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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 $423,445, lower than the Massachusetts average of $625,090.
The average cost of rent is $1,100/mo in Somerset, primarily driven by the current value of real estate in the Somerset area. In Somerset, 13.18% of households rent, and 37.36% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Somerset is $10,006 per month. Households that rent pay about 11.00% of their income on rent here. Somerset’s most expensive areas are in the northeastern 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
- Swansea, MA: equally priced homes
- Assonet Bay Shores, MA: higher priced homes
- Fall River, MA: equally priced homes
- Dighton, MA: higher priced homes
- Assonet, MA: higher priced homes
- Warren, RI: equally priced homes
- Chartley, MA: higher priced homes
- Berkley, MA: higher priced homes
- North Dighton, MA: higher priced homes
- North Westport, MA: equally priced homes
Cities with Similar Populations
- Weehawken, NJ: higher priced homes
- Gibsonton, FL: less expensive homes
- Gilmer, TX: less expensive homes
- Glen Mills, PA: higher priced homes
- Windham, ME: equally priced homes
- Great Bend, KS: less expensive homes
- Great Falls, VA: higher priced homes
- Greenfield, MA: less expensive homes
- Greensburg, IN: less expensive homes
- Greenville, OH: less expensive homes
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