Housing costs in Somerset?
A typical home costs
$175,800, which is 48.0% less expensive than the national average of
$338,100 and 9.5% less expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Somerset costs
$770 per month, which is 46.2% cheaper than the national average of
$1,430 and 19.5% cheaper than the state average of
$920.
Can I afford Somerset?
To live comfortably in Somerset Kentu Metro Area, Kentucky, a minimum annual income of
$33,840 for a family, and
$23,200 for a single person is recommended.
What does A.I. say about Somerset?
The cost of living in Somerset, KY Metro Area is significantly lower than the US average. At 78.7, it is considerably below the national standard of 100. This difference has a significant effect on the housing market as well, with the median house value being around $175,800 compared to the national average of $338,100. This offers a more affordable option for those looking for a place to call home but without sacrificing quality and convenience of living in an urban area.