Somerset, MA (02726) has a 2 bedroom rent at $1,570, which is slightly higher than the US average of $1,430. The local grocery cost index is 106 compared to 100 in the US as a whole. Somerset has many local businesses for its residents to support, such as Somerset Pharmacy, Somerset Schools Credit Union, and The Corner Stop Cafe & Catering. With a higher than average cost of living index (106), residents can expect to spend more on everyday items than other parts of the country.
Somerset (zip 02726) has an unemployment rate of 7.6%. The US average is 6.0%.
Somerset (zip 02726) has seen the job market increase by 3.9% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Somerset (zip 02726)
- The Sales Tax Rate for Somerset (zip 02726) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Somerset (zip 02726) is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Somerset (zip 02726)
- The average income of a Somerset (zip 02726) resident is $32,782 a year. The US average is $28,555 a year.
- The Median household income of a Somerset (zip 02726) resident is $95,307 a year. The US average is $69,021 a year.