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 $1,093,134, higher than the Maryland average of $357,815.
The average cost of rent is $2,376/mo in Somerset, primarily driven by the current value of real estate in the Somerset area. While nearly 56.75% of residents own their homes outright in Somerset, 26.12% rent.
Housing affordability isn’t just about home prices, though. The average household income in Somerset is $12,085 per month. Households that rent pay about 19.66% 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.
Nearby Cities
- Chevy Chase Village, MD: higher priced homes
- Chevy Chase, MD: less expensive homes
- Chevy Chase Section Three, MD: higher priced homes
- Chevy Chase Section Five, MD: higher priced homes
- Martins Additions, MD: equally priced homes
- Bethesda, MD: less expensive homes
- Glen Echo, MD: less expensive homes
- North Chevy Chase, MD: less expensive homes
- Cabin John, MD: equally priced homes
- Chevy Chase View, MD: less expensive homes
Cities with Similar Populations
- Metamora, IN: less expensive homes
- Northfield, CT: less expensive homes
- North Bend, NE: less expensive homes
- Nellysford, VA: less expensive homes
- Mullens, WV: less expensive homes
- Morven, GA: less expensive homes
- Morgan, TX: less expensive homes
- Monongah, WV: less expensive homes
- Argenta, IL: less expensive homes
- Middlebourne, WV: less expensive homes
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