Summit, New Jersey is a part of the Union County Submarket submarket area, and contains zip codes 07901 and 07902.
The 2019 average effective rent for Class A, B, and C apartments in the Summit, NJ submarket area was $1,470, which is 13.69% higher than 2014 average rent. This represents a compounded annual growth rate of 2.60%. 2019 vacancy in Summit, NJ was 4.50%.
The total population of the city of Summit, NJ has grown 2.61% since 2010. As of 2018, the population was 22,016. The median household income of the Summit was $146,755, which is 143.40% higher than the national average.