Somerset, MA Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Somerset, MA Summary

Cost of living in Somerset research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Somerset is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Somerset is 121, with 100 being the average.

  • The cost of living index in Somerset is 1.2x higher than the national average.

  • Somerset ranks as the #32 cheapest in Massachusetts out of 113.

  • Somerset ranks as the #4,857 cheapest out of 6,412 in the US.

  • The median home value in Somerset is $316,600.

  • The median income in Somerset is $96,967.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
121
Somerset's Overall Cost Of Living
1.2x
Higher Than The National Average

What is the cost of living in Somerset, MA?

According to the most recent data on the cost of living, Somerset has an overall cost of living index of 121, which is 1.2x higher than the national index of 100.

Compared to Massachusetts, Somerset has a cost of living index that's 0.8x lower than Massachusetts's index of 143.

The standard of living in Somerset ranks as #32 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Somerset ranks as the #81 most expensive place in the Bay State.

For more reading on life in Somerset, check out:

32 out of 113
In Massachusetts
4,857 out of 6,412
In America

Somerset Cost Of Living Vs. Massachusetts

Six factors go into calculating the cost of living index in Somerset. Here is how it fairs on each of the criteria:

  • The Services index in Somerset is 120.

  • The Groceries index in Somerset is 109.

  • The Health index in Somerset is 108.

  • The Housing index in Somerset is 135.

  • The Transportation index in Somerset is 106.

  • The Utilities index in Somerset is 128.

Living Expense Somerset Massachusetts National Average
Overall 121 143 100
Services 120 126 100
Groceries 109 108 100
Health 108 117 100
Housing 135 202 100
Transportation 106 114 100
Utilities 128 123 100
For more reading on cost of living around Massachusetts, check out:
Somerset Cost of Living Vs. MA

Somerset, MA Housing Cost Breakdown

Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Somerset is $316,600.

  • The Median Rent in Somerset is $1,216.

  • The Median Income in Somerset is $96,967.

  • The Home Value To Income in Somerset is 3.3x.

  • The Rent To Monthly Income in Somerset is 0.15x.

Statistic Somerset Massachusetts United States
Median Home Value $316,600 $424,700 $244,900
Median Rent $1,216 $1,429 $1,163
Median Income $96,967 $89,026 $69,021
Home Value To Income 3.3x 4.8x 3.5x
Rent To Monthly Income 0.15x 0.19x 0.2x
Search Homes For Sale In Somerset, MA
$316,600
Median Home Value
$1,216
Median Rent
$96,967
Median Income

Somerset, MA Costs By Category

Detailed Somerset Services Costs Vs. Massachusetts

Item Somerset Massachusetts
Shampoo $0.96 $1.06
Movie $12.75 $10.68
Bowling $19.67 $14.67
Haircut $24.44 $18.62
Beauty Salon $48.53 $39.05

Detailed Somerset Groceries Costs Vs. Massachusetts

Item Somerset Massachusetts
Ground Beef $3.82 $4.22
Fried Chicken $1.75 $1.39
Milk $2.52 $2.05
Potatoes $4.11 $3.29
Pizza $10.49 $10.62
Beer $10.32 $9.38
Toothpaste $2.53 $2.34

Detailed Somerset Health Costs Vs. Massachusetts

Item Somerset Massachusetts
Optometrist $131.39 $108.57
Doctor $157.87 $116.17
Dentist $92.75 $99.13

Detailed Somerset Transportation Costs Vs. Massachusetts

Item Somerset Massachusetts
Gasoline $2.15 $2.22
Tire Balancing $62.0 $50.07

Detailed Somerset Utilities Costs Vs. Massachusetts

Item Somerset Massachusetts
All Electricity $240.57 $167.67
Phone $189.01 $175.64

Somerset SnackAbility

6
/10
Overall SnackAbility
Jobs
8.5/10
Housing
8.5
Affordability
8
Diversity
4
Safety
8
Amenities
8.5
Education
8
Commute
8

Cost Of Living In Cities Around Somerset

The cost of living varies in the cities and towns around Somerset. Here's a quick look at the cost of living in the most populous nearby places:

  • Providence, RI has a cost of living index of 110, 0.9x Somerset.

  • New Bedford, MA has a cost of living index of 114, 0.9x Somerset.

  • Fall River, MA has a cost of living index of 114, 0.9x Somerset.

City Population Cost Of Living Vs. Somerset
Providence, RI 188,812 110 0.9x
New Bedford, MA 100,309 114 0.9x
Fall River, MA 93,339 114 0.9x
Warwick, RI 82,666 115 1.0x
Pawtucket, RI 75,200 109 0.9x
Taunton, MA 59,076 119 1.0x
East Providence, RI 47,171 113 0.9x
Central Falls, RI 22,192 108 0.9x
Valley Falls, RI 12,064 115 1.0x
Tiverton, RI 8,240 119 1.0x

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