Home prices
The median home value in Somerset is $118,800. This is about $22,080 (22%) higher compared to the surrounding areas.In comparison to the entire nation it is approximately $98,700 (45%) lower, and compared to the city of Lexington-Fayette it is roughly $71,000 (37%) lower.
Rents
Somerset's median monthly rent is $657. In comparison to nearby areas it is about $9 (1%) higher.It is about $405 (38%) lower in comparison to the United States as a whole, and is roughly $239 (26%) lower in comparison to the city of Lexington-Fayette.
Nearby places
Ferguson
Ferguson is Somerset's neighbor to the southeast. The real estate prices there are substantially less expensive. The median home in Ferguson costs $85,000, which is $33,800 (39%) lower than Somerset. Rents there are a bit more expensive. Ferguson's median rent is $775 per month, which is $118 (15%) higher than Somerset.
Burnside
Burnside is Somerset's neighbor to the south. Housing prices there are fairly similar. Burnside's median home price is $121,700, which works out to $2,900 (2%) higher than Somerset. Its rents are pretty similar. The median rent in Burnside is $679 per month, which is $22 (3%) higher than Somerset.
Science Hill
Science Hill is approximately 6 miles north from Somerset. Real estate prices there are a bit less expensive. The median home price in Science Hill is $102,900, which is $15,900 (15%) lower than Somerset. Rent there is a bit less expensive. The median rent in Science Hill is $614 a month, which is $43 (7%) lower than Somerset.
Eubank
Eubank is roughly 14 miles north of Somerset. Its real estate prices are a lot less expensive. The median home in Eubank costs $75,700, which is $43,100 (56%) lower than Somerset. The rent there is similar. Eubank's median monthly rent is $645, which is $12 (1%) lower than Somerset.
Monticello
Monticello is about 20 miles southwest of Somerset. Its housing prices are a bit less expensive. The median home in Monticello is valued at $98,300, which works out to $20,500 (20%) lower than Somerset. The rent there is a bit less expensive. The median monthly rent in Monticello is $525, which works out to $132 (25%) lower than Somerset.
