Somerset, OH—43783
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Somerset, OH
As of Oct '25, the median home price in Somerset, OH is $303,000, with a year-over-year change of 3.0%. This indicates that home prices in Somerset, OH are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $303,000 | 3.0% |
| Single Family | $302,000 | 2.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $263,000 | 1.9% |
3 Bed | $336,000 | 3.4% |
4 Bed | $353,000 | 2.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Somerset, OH
Somerset, OH lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Somerset, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Somerset, OH is 63. This is a decrease of -43.0% 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 80.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $390,000 | -18.0% |
Listing Count | 15 | 16.0% |
| Listings as % of Homes | 0.3% | 16.0% |
Days on Market | 63 | -43.0% |
Demographics — Somerset, OH
As of the latest ACS Survey released in 2023, Somerset, OH has a population of 5,030, which has increased by 6.3% over the past 5 years. Somerset, OH is a popular place for families, as children make up 27.4% of the population. The area has a poorly educated workforce, with 20.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,030 | 6.3% |
% Under 18 | 27.4% | 25.1% |
% Seniors | 18.3% | 22.8% |
% WFH | 6.8% | 257.9% |
% w/ College Degree | 20.1% | 43.6% |
As of the latest ACS Survey released in 2023, Somerset, OH is a predominantly white area, with 95.5% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Somerset, OH is hispanic, making up 0.7% of the population. Foreign-born residents account for 0.4% of the population in Somerset, OH, and this percentage has decreased by 50.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.5% | -3.7% |
% Black | 0.5% | ∞% |
% Hispanic | 0.7% | 600.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.4% | -50.0% |
Mortgage and Risk — Somerset, OH
According to HUD data as of 2023, there were 148 mortgage originations in Somerset, OH, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Somerset, OH. Investor activity is low, as 1.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 148 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 1.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Somerset, OH
Somerset, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 53 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 22.0% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $830 |
| 2 Bedroom | N/A | N/A | $1,090 |
| 3 Bedroom | N/A | N/A | $1,320 |
| 4 Bedroom | N/A | N/A | $1,460 |
Affordability — Somerset, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $303,000 |
| Median Household Income | $64,300 |