Somerset, MA Cost Of Living
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 120, with 100 being the average.
The cost of living index in Somerset is 1.2x higher than the national average.
Somerset ranks as the #23 cheapest in Massachusetts out of 112.
Somerset ranks as the #4,411 cheapest out of 6,489 in the US.
The median home value in Somerset is $493,992.
The median income in Somerset is $111,720.
Table Of Contents
Somerset's Overall Cost Of Living
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 120, which is 1.2x higher than the national index of 100.
Compared to Massachusetts, Somerset has a cost of living index that's 0.9x lower than Massachusetts's index of 134.
The standard of living in Somerset ranks as #23 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Somerset ranks as the #89 most expensive place in the Bay State.
For more reading on life in Somerset, check out:
In Massachusetts
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 117.
The Groceries index in Somerset is 102.
The Health index in Somerset is 110.
The Housing index in Somerset is 147.
The Transportation index in Somerset is 94.
The Utilities index in Somerset is 111.
| Living Expense | Somerset | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 120 | 134 | 100 | |
| Services | 117 | 121 | 100 | |
| Groceries | 102 | 106 | 100 | |
| Health | 110 | 112 | 100 | |
| Housing | 147 | 164 | 100 | |
| Transportation | 94 | 120 | 100 | |
| Utilities | 111 | 136 | 100 | |
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 2019-2023. The key points are:
The Median Home Value in Somerset is $493,992.
The Median Rent in Somerset is $1,313.
The Median Income in Somerset is $111,720.
The Home Value To Income in Somerset is 4.4x.
The Rent To Monthly Income in Somerset is 0.14x.
| Statistic | Somerset | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $493,992 | $649,115 | $303,400 |
| Median Rent | $1,313 | $1,687 | $1,348 |
| Median Income | $111,720 | $101,341 | $78,538 |
| Home Value To Income | 4.4x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Somerset, MA Costs By Category
Detailed Somerset Services Costs Vs. Massachusetts
| Item | Somerset | Massachusetts |
|---|---|---|
| Shampoo | $1.43 | $1.28 |
| Movie | $14.37 | $12.13 |
| Bowling | $22.72 | $18 |
| Haircut | $31.5 | $24.26 |
| Beauty Salon | $49.92 | $45.56 |
Detailed Somerset Groceries Costs Vs. Massachusetts
| Item | Somerset | Massachusetts |
|---|---|---|
| Ground Beef | $5.85 | $5.84 |
| Fried Chicken | $1.43 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.0 | $4.93 |
| Pizza | $11.59 | $12.09 |
| Beer | $10.74 | $10.41 |
| Toothpaste | $3.46 | $3.7 |
Detailed Somerset Health Costs Vs. Massachusetts
| Item | Somerset | Massachusetts |
|---|---|---|
| Optometrist | $104.45 | $125.68 |
| Doctor | $169.83 | $135.78 |
| Dentist | $130.28 | $113.29 |
Detailed Somerset Transportation Costs Vs. Massachusetts
| Item | Somerset | Massachusetts |
|---|---|---|
| Gasoline | $3.38 | $3.46 |
| Tire Balancing | $48.2 | $59.92 |
Detailed Somerset Utilities Costs Vs. Massachusetts
| Item | Somerset | Massachusetts |
|---|---|---|
| All Electricity | $230.62 | $193.99 |
| Phone | $195.18 | $192.25 |
Somerset SnackAbility
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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 111, 0.9x Somerset.
New Bedford, MA has a cost of living index of 109, 0.9x Somerset.
Fall River, MA has a cost of living index of 113, 0.9x Somerset.
| City | Population | Cost Of Living | Vs. Somerset |
|---|---|---|---|
| Providence, RI | 190,214 | 111 | 0.9x |
| New Bedford, MA | 100,731 | 109 | 0.9x |
| Fall River, MA | 93,764 | 113 | 0.9x |
| Warwick, RI | 82,871 | 114 | 0.9x |
| Pawtucket, RI | 75,280 | 110 | 0.9x |
| Taunton, MA | 59,719 | 120 | 1.0x |
| East Providence, RI | 46,970 | 110 | 0.9x |
| Central Falls, RI | 22,481 | 103 | 0.9x |
| Valley Falls, RI | 12,370 | 114 | 0.9x |
| Tiverton, RI | 8,151 | 117 | 1.0x |
