Median rent for residential apartments in as of May, 2020.
Be informed, make custom offers based only on median rent prices. But keep in mind, that price depends on size/amenities of the apartment.
40 Summit, NJ, USA apartments for rent
Summit
Summit, NJ has a population of 21,895, including 72% white, 15% latino, and 8% asian.
| Population | 21,895 |
| Median Age | 40.3 |
| Poverty Rate | 5% |
| Median Income (Household) | $136,491 |
| Number Of Employees | 10,338 |
| Median Property Value | $822,000 |
City Overview
The median household income in Summit, NJ is around $136,491, while the median age is 40.3. This city is a home to major universities: n/a, n/a, and n/a. 10,338 employees work in Summit, NJ. The homeownership rate among the residents is 71.85%. The median property value that you should keep in mind is $822,000.
Business & Economy
Wage by Common Jobs
Average salary: $64,349
- 1. Nursing, psychiatric, & home health aides$88,995
- 2. Elementary & middle school teachers$64,546
- 3. Retail salespersons$58,878
- 4. Cashiers$55,463
- 5. Secretaries & administrative assistants$53,865
Employment by Occupations
Numbers claim that the employment rate in Summit, NJ changed by 3%, so let’s see what are the most common job groups in this area. People of Summit, NJ prefer to work in Management, Business & Financial Operations and Sales.
| Material Moving | 0% |
| Fire Fighting Supervisors | 0% |
| Health Technicians | 0% |
| Law Enforcement Supervisors | 0% |
| Healthcare Support | 1% |
| Installation, Maintenance, & Repair | 1% |
| Community & Social Service | 1% |
| Life, Physical, & Social Science | 1% |
| Architecture & Engineering | 2% |
| Production | 2% |
| Arts & Recreation | 2% |
| Cleaning & Maintenance | 2% |
| Transportation | 3% |
| Construction & Extraction | 3% |
| Food & Serving | 3% |
| Legal | 4% |
| Computer & Mathematical | 4% |
| Personal Care & Service | 5% |
| Education, Training, & Library | 5% |
| Health Practitioners | 5% |
| Administrative | 9% |
| Sales | 12% |
| Business & Financial Operations | 14% |
| Management | 19% |
Employment by Industries
Keeping in mind that the employment rate changed by 3% recently, there must be a strong understanding of industries people of Summit, NJ work in. The most common industries are Finance & Insurance, Professional, Scientific, Tech Services and Healthcare & Social Assistance. Please note that not all the residents of Summit, NJ work in the area and may be employed outside of the city. Our data is tagged to their residential address, not the work address.
| Management of Companies & Enterprises | 0% |
| Utilities | 0% |
| Public Admin. | 1% |
| Real Estate, Rental & Leasing | 1% |
| Transportation & Warehousing | 2% |
| Wholesale trade | 3% |
| Arts, Entertainment, Recreation | 3% |
| Admin., Support, Waste Management Services | 3% |
| Construction | 3% |
| Other services, except public administration | 3% |
| Accommodation & Food Service | 4% |
| Information | 4% |
| Retail trade | 7% |
| Educational Services | 8% |
| Manufacturing | 11% |
| Healthcare & Social Assistance | 11% |
| Professional, Scientific, Tech Services | 14% |
| Finance & Insurance | 20% |
Demographics
Race & Ethnicity
According to latest census, Summit, NJ is a home for 72% white residents. The second common group is latino with 15% residents. The list of the most common racial or ethnic groups is closed by asian with 8% residents.
Non-English Speakers
Education
Past year Summit, NJ universities awarded around n/a degrees. Statistics show that the population of students in Summit, NJ include n/a male students and n/a female students. Summit, NJ offers private and public tuition with a median cost of $0 for private four-year colleges and $0 for in-state public four-year colleges. The largest university of this city is the n/a with the majority of graduates. The n/a and n/a hold the second and the third place respectively. The share of the public colleges in Summit, NJ is n/a% and n/a% go to the private colleges.
Health and Safety
The age groups that most likely have the health care coverage in Summit, NJ are 6-17 years old for men and 6-17 years old for women. Summit, NJ offers a 67 primary care clinician to 1 patient ratio. Data records state that dentists ratio is 83 to 1, speaking of mental health doctors ratio, it’s 160 to 1 resident.
Clinician to Patient Ratios
| Primary Care | 1 to 67 |
| Dentists | 1 to 83 |
| Mental Health | 1 to 160 |
| Other | 1 to 39 |
Transportation
Commute Time
Average travel time: 31.52 minutes
- USA
- Summit, NJ
Commuter Transportation
The workers of Summit, NJ traveled to their offices around 31.52 minutes lately and drove alone to get there. The rest of the residents used public transit and railed.
- USA
- Summit, NJ
Housing Trends
Summit, NJ, USA Housing Trends
Average rent in Summit: $2,679 (-22.4%)
| Rent Price | May | vs Last Month |
|---|---|---|
| 2 bed apartments | $2,475 | -2.5% |
| 3 bed apartments | $3,900 | +27.6% |
| 4+ bed apartments | $6,975 | N/A |
| Rent Type Price | May | vs Last Month |
|---|---|---|
| House rentals | $3,900 | -24.5% |
| Townhouse rentals | $2,883 | +1.3% |
| Apartment rentals | $2,050 | -14.5% |
| Duplex rentals | $2,900 | N/A |
| Condo rentals | $1,950 | -7.4% |
| Loft rentals | $2,200 | -8.3% |
Over the May 2020, the average rent for an apartment in/near Summit, NJ decreased by 22.4% to $2,679. Pricing for 2-bed apartment also decreased by 2.5% and a place of this size will now cost you $2,475. 3-bed apartment rent pricing starts at $3,900, it increased by 27.6% lately. Consequently, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $6,975 for a big-family home.
The median rent for an apartment in Summit, NJ decreased by 14.5% to $2,050. Statistics show that house rent price decreased by 24.5% this month making it up to $3,900. Condos faced an upward trend these days. The median rent for a condo decreased by 7.4%, it’s now available for $1,950. An average duplex is now available for $2,900, cause median rent for a duplex remains the same this month. The median rent for a loft faced changes as well, it decreased by 8.3%, the price tag now starts at$2,200. The median rent for a townhouse increased by 1.3%, you’ll have to spend around $2,883 to get one.
Rent vs Own
- Rent72%
- Own28%
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