Somerset borough, PA is a small town located in Pennsylvania with a population of around 2,000 people. It is known for its affordable housing options, with the average two-bedroom rent being $790 compared to the US average of $1,430. Similarly, grocery costs are also lower than the national average index being 98 compared to 100 in the US.
The town is home to many local businesses such as Fisher’s Farm and Home Supply Hardware which has supplied essential items since 1995, The Bike Cupboard which provides bikes and board repairs since 1999 and J&J’s Grill & Pub which has been serving delicious meals since 2004. Additionally, there are a few medical centers such as Somerset Hospital and Rocky Mountain Physical Therapy that offer quality care.
Somerset has an unemployment rate of 7.9%. The US average is 6.0%.
Somerset has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 17.3%, which is lower than the US average of 33.5%.
Tax Rates for Somerset
- The Sales Tax Rate for Somerset is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Somerset is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Somerset
- The average income of a Somerset resident is $24,887 a year. The US average is $28,555 a year.
- The Median household income of a Somerset resident is $45,238 a year. The US average is $69,021 a year.