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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Somerset, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Somerset, MA Housing Market Trends

With 18,192 people, 7,344 houses or apartments, and a median cost of homes of $491,228, Somerset real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Somerset, accounting for 81.83% of the town's housing units. Other types of housing that are prevalent in Somerset include duplexes, homes converted to apartments or other small apartment buildings ( 10.73%), large apartment complexes or high rise apartments ( 4.05%), and a few row houses and other attached homes ( 1.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Somerset. Owner-occupied housing accounts for 81.92% of Somerset's homes, and 70.78% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Somerset's housing was primarily built during this period, from the '40s through the '60s. A full 50.43% of the town's housing hails from this era. Other housing ages represented in Somerset include homes built between 1970-1999 ( 24.95%) and housing constructed before 1939 ( 16.63%). There's also some housing in Somerset built between 2000 and later ( 7.99%).

Somerset Home Appreciation Rates

Appreciation rates for homes in Somerset have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 86.23%, which ranks in the top 50% nationwide. This equates to an annual average Somerset house appreciation rate of 6.42%.

Appreciation rates are so strong in Somerset that despite a nationwide downturn in the housing market, Somerset real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Somerset appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 81.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Somerset. Somerset appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.59%.

Relative to Massachusetts, our data show that Somerset's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

Average Home Values

Median Home Value

$491,228

Somerset, MA Home Prices
> $1,311,000
$983,001 - $1,311,000
$656,001 - $983,000
$524,001 - $656,000
$393,001 - $524,000
$262,001 - $393,000
$131,001 - $262,000
$65,001 - $131,000
$0 - $65,000
3.3%
3.3%
1.2%
1.2%
7.9%
7.9%
25.6%
25.6%
38.5%
38.5%
20.6%
20.6%
0.8%
0.8%
0.0%
0.0%
2.2%
2.2%
0% 100.0%
% of Homes
Low

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

7,344

Somerset Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,447 / per month

Homeownership Rate

Owners
Renters
81.9%
81.9%
18.1%
18.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.6%
2.6%
97.4%
97.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.0%
8.0%
25.0%
25.0%
50.4%
50.4%
16.6%
16.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
81.8%
81.8%
1.9%
1.9%
10.7%
10.7%
4.0%
4.0%
0.6%
0.6%
0.9%
0.9%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
5.1%
5.1%
20.9%
20.9%
55.8%
55.8%
15.0%
15.0%
3.2%
3.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Somerset

Zip Codes in Somerset, MA