The story of this market
The typical home in ZIP 08873 sells for about $511,700, or $303 per square foot.
Prices are down 11.7% from a year ago, which gives buyers more room to negotiate. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $2,087 a month.
ZIP 08873 — Somerset
The 08873 housing market is currently experiencing a cooling phase with a year-over-year price decline of 11.7%, reflecting broader regional trends. Despite this, the market remains active with a median sale price of approximately $511,700 and a moderate supply of inventory. Buyers are finding more leverage as days on market have increased, signaling a shift toward a more balanced environment.
This ZIP is well-suited for family buyers and commuters seeking a balance between suburban living and access to major employment hubs in Central New Jersey.
Median prices moved down 11.7% year over year.
Homes spend a median of 32 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 5.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 08873, Somerset County NJ
The area is served by the Franklin Township Public Schools, which generally maintain a stable reputation within the regional educational landscape.
The region faces standard New Jersey climate risks, including potential for localized flooding and storm-related wind events; insurance premiums are influenced by these regional hazard profiles.
The area benefits from its proximity to major employment hubs in Central New Jersey and the pharmaceutical/biotech corridor, with ongoing residential and mixed-use development.
Property taxes are assessed at the municipal level by Franklin Township, with rates reflecting local school district and county requirements; New Jersey maintains one of the highest effective property tax rates in the nation.
Residents have access to major transit corridors including Route 27 and proximity to NJ Transit rail lines, facilitating commutes to New York City and regional employment centers.
The area features access to local parks and greenbelts, including the Six Mile Run Reservoir site, with various shopping and dining options along the Route 27 corridor.
The rental market is characterized by steady demand driven by proximity to regional employers, with a mix of multi-family complexes and single-family rentals.
The local economy is anchored by the pharmaceutical, biotech, and professional services sectors, benefiting from the broader Central New Jersey economic corridor.
The area is served by a network of state highways and is within reach of NJ Transit rail stations for regional commuting.
Ongoing development includes residential infill and mixed-use projects along major transit corridors.
Somerset County utilizes a county-wide assessment system to ensure equitable property valuations across municipalities.
Parcels are subject to Franklin Township municipal taxes, Somerset County taxes, and Franklin Township Public Schools levies.
Property insurance markets in New Jersey are stable but sensitive to regional weather-related risk factors.
New Jersey is a judicial foreclosure state, requiring court intervention for the foreclosure process.
New Jersey requires sellers to provide a comprehensive property disclosure statement regarding the condition of the home.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Supercharged Entertainment4.88.2 mi
- Sky Zone Trampoline Park4.217.3 mi
- Dave & Buster's Woodbridge - Middlesex4.212.5 mi
- Woodbridge Aquarium & Wildlife4.512.6 mi
- Urban Air Trampoline and Adventure Park4.214.1 mi
- Topgolf Edison4.38.3 mi
- Supercharged Entertainment4.88.2 mi
- PNC Bank Arts Center4.319.5 mi
- New Jersey Convention and Exposition Center4.49.3 mi
- Meximodo Metuchen – Cocina Mexicana & Tequila Bar4.79 mi
- AMC New Brunswick 183.85.7 mi
- Regal Commerce Center4.43.6 mi
- Lucky Strike North Brunswick4.34.3 mi
- Regal Hadley4.46.5 mi
- AMC DINE-IN Menlo Park 12410.5 mi
- BAPS Swaminarayan Akshardham4.816.8 mi
- Princeton University Art Museum4.812.4 mi
- NORTHLANDZ Train Museum & Miniature Wonderland4.615.6 mi
- Reeves-Reed Arboretum4.818.5 mi
- Princeton Battlefield State Park4.613.8 mi
- Duke Farms4.86.4 mi
- Colonial Park4.72.4 mi
- Roosevelt Park4.710.3 mi
- Duke Island Park4.78.5 mi
- Buttermilk Falls4.46.6 mi
- Topgolf Edison4.38.3 mi
- Neshanic Valley Golf Course4.510.6 mi
- Forsgate Country Club4.410.9 mi
- Tamarack Golf Course3.86.2 mi
- Royce Brook Golf Club3.74.3 mi
- Menlo Park Mall4.410.5 mi
- Bridgewater Commons4.48.1 mi
- Woodbridge Center4.412.5 mi
- Ross Dress for Less4.27.1 mi
- Newark Liberty International Airport3.722.6 mi
- Trenton-Mercer Airport3.921.6 mi
- Chico Express3.928.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Large state-managed area offering trails and open space.
Primary commercial artery with diverse retail and restaurant options.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.