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Somerset, NJ · ZIP 07924 · Census Tract 34035052702 · 2027–2030 outlook · Forecasts as of March 2026
Current modeled value
$796K
Downside (P10)
$719K
-10% by 2030
Base Case (P50)
$897K
+13% by 2030
Upside (P90)
$1.14M
+43% by 2030
Base case: +13% by 2030, with a forecast range from -10% to +43%. The model forecasts this with 74% confidence.
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $627K | $656K | $703K | $723K | $763K | $796K | $836K | $898K | $897K | $794K |
| YoY Change | +4.6% | +7.2% | +2.9% | +5.4% | +4.3% | +5.1% | +7.4% | -0.1% | -11.5% | |
| Downside (P10) | $690K | $718K | $719K | $718K | ||||||
| Upside (P90) | $966K | $1.1M | $1.1M | $896K |
The forecast range is very tight for this market, indicating strong model confidence. Near-term outcomes are constrained and remain highly predictable through the full horizon.
1-Year Spread
$690K to $966K
32.9% of median
5-Year Spread
$718K to $896K
22.3% of median
Use these nearby areas to compare price level, upside potential, and forecast risk.
Areas with the most similar current median values
| Area | Current Value | 5yr Expected | 5yr Change | Trend |
|---|---|---|---|---|
| Bernardsville | $777K | $897K | +15.5% | |
| Montgomery | $775K | $888K | +14.7% | |
| Warren | $830K | $923K | +11.2% | |
| Far Hills | $812K | $888K | +9.3% | |
| Bernardsville | $839K | $911K | +8.6% | |
| Blackwells Mills | $796K | $839K | +5.4% |
Nearby areas where the model expects higher 5-year price growth
| Area | Current Value | 5yr Expected | 5yr Change | Trend |
|---|---|---|---|---|
| Bernardsville | $777K | $897K | +15.5% | |
| North Plainfield | $387K | $453K | +17.1% | |
| Hillsborough | $563K | $654K | +16.1% | |
| Somerset (Tract 053105) | $409K | $469K | +14.7% | |
| Montgomery | $775K | $888K | +14.7% | |
| Somerset (Tract 053102) | $494K | $565K | +14.4% |
Nearby areas with narrower forecast ranges (less uncertainty)
| Area | Current Value | 5yr Expected | Spread | Trend |
|---|---|---|---|---|
| Bernardsville | $777K | $897K | $418K | |
| Manville | $338K | $370K | $182K | |
| Hillsborough | $340K | $376K | $178K | |
| North Plainfield (Tract 052002) | $297K | $329K | $170K | |
| Franklin Park | $272K | $303K | $169K | |
| North Plainfield (Tract 051700) | $352K | $400K | $158K |
Forecasts are probabilistic model outputs, not guarantees. The model uses historical data and economic indicators; it does not observe property-specific conditions. This is not financial, investment, or real estate advice. Learn more about our methodology.
Model
Homecastr World Model (Schrödinger Bridge v12)
Forecast Horizon
2027 to 2030
Schema Version
forecast_queue
Citation
Hardesty Lewis, D. (2026). Homecastr Home Price Forecast. Retrieved from homecastr.com.
Data Sources
Deep dive into property-level home price forecasts for parcels in this area.