Living in Somerset, Indiana
Cost of living, income, home prices, rent and demographics of Somerset · Census data 2020–2024
Somerset has 221 residents with a median age of 65.3. The median household income is $86,161 (20% higher than the Indiana median), the median home value is $110,000, the median rent is $668/month.
Somerset is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Somerset at a glance
- Population
- 221
- Median age
- 65.3State: 38.1
- Median household income
- $86,161State: $71,957
- Median home value
- $110,000State: $218,200
- Median rent
- $668/moState: $1,062
- Homeowners
- 70.7%
- Bachelor's degree or higher
- 7.6%
Is Somerset a good place to live?
Pros: Median household income 20% higher than the Indiana median; home values 50% lower than the state median; a poverty rate of 11.8%.
The weather is best in June to September.
Cost of living in Somerset
Housing is the biggest part of the cost of living. In Somerset the median home value is $110,000, 67% lower than the U.S. median. Renters pay a median of $668 per month, which is 33.1% of household income. Homeowners with a mortgage pay $901 a month in housing costs.
Somerset median household income
The median household income in Somerset is $86,161 and the income per person is $48,107. 11.8% of residents live below the poverty line (Indiana: 12.3%).
Housing in Somerset: homes for sale and rent
- Housing units
- 149
- Owner-occupied
- 70.7%
- Renter-occupied
- 29.3%
- Vacant
- 10.7%Includes seasonal homes
- Median year built
- 1980
- Average household size
- 1.66
Somerset demographics
- Population
- 221
- Median age
- 65.3
- Under 18
- 4.5%
- 65 and older
- 52.5%
- Households
- 133
- Foreign-born
- 0%
- Veterans
- 15.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Somerset ›
Education in Somerset
7.6% of adults 25 and older in Somerset have a bachelor's degree or higher (Indiana: 29.5%), and 0% have a graduate or professional degree.
Jobs and commute in Somerset
- Unemployment rate
- 0%State: 4.3%
- Average commute
- —State: 24 min
- Work from home
- 0%
- Drive alone
- 100%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 78.2%
Somerset vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Somerset | 221 | $86,161 | $110,000 | $668 |
| La Fontaine | 837 | $49,464 | $96,300 | $675 |
| Converse | 813 | $65,536 | $103,800 | $569 |
| Amboy | 338 | $51,667 | $121,300 | $800 |
| Sweetser | 1,061 | $80,625 | $153,400 | $1,063 |
| Wabash | 10,358 | $53,410 | $116,500 | $739 |
| Herbst | 309 | $40,366 | — | — |
| Swayzee | 846 | $65,391 | $121,000 | $925 |
| Marion | 27,531 | $43,343 | $85,300 | $805 |
More for people moving to Somerset
Somerset ZIP code ›Weather and climate ›Living in Somerset: FAQ
What is the median household income in Somerset, IN?
The median household income in Somerset is $86,161, 20% higher than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Somerset?
The median home value in Somerset is $110,000, compared with $218,200 in Indiana.
How much is rent in Somerset?
The median gross rent in Somerset is $668 per month, about 33.1% of household income.
Is Somerset, IN a good place to live?
Pluses: median household income 20% higher than the Indiana median; home values 50% lower than the state median; a poverty rate of 11.8%.
What is the median age in Somerset?
The median age in Somerset is 65.3 years (Indiana: 38.1).
What is the unemployment rate in Somerset?
The unemployment rate in Somerset is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Somerset?
7.6% of adults in Somerset have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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