Housing costs in Somerset?
A typical home costs
$419,700, which is 24.1% more expensive than the national average of
$338,100 and 24.7% less expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Somerset costs
$1,490 per month, which is 4.2% more than the national average of
$1,430 and 43.6% cheaper than the state average of
$2,140.
Can I afford Somerset?
To live comfortably in Somerset, Massachusetts, a minimum annual income of
$80,280 for a family, and
$47,200 for a single person is recommended.
What does A.I. say about Somerset?
The cost of living in Somerset, MA is quite reasonable with the average home price being around $240,000. This is significantly lower than the national average of over $300,000 and the nearby area median of almost $400,000. Groceries, healthcare and transportation prices are also relatively low in Somerset meaning that cost of living expenses generally stay within budget for most households. There are also a number of tax exemptions available for those who qualify which can further reduce overall costs for residents. All in all, Somerset is an affordable place to live and enjoy all that this small Massachusetts town has to offer.