Housing costs in Somerset?
A typical home costs
$153,100, which is 54.7% less expensive than the national average of
$338,100 and 21.2% less expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Somerset costs
$750 per month, which is 18.5% cheaper than the national average of
$920 and 2.7% cheaper than the state average of
$770.
Can I afford Somerset?
To live comfortably in Somerset (zip 42501), Kentucky, a minimum annual income of
$29,160 for a family, and
$22,800 for a single person is recommended.
What does A.I. say about Somerset?
Living in 42501 Somerset, KY can be quite affordable. The cost of living is generally lower than the national average for a variety of reasons. Groceries and health care costs are particularly low; housing prices are also very reasonable, with a median home value of $133,600 compared to the national median of $231,200. Property taxes are also on the lower end at an average of 0.71%, and utility rates are among the lowest in the country. Overall, residents in this area enjoy a good quality of life at an affordable cost.