Housing & Real Estate — Summit, New Jersey
Overview
| Total Housing Units | 8,603 |
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| Occupied | 8,130 |
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| Vacant | 473 |
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| Owner-Occupied | 5,836 |
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| Renter-Occupied | 2,294 |
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| Median Home Value (Census) | $994,500 |
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| Estimated 2026 | ~$1,053,000 |
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| Median Rent | $2,308/mo |
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| Median Property Tax | $10,001/yr |
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Affordability
| Home Price to Income Ratio | N/Ax |
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| Home Affordability | expensive |
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| Rent as % of Income | 14.6% |
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| Severely Rent-Burdened | 38.6% |
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Housing Age
| Built 2010 or later | 198 |
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| Built 2000-2009 | 510 |
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| Built 1990-1999 | 113 |
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| Built before 1960 | 6,230 |
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| Median Year Built | 1953 |
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Sources: Census ACS 5-Year 2023; Census ACS 5-Year 2023, B25077; HUD FMR FY2026.
