Cost of Living in Somerset, MA

With a cost of living index of 107, Somerset, MA is somewhat more expensive than average. Living here is 7% more expensive than the national average and 22% below the Massachusetts state average of 129. Somerset is a smaller community of 18,246 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Somerset's cost of living. The median monthly rent is $1,313 (0% below the US median of $1,319), and the median home value sits at $389,400 (28% above the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Somerset is $111,720, which is 49% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Somerset. The area sees an average annual temperature of 50.4°F, with summers averaging 69°F and winters around 32°F. Annual rainfall totals 45.9 inches spread over roughly 141 days.

Everyday prices in the Providence-Warwick, RI-MA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.