States › Kentucky › Somerset

Is Somerset, KY expensive to live in?

ExpensiveRent takes 31 cents of every $1 people earn here.
🏠 Rent per month (2026)$98244% lower than U.S. average
💵 Families earn per year (2026)$37,428about $3,119/month · 57% lower than U.S. average
🔑 House price$144,00057% lower than U.S. average

Rent is lower than in 89% of U.S. cities. A typical house costs about 3.8 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $39,280 a year. That is $19 an hour at a full-time job.

Is rent cheaper than other Kentucky cities?

Yes. Rent here is cheaper than in most of Kentucky. It is number 21 of 87 cities from cheapest to most expensive.

Somerset
$982
Lawrenceburg
$989
Campbellsville
$954
Fort Campbell North
$1,553
Lyndon
$1,509
Bardstown
$1,161
Newport
$1,613

How much do households earn in Somerset?

Under $25k
33.3%
$25k–50k
24.6%
$50k–100k
17.9%
$100k–150k
8.2%
$150k+
5.4%

Share of households by yearly income. 13.6% of households earn $100,000 or more.

Rent by apartment size in Somerset

SizeSomersetU.S. average
1 bedroom$460$1,324
2 bedrooms$755$1,509
3 bedrooms$953$1,698
4 bedrooms$1,221$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Somerset overall?

Everyday prices in Kentucky overall are 10% below the U.S. average (index 90.2, U.S. = 100).

Housing
64
Goods (food, clothes…)
96
Utilities
75
Other services
97
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Somerset, so the Kentucky figure is shown.

Taxes and bills in Somerset

🏛️ Property tax$1,178a year · 0.82% of home value · U.S. $3,119
⚡ Electric bill$133a month (typical) · U.S. $156

Life in Somerset

Commute to work23.7 minU.S.: 26.4 min
College degree19.9%U.S.: 35.7%
Own their home48.9%U.S.: 65.2%
Below poverty line27.2%U.S.: 12.5%
Unemployment8.7%U.S.: 5.2%

Is it cheaper to rent or buy in Somerset?

About the same. Renting and owning cost within $17 of each other each month.

Renting
$982
Owning
$999

Owning assumes a typical $144,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $14,400 for the down payment.

Frequently asked questions

What is the average rent in Somerset, KY?

Renting in Somerset costs a median of about $982 a month in 2026, including utilities. The Kentucky median is $1,175.

How much do I need to make to live in Somerset?

To keep rent under 30% of income, you need about $39,280 a year, or $19 an hour at a full-time job.

Is Somerset cheap or expensive?

Somerset is rated Expensive: rent takes 31.5% of the typical household income of $37,428. It ranks 21st cheapest of 87 Kentucky cities we track.

How much are property taxes in Somerset?

The median homeowner in Somerset pays $1,178 a year in property taxes, about 0.82% of the median home value.

Is Somerset more expensive than the national average?

Overall prices in Kentucky are 10% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Somerset?

The median home value in Somerset is $144,000, about 3.8 times the typical yearly household income.

12,216 people live in Somerset. Numbers are typical (middle) values.