Somerset, MD
Population 1,020 · Maryland
About Somerset, MD
Somerset is a small community in Maryland with a population of 1,020 residents. The median household income is $250,001 per year, which is above the national average. The median age in Somerset is 50.4 years.
Housing in Somerset has a median home value of $1,820,800 and median monthly rent of $3,501. Of the 381 total housing units, the majority are owner-occupied, with 318 owner-occupied and 41 renter-occupied units.
The unemployment rate in Somerset is 0.8% and the poverty rate is 2.2%. 94.2% of residents hold a bachelor's degree or higher. The average commute time is 34.9 minutes.
How Somerset Ranks in Maryland
Cost of Living in Somerset, MD
Compared to national averages, Somerset has a median household income of $250,001 (233% above the national median of $75,149). Home values average $1,820,800, which is 643% above the national median. Monthly rent at $3,501 is 201% above the US average of $1,163. Within Maryland, Somerset's income is 132% above the state average of $107,956, and home values are 352% above the state median of $402,447.
Why Live in Somerset, MD?
Somerset offers a strong local economy with a median household income of $250,001, well above the national average, and a strong job market with an unemployment rate of just 0.8%, and a well-educated community where 94.2% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $1,820,800. However, Somerset’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Somerset has a population of 1,020 with a median age of 50.4 years. Compare Somerset with other cities to see how it stacks up, or explore all cities in Maryland.
Similar Cities Near Somerset
Cities in Maryland with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Martin's Additions | 1,019 | $250,001 | $1,454,900 | Compare |
| Algonquin | 1,027 | $72,917 | $332,600 | Compare |
| Morningside | 1,031 | $80,000 | $287,000 | Compare |
| Queenstown | 990 | $106,500 | $366,900 | Compare |
| Church Hill | 1,052 | $69,688 | $272,000 | Compare |
| Chevy Chase Section Three | 985 | $250,001 | $1,583,900 | Compare |
| Potomac Park | 974 | $49,330 | $122,600 | Compare |
| Grantsville | 970 | $46,354 | $230,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Maryland
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Somerset
What is the population of Somerset, MD?
The population of Somerset, MD is 1,020 according to the latest Census data.
What is the median household income in Somerset?
The median household income in Somerset, MD is $250,001 per year.
What is the median home value in Somerset?
The median home value in Somerset, MD is $1,820,800.
What is the average rent in Somerset?
The median monthly rent in Somerset, MD is $3,501.
What is the unemployment rate in Somerset?
The unemployment rate in Somerset, MD is 0.8%.