Home Price Key
Affordable
Average
Expensive
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 $122,188, lower than the Indiana average of $175,617.
The average cost of rent is $599/mo in Somerset, primarily driven by the current value of real estate in the Somerset area. While nearly 44.27% of residents own their homes outright in Somerset, 13.10% rent.
Housing affordability isn’t just about home prices, though. The average household income in Somerset is $5,435 per month. Households that rent pay about 11.02% of their income on rent here. Somerset's most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Treaty, IN: higher priced homes
- Jalapa, IN: higher priced homes
- Mier, IN: equally priced homes
- Amboy, IN: higher priced homes
- Converse, IN: equally priced homes
- La Fontaine, IN: equally priced homes
- Peoria, IN: higher priced homes
- Santa Fe, IN: higher priced homes
- New Santa Fe, IN: equally priced homes
- North Grove, IN: higher priced homes
Cities with Similar Populations
- Mora, GA: higher priced homes
- Range, WI: higher priced homes
- Prospect Harbor, ME: higher priced homes
- North Chevy Chase, MD: higher priced homes
- Nocona Hills, TX: higher priced homes
- Nisqually Indian Community, WA: higher priced homes
- Newry, SC: higher priced homes
- New Bavaria, OH: higher priced homes
- New Alexandria, OH: less expensive homes
- Munsonville, NH: higher priced homes
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