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Somerset County Housing Market

Maryland · 24 counties · Ranked #1396 in home value

Below National Avg

Housing at a Glance

Median Home Value

$164,300

vs national$164,300 vs $281,900 national

Median Gross Rent

$938/mo

vs national$938 vs $1,163 national

Effective Tax Rate

0.98%

vs national0.98% vs 1.02% national

Median Household Income

$52,462

vs national$52,462 vs $74,755 national

Affordability Ratio

3.1x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

34.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$1,603

Tax as % of Home Value

0.98%

Monthly Owner Cost

$977

Renter Income

$27,833

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Similar Counties by Home Value

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Frequently Asked Questions

What is the median home value in Somerset County?

The median home value in Somerset County is $164,300. This is below the national median of $281,900.

How much is rent in Somerset County?

The median gross rent in Somerset County is $938 per month.

What is the property tax rate in Somerset County?

The effective property tax rate in Somerset County is 0.98%. The median annual property tax bill is $1,603.

Is Somerset County affordable?

With a home-value-to-income ratio of 3.1x, Somerset County is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.