Summit, NJ Overview

Serving as a magnet for potential homeowners, Summit City is known for progressive services and well-kept neighborhoods that show pride of ownership.  An older but prestigious community, Summit prides itself on its active town center and the quality and abundance of cultural, social, and recreational opportunities.  In 2000 the city's downtown business district underwent a sweeping beautification and update program.  Newcomers to the community will discover many beautiful, spacious homes on generous lots that are further enhanced by the city's location on the ridge of the panoramic Watchung Mountains.  The Summit Town Center as well as the famous Short Hills shopping centers are easily accessible to area residents.

Summary

Population Growth (since 2000) 3%
Population Density (ppl / mile) 3,630.00
Household Size (ppl) 2.753
Households w/ Children 41%

Housing Stability

Annual Residential Turnover 5%
5+ Years in Residency 40%
Median Year in Residency 3.94

Housing Inventory

Summit, NJ Housing Inventory 5,313 452 2,552 5,313 452 2,552

Market Overview

94 listings with an estimated median price of $1,024,500

Price Count
$200K - 300K 3
$300K - 400K 3
$400K - 500K 4
$500K - 600K 7
$600K - 700K 6
$700K - 800K 7
$800K - 900K 9
$900K - 1M 8
$1M - Max 47
Property Type Count
Single Family 67
Townhouse 1
Rental 49
Lots and Land 3
Condo/Town/CoOp 21
Multi Family 2

(Data as of 7/13/2020)

Population Demographics

The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.

Summit, NJ Population Demographics

Total: 21,766

Households:7,865

Median Age: 41.20

Climate and Weather

The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.

Temperature (degrees F)

Summit, NJ Temperature

Weather Risk

Summit, NJ Weather Risk

Education

The Community Educational Index chart is based on the U.S. Census Bureau's Socioeconomic Status (SES) elements. Factors used in creating the index below are income, educational achievement, and occupation of persons within the selected ZIP code. Since this index is based on the population of an entire Zip code, it may not reflect the nature of an individual school.

Education Climate Index

Summit, NJ Education Climate Index

Highest Education Level Attained

Summit, NJ Highest Education Level Attained 1,738 1,570 659 525 296 4,330 4,817 1,738 1,570 659 525 296 4,330 4,817

Employment and Finance

Workforce

Summit, NJ Workforce

Income by dollar range (Median Income: $123,930)

Summit, NJ Income by dollar range 246 168 82 361 160 208 128 310 124 358 490 593 736 504 1,992 566 772 67

Fair Market Rents

The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).

Studio
$1,044
One Bedroom
$1,099
Two Bedroom
$1,324
Three Bedroom
$1,695
Four Bedroom
$1,922

Smoking Ban

The Smoking Ban data indicates whether an area has a smoking ban in place for workplaces, restaurants or bars. This information represents that of the search area and may not reflect that of the whole County or State.

Workplaces
Yes
Restaurants
Yes
Bars
Yes

Crime

The Crime Index compares the risk or probability of future occurrence of certain types of crime in this community as compared to the national average. The national average for each type of crime equals a score of 1.0, so a score of 2.0 would represent twice the risk as the national average, and a score of 0.50 would represent half the risk of the national average.

Summit, NJ Crime

Start Searching Now!

Start your search for homes within Summit, NJ today.

Property Details
$ ,000
$ ,000
Property Types









Request More Information

Please fill out the following information and one of our agents will get back to you.