Somerset, IN
Population 241 · Indiana
About Somerset, IN
Somerset is a small community in Indiana with a population of 241 residents. The median household income is $105,272 per year, which is above the national average. The median age in Somerset is 56.9 years.
Housing in Somerset has a median home value of $0 and median monthly rent of $603. Of the 144 total housing units, the majority are owner-occupied, with 100 owner-occupied and 29 renter-occupied units.
The unemployment rate in Somerset is 0.0% and the poverty rate is 11.2%. 18.3% of residents hold a bachelor's degree or higher. The average commute time is 0 minutes.
How Somerset Ranks in Indiana
Cost of Living in Somerset, IN
Compared to national averages, Somerset has a median household income of $105,272 (40% above the national median of $75,149). Home values average $0, which is 100% below the national median. Monthly rent at $603 is 48% below the US average of $1,163. Within Indiana, Somerset's income is 52% above the state average of $69,330, and home values are 100% below the state median of $163,409.
Why Live in Somerset, IN?
Somerset offers a strong local economy with a median household income of $105,272, well above the national average, and affordable housing with a median home value of $0, below the US average of $244,900, and rent that’s lower than the national average at $603/month. Additionally, the city features a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 11.2%, better than the national average, and short commute times averaging just 0 minutes.
Somerset has a population of 241 with a median age of 56.9 years. Compare Somerset with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Somerset
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cree Lake | 241 | $0 | $232,700 | Compare |
| Hazleton | 240 | $51,250 | $70,800 | Compare |
| Glezen | 243 | $115,278 | $136,400 | Compare |
| Goldsmith | 239 | $158,125 | $281,400 | Compare |
| South Milford | 243 | $114,968 | $183,100 | Compare |
| Cedar Grove | 244 | $60,625 | $160,900 | Compare |
| Kingsbury | 244 | $71,250 | $182,400 | Compare |
| Linn Grove | 238 | $0 | $163,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Somerset With Other Cities
Frequently Asked Questions about Somerset
What is the population of Somerset, IN?
The population of Somerset, IN is 241 according to the latest Census data.
What is the median household income in Somerset?
The median household income in Somerset, IN is $105,272 per year.
What is the median home value in Somerset?
The median home value in Somerset, IN is $0.
What is the average rent in Somerset?
The median monthly rent in Somerset, IN is $603.
What is the unemployment rate in Somerset?
The unemployment rate in Somerset, IN is 0.0%.