Somerset, KY Real Estate
According to census data in the year 2000 there were 5,416 housing units in Somerset.
This represents a 16.9% growth from 4,633 in 1990.
Of those housing units, 5,272 were located in either urbanized areas or urban clusters, and 144 were located in what is classified as a rural area.
Homeownership rate in Somerset is about 54.3%.
Somerset's vacancy rate, including seasonal lodging, is about 10.2%.
Average household size is 2.13 people.
The majority of houses, apartments or condos in Somerset were built after 1965.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.50% |
| One Bedroom | 16.10% |
| Two Bedrooms | 37.40% |
| Three Bedrooms | 31.70% |
| Four Bedrooms | 11% |
| Five Bedrooms or more | 3.40% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.26 |
| Median year structure was built | 1958 |
| Median Value of occupied units | $63,100 |
| Median Price asked for vacant units | $50,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.98 |
| Median year structure was built | 1974 |
| Median Monthly Rent asked for vacant units | $342 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.40% |
| Second Mortgage | 7.20% |
| Home Equity Loan | 5.60% |
| Simple Mortgage | 36.30% |
| Debt Free | 50.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 13.8% |
