Summit, NJ Real Estate
According to census data in the year 2000 there were 8,146 housing units in Summit.
This represents a 1.8% growth from 8,003 in 1990.
Of those housing units, 8,146 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Summit is about 68%.
Summit's vacancy rate, including seasonal lodging, is about 3.1%.
Average household size is 2.67 people.
The majority of houses, apartments or condos in Summit were built after 1949.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1% |
| One Bedroom | 10.70% |
| Two Bedrooms | 21.10% |
| Three Bedrooms | 30.80% |
| Four Bedrooms | 21.70% |
| Five Bedrooms or more | 14.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.9 |
| Median year structure was built | 1949 |
| Median Value of occupied units | $469,200 |
| Median Price asked for vacant units | $415,900 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.19 |
| Median year structure was built | 1949 |
| Median Monthly Rent asked for vacant units | $1,352 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.60% |
| Second Mortgage | 5.90% |
| Home Equity Loan | 10% |
| Simple Mortgage | 49.60% |
| Debt Free | 33.90% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.6% |
