Somerset, KY Real Estate

According to census data in the year 2000 there were 5,416 housing units in Somerset. This represents a 16.9% growth from 4,633 in 1990.

Of those housing units, 5,272 were located in either urbanized areas or urban clusters, and 144 were located in what is classified as a rural area.

Homeownership rate in Somerset is about 54.3%. Somerset's vacancy rate, including seasonal lodging, is about 10.2%. Average household size is 2.13 people.

The majority of houses, apartments or condos in Somerset were built after 1965.


Housing Size

Housing Units by Size
Studio Type0.50%
One Bedroom16.10%
Two Bedrooms37.40%
Three Bedrooms31.70%
Four Bedrooms11%
Five Bedrooms or more3.40%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.26
Median year structure was built1958
Median Value of occupied units$63,100
Median Price asked for vacant units$50,000

Rented Homes, Apartments and Condos

Average Household Size1.98
Median year structure was built1974
Median Monthly Rent asked for vacant units$342

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.40%
Second Mortgage7.20%
Home Equity Loan5.60%
Simple Mortgage36.30%
Debt Free50.40%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs13.8%