The housing market in Somerset, KY Metro Area is thriving. The median value of homes in the region is $175,800 - well below the US House Median Value of $338,100, making it a great option for homebuyers on a budget. The US has seen an 8.27% appreciation in its houses over the past year, but the housing in Somerset has seen even higher appreciation at 14.21%, indicating that now is a great time to invest in real estate there. This strong performance and affordability make Somerset an attractive destination for first-time buyers or those looking to relocate.
The median home cost in Somerset Metro Area is $175,800. Home appreciation the last 10 years has been 64.4%. Home Appreciation in Somerset Metro Area is up 16.7%.
Average Age of Homes
- The median age of Somerset Metro Area real estate is 33 years old
The Rental Market in Somerset Metro Area
- Renters make up 24.7% of the Somerset Metro Area population
- 2.0% of houses and apartments in Somerset Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.