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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 $159,715, lower than the Illinois average of $300,242.
The average cost of rent is $735/mo in Somerset, primarily driven by the current value of real estate in the Somerset area. In Somerset, 8.12% of households rent, and 60.03% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Somerset is $5,461 per month. Households that rent pay about 13.46% of their income on rent here. Somerset’s most expensive areas are in the eastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Rudement, IL: equally priced homes
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Cities with Similar Populations
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- Ben Hur, TX: higher priced homes
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