Summit, NJ has a population of 22,155, while the median age is 40. The household income in Summit, NJ is around $132,443. The homeownership rate among the residents is 71%. The median residential property value in Summit, NJ that you should keep in mind is $849,200.
|Number Of Employees||10,387|
|Median Property Value||$849,200|
|Rent Price||Jul||vs Last Month|
|1 bed rentals||$2,650||+76.7%|
|2 bed rentals||$3,250||+32.7%|
|3 bed rentals||$3,862||-11.1%|
|4+ bed rentals||$6,625||+23.1%|
Over the Jul 2022, the average rent for an apartment in/near Summit, NJ increased by 9.7% to $4,050.
Breaking it down in details, we now see that the average price for 1-bed apartment increased by 76.7% to $2,650. Pricing for 2-bed apartment also increased by 32.7% and a place of this size will now cost you $3,250. 3-bed apartment rent pricing starts at $3,862, it decreased by 11.1% lately. We tend to note the rise of 4- and more bed apartment pricing. It increased by 23.1% and made it up to $6,625.
|Rent Type Price||Jul||vs Last Month|
The median rent for an apartment in Summit, NJ increased by 19.9% to $3,975. Statistics show that house rent price increased by 27.4% this month making it up to $5,187. Condos faced an upward trend these days. The median rent for a condo increased by 57.8%, it’s now available for $4,300. An average duplex is now available for $3,700, cause median rent for a duplex remains the same this month. The median rent for a townhouse increased by 30.8%, you’ll have to spend around $2,616 to get one.