Borough Center / Somersetin median real estate price is $1,077,029, which is more expensive than 87.0% of the neighborhoods in New Jersey and 90.7% of the neighborhoods in the U.S.
The average rental price in Borough Center / Somersetin is currently $3,827, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 71.9% 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 small apartment buildings. 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 2.0%, which is a lower rate of vacancies than 86.1% 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 Ä¢¹½ÊÓƵ'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 1.0% 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, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Borough Center / Somersetin neighborhood: a neighborhood in which more "urban sophisticates" live than 99.6% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. Ä¢¹½ÊÓƵ's research revealed that a full 80.3% of the adults living in the Borough Center / Somersetin neighborhood have earned at least a bachelor's degree. This is a higher rate than Ä¢¹½ÊÓƵ found in 97.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Finally, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to Ä¢¹½ÊÓƵ's research, the folks of the Borough Center / Somersetin neighborhood may actually hold the key. 71.8% of its residents are married, which is a higher percentage than is found in 97.6% of the neighborhoods in America.
Owner-occupied real estate dominates the Borough Center / Somersetin neighborhood. In fact, according to Ä¢¹½ÊÓƵ research, the percentage of residential real estate occupied by its owner is higher here than in 98.8% of neighborhoods in America.
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 97.7% 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, the Borough Center / Somersetin neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.4% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 95.5% of all neighborhoods in America.
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, 32.9% of this neighborhood's residents have Italian ancestry and 30.4% have Irish ancestry.
Borough Center / Somersetin is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 96.9% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. Ä¢¹½ÊÓƵ's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Borough Center / Somersetin neighborhood in Bernardsville are wealthy, making it among the 15% highest income neighborhoods in America. Ä¢¹½ÊÓƵ's exclusive analysis reveals that this neighborhood has a higher income than 99.0% 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, 67.4% 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 26.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.9%).
Languages
The most common language spoken in the Borough Center / Somersetin neighborhood is English, spoken by 96.4% of households.
Ethnicity / Ancestry
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 (32.9%). There are also a number of people of Irish ancestry (30.4%), and residents who report German roots (15.2%), and some of the residents are also of English ancestry (10.0%), along with some Polish ancestry residents (5.5%), 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 (36.3% of working residents), one of the shortest commutes across America.
Here most residents (68.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (8.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
