Concept:
For an even number of observations, the median is the average of the two middle terms after arranging the data in ascending order.
Step 1: Arrange the observations in ascending order.
Given that $29<x<42$, the ordered data becomes
$$
7,\;12,\;13,\;19,\;x,\;48,\;54,\;61
$$
Step 2: Use the median formula.
There are $8$ observations, so
$$
\text{Median}
=
\frac{\text{4th term}+\text{5th term}}{2}
$$
$$
25=\frac{19+x}{2}
$$
Step 3: Solve for $x$.
$$
19+x=50
$$
$$
x=31
$$
Since $29<31<42$, the value is valid.
$$
\boxed{x=31}
$$