Housing costs in Somerville?
A typical home costs
$135,300, which is 60.0% less expensive than the national average of
$338,100 and 38.9% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Somerville costs
$840 per month, which is 41.3% cheaper than the national average of
$1,430 and 16.7% cheaper than the state average of
$980.
Can I afford Somerville?
To live comfortably in Somerville (zip 47683), Indiana, a minimum annual income of
$25,920 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Somerville?
The cost of living in 47683 Somerville, IN is quite reasonable. The median household income is just over $36,000 which is roughly 10% lower than the national average. In addition, the median home price in the area is around $117,000 which is significantly lower than other areas in the country. Taxes are also relatively low with the local sales tax rate sitting at 7%, making it cheaper to buy goods and services in comparison to other cities. All in all, the cost of living in Somerville makes it an attractive place to live for those looking for an affordable lifestyle.