Somerset, KY—42503
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Somerset, KY
Home Price Trends — Somerset, KY
As of Oct '25, the median home price in Somerset, KY is $226,000, with a year-over-year change of 5.3%. This indicates that home prices in Somerset, KY are increasing. According to Zillow, the 1-year price projection is -1.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $226,000 | 5.3% |
| Single Family | $226,000 | 5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $266,000 | 3.5% |
4 Bed | $377,000 | 3.6% |
| 5 Bed | $486,000 | 3.0% |
% of Housing Stock
Rental Trends — Somerset, KY
As of July '25, Rentcast reports the average rent in Somerset, KY is $1,490, with a year-over-year rent change of -22.4%. Per bedroom, the median rent as of July '25 in Somerset, KY is 2-bedrooms: $1,270, 3-bedrooms: $1,750, 4-bedrooms: $3,000. The most common rental property sizes in Somerset, KY are 2-bedroom and 3-bedroom, accounting for 56.1% and 30.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,270 |
| 3 Bed Rent | $1,750 | $1,750 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Somerset, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Somerset, KY is 71. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $375,000 | 4.0% |
Listing Count | 162 | 5.0% |
| Listings as % of Homes | 0.8% | 5.0% |
Days on Market | 71 | 3.0% |
Demographics — Somerset, KY
As of the latest ACS Survey released in 2023, Somerset, KY has a population of 25,600, which has increased by 8.3% over the past 5 years. Somerset, KY is a moderately popular place for families, as children make up 21.3% of the population. The area has a poorly educated workforce, with 22.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,600 | 8.3% |
% Under 18 | 21.3% | -6.6% |
% Seniors | 19.5% | 2.1% |
% WFH | 5.6% | 229.4% |
% w/ College Degree | 22.7% | 1.3% |
As of the latest ACS Survey released in 2023, Somerset, KY is a predominantly white area, with 93.0% of the population identifying as white. The white population has grown by 0.5% in the last 5 years. The second most common race or ethnicity in Somerset, KY is hispanic, making up 3.8% of the population. Foreign-born residents account for 3.2% of the population in Somerset, KY, and this percentage has decreased by 11.1% 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 | 93.0% | 0.5% |
% Black | 0.7% | -22.2% |
% Hispanic | 3.8% | 15.2% |
% Asian | 1.5% | -16.7% |
% Foreign Born | 3.2% | -11.1% |
Mortgage and Risk — Somerset, KY
According to HUD data as of 2023, there were 382 mortgage originations in Somerset, KY, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Somerset, KY. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 382 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Somerset, KY
Somerset, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 206 |
Total Units Section 8 | 206 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 81.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $750 |
| 2 Bedroom | -$70 | $1,050 | $980 |
| 3 Bedroom | -$570 | $1,750 | $1,180 |
| 4 Bedroom | -$1,490 | $3,000 | $1,510 |
Affordability — Somerset, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $226,000 |
| Median Household Income | $53,400 |