Somerset, IN
Full City Profile · Indiana · Wabash County County
4.1
/5.0
A
Great
241
Population
354/sq mi density
$105,272
Median Income
$45,687 per capita
$603
Median Rent
51.0% income on rent
51°F
Avg Temperature
A
Overall
4.1 / 5.0
Strong
A+
Economy
4.9 / 5.0
$105,272 median income, 0.0% unemployment
A+
Affordability
5.0 / 5.0
C
Education
2.5 / 5.0
18.3% bachelor's degree or higher
Housing Overview
Median Rent
$603/mo
48% below
US avg: $1,163/mo
Homeownership Rate
77.5%
19% above US avg (65.4%)
Total Housing Units
170
Median year built: 1995
Ownership vs. Renting
77.5%
Owner-Occupied
22.5%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$816/mo
1 Bedroom
$882/mo
2 Bedroom
$1,096/mo
3 Bedroom
$1,391/mo
4 Bedroom
$1,590/mo
Census median rent:
$603/mo
Affordability & Housing Stock
Rent Burden
51.0%
of renters spending 30%+ of income on housing
65% above US avg (31.0%)
Median Year Built
1995
Average age of housing stock: 31 years
Homeownership Rate
77.5%
Complete Housing Data
Home Values
| Zillow Home Value (ZHVI) | $175,869 |
Rent
| Census Median Rent | $603 |
| FMR Studio | $816 |
| FMR 1-Bedroom | $882 |
| FMR 2-Bedroom | $1,096 |
| FMR 3-Bedroom | $1,391 |
| FMR 4-Bedroom | $1,590 |
Market
Ownership & Stock
| Owner-Occupied | 77.5% |
| Renter-Occupied | 22.5% |
| Homeownership Rate | 77.5% |
| Total Housing Units | 170 |
| Median Year Built | 1995 |
| Rent Burden | 51.0% |