Housing costs in Somerset?
A typical home costs
$192,700, which is 43.0% less expensive than the national average of
$338,100 and 0.8% less expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Somerset costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 15.0% cheaper than the state average of
$920.
Can I afford Somerset?
To live comfortably in Somerset, Kentucky, a minimum annual income of
$37,080 for a family, and
$24,400 for a single person is recommended.
What does A.I. say about Somerset?
The cost of living in Somerset, KY is quite reasonable. Housing prices are below the national average, and utilities are also relatively inexpensive. The cost of food is competitive compared to other nearby cities, and transportation costs are minimal with most destinations being within a few miles. With an unemployment rate slightly lower than the national average, the city offers plenty of employment opportunities for those looking to stay in the area. Overall, the cost of living in Somerset, KY is quite affordable and provides a comfortable living standard for its residents.