Somerset, PA 15501 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Somerset, PA—15501

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$196,000

6.3% YoY Growth

Household Income

$55,800

14.5% YoY Growth

Days on Market

11.0% Shorter YoY

Home Price Forecast

0.0%

Median Rent

$975

3.3% YoY Growth

1-Bed Rent

$793

9.8% YoY Growth

2-Bed Rent

$975

20.8% YoY Growth

3-Bed Rent

$1,060

5.0% YoY Growth

Home Price Trends — Somerset, PA

As of May '26, the median home price in Somerset, PA is $196,000, with a year-over-year change of 6.3%. This indicates that home prices in Somerset, PA are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$196,000	6.3%
Single Family	$194,000	6.0%
Condos	$247,000	2.9%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Somerset, PA

As of July '25, Rentcast reports the average rent in Somerset, PA is $966, with a year-over-year rent change of -3.3%. Per bedroom, the median rent as of July '25 in Somerset, PA is 1-bedrooms: $793, 2-bedrooms: $940, 3-bedrooms: $1,060. The most common rental property sizes in Somerset, PA are 2-bedroom and 3-bedroom, accounting for 46.5% and 26.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$975	$966
Studio Rent	N/A	N/A
1 Bed Rent	$793	$793
2 Bed Rent	$975	$940
3 Bed Rent	$1,060	$1,060
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

3.2%

1 Bedroom

18.4%

2 Bedrooms

46.5%

3 Bedrooms

26.1%

4 Bedrooms

5.1%

5+ Bedrooms

0.6%

Property Listings — Somerset, PA

As of May '26, Realtor.com reports that the median days on market for a home in Somerset, PA is 50. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$217,000	0.0%
Listing Count	36	-4.0%
Listings as % of Homes	0.4%	-4.0%
Days on Market	50	-11.0%

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Demographics — Somerset, PA

As of the latest ACS Survey released in 2023, Somerset, PA has a population of 16,400, which has increased by 2.5% over the past 5 years. Somerset, PA is a moderately popular place for families, as children make up 17.0% of the population. The area has a poorly educated workforce, with 19.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	16,400	2.5%
% Under 18	17.0%	4.3%
% Seniors	25.1%	16.2%
% WFH	6.6%	46.7%
% w/ College Degree	19.9%	16.4%

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As of the latest ACS Survey released in 2023, Somerset, PA is a predominantly white area, with 92.5% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Somerset, PA is black, making up 2.7% of the population. Foreign-born residents account for 1.3% of the population in Somerset, PA, and this percentage has increased by 62.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	92.5%	0.3%
% Black	2.7%	-25.0%
% Hispanic	1.6%	-30.4%
% Asian	1.1%	266.7%
% Foreign Born	1.3%	62.5%

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Mortgage and Risk — Somerset, PA

According to HUD data as of 2023, there were 278 mortgage originations in Somerset, PA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Somerset, PA. Investor activity is low, as 1.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	278
% Conventional Loans	87.0%
% Government Loans	13.0%
% Investor Loans	1.0%
% Second Loans	9.0%
% Cash Out Refinance	5.0%

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Rentals and Section 8 — Somerset, PA

Somerset, PA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	424
Total Units Section 8	392
% Rentals under Section 8	19.5%
% Occupied Section 8	94.1%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$3	$793	$790
2 Bedroom	-$65	$975	$910
3 Bedroom	$170	$1,060	$1,230
4 Bedroom	N/A	N/A	$1,320

Somerset, PA—15501

Key Metrics at a Glance

Home Price Trends — Somerset, PA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Somerset, PA

% of Rental Stock

Property Listings — Somerset, PA

Demographics — Somerset, PA

Race and Ethnicity

Mortgage and Risk — Somerset, PA

Mortgages

Rentals and Section 8 — Somerset, PA

Section 8 Market Size

Section 8 Opportunity

Affordability — Somerset, PA

Home Price to Income Ratio

Somerset, PA — ZIP Code Boundary Map

Nearby ZIP Codes

Sipesville

Acosta

Gray

Fairview

Jenners, PA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$196,000
Median Household Income	$55,800

Somerset, PA—15501

Key Metrics at a Glance

Home Price Trends — Somerset, PA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Somerset, PA

% of Rental Stock

Property Listings — Somerset, PA

Demographics — Somerset, PA

Race and Ethnicity

Mortgage and Risk — Somerset, PA

Mortgages

Rentals and Section 8 — Somerset, PA

Section 8 Market Size

Section 8 Opportunity

Affordability — Somerset, PA

Home Price to Income Ratio

Somerset, PA — ZIP Code Boundary Map

Nearby ZIP Codes

Sipesville

Acosta

Gray

Fairview

Jenners, PA

Frequently Asked Questions

What is the average home price in Somerset, PA 15501?

How have home prices in Somerset, PA 15501 changed over the past year?

What is the home price projection for Somerset, PA 15501?

What are the demographics of Somerset, PA 15501?

How long does it take homes to sell in Somerset, PA 15501?

What is the average rent price in Somerset, PA 15501?