Living in Somerset, Maryland
Cost of living, income, home prices, rent and demographics of Somerset · Census data 2020–2024
Somerset has 1,088 residents with a median age of 51.2. The median household income is $250,001 (141% higher than the Maryland median), the median home value is $1,775,000, the median rent is $3,501/month.
Somerset is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Somerset at a glance
- Population
- 1,088
- Median age
- 51.2State: 39.4
- Median household income
- $250,001State: $103,678
- Median home value
- $1,775,000State: $419,900
- Median rent
- $3,501/moState: $1,705
- Homeowners
- 87.8%
- Bachelor's degree or higher
- 93.7%
- Average commute
- 33 min
Is Somerset a good place to live?
Pros: Median household income 141% higher than the Maryland median; unemployment of 2.3%; a poverty rate of 1.9%.
Cons: Home values 323% higher than the state median; an average commute of 33 minutes.
The weather is best in May–June and September–October.
Cost of living in Somerset
Housing is the biggest part of the cost of living. In Somerset the median home value is $1,775,000, 434% higher than the U.S. median. Renters pay a median of $3,501 per month, which is 28.2% of household income. Homeowners with a mortgage pay $4,001 a month in housing costs.
Somerset median household income
The median household income in Somerset is $250,001 and the income per person is $168,114. 1.9% of residents live below the poverty line (Maryland: 9.4%).
Housing in Somerset: homes for sale and rent
- Housing units
- 420
- Owner-occupied
- 87.8%
- Renter-occupied
- 12.2%
- Vacant
- 6.4%Includes seasonal homes
- Median year built
- 1954
- Average household size
- 2.77
Somerset demographics
- Population
- 1,088
- Median age
- 51.2
- Under 18
- 25.1%
- 65 and older
- 23.3%
- Households
- 393
- Foreign-born
- 19.3%
- Veterans
- 3.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Somerset ›
Education in Somerset
93.7% of adults 25 and older in Somerset have a bachelor's degree or higher (Maryland: 43.4%), and 68.5% have a graduate or professional degree.
Jobs and commute in Somerset
- Unemployment rate
- 2.3%State: 4.9%
- Average commute
- 33 minState: 31 min
- Work from home
- 42.6%
- Drive alone
- 26.4%
- Public transit
- 11.2%
- Walk to work
- 8.8%
- Homes with broadband
- 99.5%
Somerset vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Somerset | 1,088 | $250,001 | $1,775,000 | $3,501 |
| Friendship Heights Village | 4,002 | $119,384 | $484,300 | $2,289 |
| Chevy Chase Village | 1,903 | $250,001 | $2,000,001 | $3,501 |
| Chevy Chase | 2,906 | $250,001 | $1,670,600 | $3,501 |
| Chevy Chase Section Three | 887 | $250,001 | $1,605,600 | $3,501 |
| Chevy Chase Section Five | 803 | $250,001 | $1,643,100 | $3,501 |
| Martin's Additions | 1,012 | $250,001 | $1,535,200 | $2,303 |
| Bethesda | 69,397 | $192,237 | $1,169,900 | $2,469 |
| Brookmont | 3,671 | $247,150 | $1,361,100 | $2,878 |
More for people moving to Somerset
Somerset ZIP code ›Weather and climate ›Living in Somerset: FAQ
What is the median household income in Somerset, MD?
The median household income in Somerset is $250,001, 141% higher than the Maryland median of $103,678 (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 $1,775,000, compared with $419,900 in Maryland.
How much is rent in Somerset?
The median gross rent in Somerset is $3,501 per month, about 28.2% of household income.
Is Somerset, MD a good place to live?
Pluses: median household income 141% higher than the Maryland median; unemployment of 2.3%; a poverty rate of 1.9%. Minuses: home values 323% higher than the state median; an average commute of 33 minutes.
What is the median age in Somerset?
The median age in Somerset is 51.2 years (Maryland: 39.4).
How long is the commute in Somerset?
The average commute to work in Somerset is 33 minutes; 42.6% of workers work from home.
What is the unemployment rate in Somerset?
The unemployment rate in Somerset is 2.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Somerset?
93.7% 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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