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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 $430,083, lower than the Virginia average of $443,089.
The average cost of rent is $1,491/mo in Somerset, primarily driven by the current value of real estate in the Somerset area. In Somerset, 39.02% of households rent, and 41.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Somerset is $7,029 per month. Households that rent pay about 21.21% of their income on rent here. Somerset’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Montpelier Station, VA: less expensive homes
- Uno, VA: less expensive homes
- Barboursville, VA: equally priced homes
- Burnley, VA: higher priced homes
- Montford, VA: less expensive homes
- Radiant, VA: less expensive homes
- Rochelle, VA: less expensive homes
- Lindsay, VA: higher priced homes
- Gordonsville, VA: less expensive homes
- Ruckersville, VA: less expensive homes
Cities with Similar Populations
- Nineveh, TX: less expensive homes
- Princeton, ID: less expensive homes
- Princeton, CA: equally priced homes
- Pray, MT: higher priced homes
- Prairieburg, IA: less expensive homes
- Poydras, LA: less expensive homes
- Porter Springs, TX: less expensive homes
- Oakfield, ME: less expensive homes
- North Asheboro, NC: equally priced homes
- Noblestown, PA: less expensive homes
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