somersetin neighborhood is English, spoken by 94.7% of households. Some people also speak German/Yiddish (2.8%).
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Borough Center / Somersetin neighborhood in Bernardsville, NJ, residents most commonly identify their ethnicity or ancestry as Italian (37.0%). There are also a number of people of Irish ancestry (30.2%), and residents who report German roots (16.2%), and some of the residents are also of Polish ancestry (9.2%), along with some English ancestry residents (8.0%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Borough Center / Somersetin neighborhood spend under 15 minutes commuting one-way to work (38.6% of working residents), one of the shortest commutes across America.
Here most residents (74.8%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.