01 - Taxes
Retirement Tax Treatment
New Jersey levies a state income tax, but Social Security benefits are fully exempt from it.
Source · Tax Foundation
8
Fact text
- Somerset once housed one of the first Marconi Wireless Stations in the U.S., and its massive antenna used eight 400-foot steel masts to reach across the Atlantic.
- Welch's Fruit Snacks, yes, those classic gummy snacks, are made right in Somerset at a PIM Brands manufacturing plant.
- Somerset's old radio station used a 5,000-foot-long antenna, making it one of the most powerful transmitters of its era at 200 kilowatts.
- A Somerset swimmer, Judy Melick, competed for the U.S. at the 1972 Summer Olympics, not bad for a small New Jersey community!
Your
Somerset
Retirement Outlook — in 90 seconds
Hosted by Michael McMillan, President of Annuities.net
Every figure mentioned is drawn from the same sourced public data shown below — and the video updates as the data does.
24119
+
Total Population
$
93643
Median Income
$
321900
Median Home
17
%
Age 65+
Retirement Suitability
How
Somerset
ranks for retirees?
32
/ 100
A blended, sourced view of how this city ranks for retirees across tax, affordability, healthcare, and climate.
Tax
8
Affordability
61
Healthcare
29
Climate
38
Results
Somerset
Suitability Breakdown
02 - Income
Annuity Rates Available Here
Fixed annuity rates reach up to
7
% on 5-year terms, with most landing between
5
% and
5
%.
Source · Cannex
61
03 - Healthcare
Hospital Access & Quality
The area has
1
Medicare-certified hospitals, averaging a
3
/5 CMS quality rating.
Source · CMS Hospital Compare
3
04 - Climate
Weather & Comfort
A
Cold / Snowy
climate — summers peak near
83
°F, winters dip to about
24
°F, with roughly
28
″ of snow a year.
Source · NOAA Climate Normals
Cold / Snowy
05 - Risk
Natural Disaster Risk
FEMA's overall natural-disaster risk rating for this county on the National Risk Index.
Source · FEMA National Risk Index
Relatively Moderate
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