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Economic Atlas
Places/NJ/Somerset
County profile

Somerset

United States · GDP 2024
#108 of 3,127 US counties by GDP61st-percentile growthmore diversified than 99% of counties
EA Place Score
——
methodology in progress
GDP 2024 (USD)
$54.5B
GDP growth
+5.3%
Jobs tracked
188,127
Employers
9,831
Avg. wage
$102.2k
Population
356,486
Labor & formation
Unemployment
3.7%
Median HH income
$140.4k±$3.3k
Business applications
8,769 · 2025

Public companies headquartered here

SEC EDGAR · FMP
CompanySectorRevenueEA
1Freshpet, Inc.Consumer Defensive$1.1B76B+2Peapack-Gladstone Financial CorporationFinancial Services$283.0M61C3CareCloud, Inc.Healthcare$120.5M73B4MCAP Inc.Technology$104.7M61C5Matinas BioPharma Holdings, Inc.Healthcare$1.1M32D6Authentic Holdings, Inc.Consumer Cyclical$398.6k——7Lisata Therapeutics, Inc.Healthcare$170.0k40D8VioQuest Pharmaceuticals, Inc.Healthcare$0——9SR Bancorp, Inc. Common stockFinancial Services———10Verde Clean Fuels, Inc.Utilities———11GPGI, Inc.Industrials———12Legend Biotech CorporationHealthcare———

HQ-based placement with total (global) headcount — local employment attribution needs firmographic data; the industry mix at right is measured county data (CBP).

Industry mix · employment
Professional services25%
Health care20%
Retail trade15%
Wholesale trade15%
Manufacturing13%
Information11%
share of top-6 sector employment · CBP 2023
Population & migration
Census PEP · 2020–2025
356,486
residents · 2025 · +3.5% since 2020
Income per capita $121.0k · BEA 2024
COMPONENTS OF CHANGE · 2021–2025
Domestic migration−2,882
International migration+11,628
Natural change+3,111

GDP trend

2019–2024 · nominal
$41.9B
2019
$41.7B
2020
$44.7B
2021
$49.2B
2022
$51.8B
2023
$54.5B
2024

Real estate & risk

FHFA · ACS · FEMA
Median home value
$552.1k±$7.4k
Median gross rent
$2.0k/mo±$52/mo
Vacancy rate
2.1%±0.3%
Affordability
5.4× wages
Residential permits
763 (2.1/1k pop)
FEMA risk score
90.9
HUD Fair Market Rent (2BR):$2.5k/mo · 2026
TOP PERILS · FEMA NRI
Winter weather 94Strong wind 94Ice storm 91
FHFA HOUSE PRICE INDEX · 2016–2025
740
2016
749
2017
771
2018
783
2019
798
2020
863
2021
979
2022
1071
2023
1175
2024
1249
2025

Transport access

BTS · FAA · USACE
Nearest interstate
2.3 km
I-287
Nearest freight rail
0.3 km
NJT
Nearest port
24.1 km
GPU GENERATION CO SAYREVILLE GEN STA WHARF
Nearest commercial airport
36.1 km
TRENTON MERCER
Filing activity
SEC EDGAR

38 filings from 8 companies here in the last 90 days.

8-KSR Bancorp, Inc. Common stock07-10
8-KMatinas BioPharma Holdings, Inc.06-26
8-KCareCloud, Inc.06-26
8-KFreshpet, Inc.06-24
6-KLegend Biotech Corporation06-22
8-KSR Bancorp, Inc. Common stock06-18
8-KVerde Clean Fuels, Inc.06-15
6-KLegend Biotech Corporation06-15
8-KFreshpet, Inc.06-11
8-KLisata Therapeutics, Inc.06-09
Wage trend
BLS QCEW · 2019–2023
$102.2k
avg. annual pay · +14% since 2019
Similar US counties
nearest by GDP
Macomb$54.2BLee$54.2BBernalillo$54.8BEl Paso$55.1BEl Paso$53.3BDurham$53.3B
The read

Somerset's economy produced $54.5B in 2024, growing 5.3% year over year — faster than most US counties. Its largest employment sector is professional services.

GDP: BEA (2024), USD-normalized · Jobs/employers/wages & industry mix: Census CBP (2023) · Population & migration: Census PEP · Income: BEA CAINC1 · Companies: SEC EDGAR + FMP, by HQ.
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