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These days, finding an affordable place to live in the Somerset area can be challenging. Home prices in Somerset are now at a median cost of $757,950, higher than the Colorado average of $579,698.
The average cost of rent is $2,145/mo in Somerset, primarily driven by the current value of real estate in the Somerset area. In Somerset, 19.38% of households rent, and 27.15% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Somerset is $11,075 per month. Households that rent pay about 19.37% of their income on rent here. Somerset’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Marble, CO: equally priced homes
- Paonia, CO: less expensive homes
- Redstone, CO: higher priced homes
- Mount Crested Butte, CO: higher priced homes
- Hotchkiss, CO: less expensive homes
- Crawford, CO: less expensive homes
- Emma, CO: higher priced homes
- Crested Butte, CO: higher priced homes
- Lazear, CO: less expensive homes
- Maher, CO: less expensive homes
Cities with Similar Populations
- Opal, AR: less expensive homes
- Platten, NY: less expensive homes
- Perrin, MO: less expensive homes
- Pepsin, MO: less expensive homes
- Orienta, OK: less expensive homes
- Oreville, OH: less expensive homes
- Orange Mill, WI: less expensive homes
- Orange Bend, FL: less expensive homes
- Ophelia, VA: less expensive homes
- Opheim, MT: less expensive homes
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