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City · 12,216 residents · Pulaski County, Kentucky

Somerset , Kentucky

In Somerset, a typical home is worth $144,000 and typical rent is $775 a month. Compared with all of Pulaski County, typical household income is 33% lower, the typical home value is 14% lower, and the share of households that own their home is 24 points lower.

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  • Typical home value

    $144,000

    14% below the county

    30% below Kentucky

    • Somerset
    • Pulaski
    • Kentucky

  • Typical rent

    $775a month

    3% below the county

    20% below Kentucky

    • Somerset
    • Pulaski
    • Kentucky

  • Typical household income

    $34,704a year

    33% below the county

    46% below Kentucky

    • Somerset
    • Pulaski
    • Kentucky

  • Households that own their home

    49%

    24 points below the county

    19 points below Kentucky

    • Somerset
    • Pulaski
    • Kentucky

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$198,176
0.7% less than 12 months ago
Typical rent
$1,211 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Somerset is in Pulaski County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Pulaski County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Somerset apart

What this place has that others do not, from public data, most unusual first.

  1. Somerset has the 2nd lowest typical household income of the 85 cities in Kentucky with more than 5,000 people ($34,704).

  2. 49% of households in Somerset own their home, against 72% in Pulaski County.

  3. Somerset has the 8th lowest typical home value of the 83 cities in Kentucky with more than 5,000 people ($144,000).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Somerset

What homes there are in Somerset, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Somerset, 6 in 10 homes are single-family detached houses; in Pulaski County, 7.

Year built

In Somerset, half of the homes were built before 1977; in Pulaski County, before 1986.

There are fewer big homes in Somerset than in Pulaski County: 51% have 3 bedrooms or more, against 70%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

By rent, most homes in Somerset cost less than HUD's 2-bedroom fair market rent ($924): about 71%.

With a mortgage

$1,113 a month

Pulaski County: $1,211 a month

Without a mortgage

$377 a month

Pulaski County: $392 a month

Owners with a mortgage

58%

Pulaski County: 50%

In Somerset, 58% of owners have a mortgage, and their typical cost is $1,113 a month, against $1,211 in Pulaski County. Without one it drops to $377.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Homes in Somerset gained value more slowly than in Pulaski County: 21% since 2015–2019, against 44%.

The typical rent in Somerset rose 18% since 2015–2019, about the same as in Pulaski County (18%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSomersetPulaski CountyKentuckyUnited States
Rental vacancy Unreliable estimateUnreliable estimate4.6%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room Unreliable estimate1.5%2.0%3.4%
People per household 2.262.472.432.53
Drive alone 71%80%77%69%
Carpool 16%12%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimateUnreliable estimate2%3%
Work from home 9%7%10%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

On average, a household in Somerset has 2.26 people, fewer than in Pulaski County (2.47).

In Somerset, 16% of workers share a car to get to work; in Pulaski County, 12%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Somerset?

A typical home costs more than the typical income allows

We start with a typical home in Somerset, worth $144,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Somerset, which is $34,704 a year. For that payment to be 28% of income, a household would need to earn about $50,568 a year.

The calculator's FHA and conventional loan limits are those of all of Pulaski County.

Your numbers

Local data
$

Starts at the typical home value in Somerset. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,040 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,180

at 7.18% · 30 years

Loan amount
$141,392
Total interest
$203,430
Paid off in
November 2056

Includes $2,432 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $810 a month

  • Tight

    $810 to $1,041 a month

  • Hard

    more than $1,041 a month

    Your payment · 41%

Compared with the typical household income in Somerset ($34,704 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,180
Principal & interest$958
Property tax$98
Home insurance$60
FHA mortgage insurance (MIP)$64

You need at least $5,040 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Somerset and Pulaski County

Somerset is in Pulaski County, Kentucky. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Somerset's own numbers

Typical home value
$144,000
Typical monthly rent
$775
Typical yearly household income
$34,704
Households that own their home
49%
Effective property tax rate
0.82%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Pulaski County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$924
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
0.6%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Pulaski County.

Everything about Pulaski County

Buying

Buying a home in Somerset

A typical home in Somerset is worth $144,000: 14% below the county and 30% below Kentucky. With the typical household income in Somerset ($34,704 a year), a typical home costs 4.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Somerset 4.1 years
  • Pulaski 3.2 years
  • Kentucky 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Pulaski County

According to FHFA’s house price index, home prices in Pulaski County rose 83% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Pulaski County.

Period County Kentucky U.S.
Last year (2025) +3.6% +3.9% +2.9%
5 years (2020–2025) +57% +50% +47%
10 years (2015–2025) +83% +84% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Somerset next to Pulaski County, Kentucky and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Somerset $144,000
  • Pulaski $166,900
  • Kentucky $205,600
  • United States $332,700
Typical monthly rent
  • Somerset $775
  • Pulaski $803
  • Kentucky $967
  • United States $1,413
Typical yearly household income
  • Somerset $34,704
  • Pulaski $51,898
  • Kentucky $63,726
  • United States $80,734
See the full table
Somerset next to Pulaski County and Kentucky
Measure Somerset Pulaski County Kentucky U.S.
Typical home value $144,000 $166,900 $205,600 $332,700
Typical monthly rent $775 $803 $967 $1,413
Typical yearly household income $34,704 $51,898 $63,726 $80,734
Households that own their home 49% 72% 68% 65%
Typical yearly property tax $1,178 $1,057 $1,544 $3,119
Effective property tax rate 0.82% 0.63% 0.75% 0.94%
Renters with high rent for their income 54% 50% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Pulaski County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Somerset

For a typical $144,000 home in Somerset, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Somerset's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,180a month

    Least cash to close
    Down payment
    $5,040
    Cash to close
    $9,360
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $64

  • Conventional, 5% down $1,154a month

    Down payment
    $7,200
    Cash to close
    $11,520
    Rate
    7.18%
    Mortgage insurance
    PMI · $68

  • Conventional, 20% down, no PMI $939a month

    Down payment
    $28,800
    Cash to close
    $33,120
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,072a month

    Down payment
    $21,600
    Cash to close
    $25,920
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Somerset and for Pulaski County.

Property tax

Effective rate in Somerset

0.82%of the home’s value each year

$1,178 a year for the typical owner in Somerset.

  • Somerset 0.82%
  • Pulaski 0.63%
  • Kentucky 0.75%

What Kentucky publishes Homestead exemption for owners 65 or older or totally disabled (Kentucky Department of Revenue)

Exemptions and deadlines in Kentucky

Flood risk in Pulaski County

FEMA does not publish these numbers by city: they are for all of Pulaski County.

Homes in the high-risk zone
0.6%
220
Of those, with NFIP insurance
1.8%
County Kentucky U.S.
Homes in the high-risk zone 0.6% 3.5% 3.5%
Of those, with NFIP insurance 1.8% 19% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Somerset

Typical rent in Somerset is $775 a month: 3% below the county. In Somerset, 54% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Pulaski County, by unit size. To pay the 2-bedroom one ($924 a month) without spending more than 30% of your income, you would need to earn $17.77 an hour working full time.

HUD fair market rent for all of Pulaski County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $660 $12.69 $26,400
1 bedroom $706 $13.58 $28,240
2 bedrooms $924 $17.77 $36,960
3 bedrooms $1,101 $21.17 $44,040
4 bedrooms $1,308 $25.15 $52,320

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Somerset

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Somerset has 2 ZIP codes with their own.

For 2 bedrooms it runs from $910 in 42501 to $960 in 42503.

1 of the 2 is above the fair market rent for Pulaski County ($924).

  • 42501 $910$1,080
  • 42503 $960$1,140

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Somerset when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Somerset

HUD lists 19 buildings with rents for lower incomes in Somerset. These are the largest.

  • Southern-Hines-Valley HM 325 Jasper St, Somerset 42501 215 low-income homes · Run by Housing Authority of Somerset · Average payment: $339 a month · Average wait: 23 months · Homes at several sites (606) 679-1332
  • Sky Hope Recovery Center for Men Union Street, Somerset 42501 68 low-income homes · 4 bd: 68 · In service since 2018
  • Beecher House 203 S Main St, Somerset 42501 62 low-income homes · For older adults (606) 679-3847
  • Beecher House Apartments S. Main Street, Somerset 42501 62 low-income homes · 1 bd: 58 · 2 bd: 4 · In service since 2013 · For older adults
  • Cumberland Manor - Somerset 106 White Oak Cir, Somerset 42501 60 homes, 59 low-income · For families (606) 561-5319

See all 21 buildings in Pulaski County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Somerset

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Pulaski County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Somerset

No down payment, repair or rent-help program on our list is for Somerset or Pulaski County. The ones below are statewide in Kentucky: they work in Somerset the same as in the rest of the state.

Which programs do I qualify for? All programs in Kentucky

  • KHC Down Payment Assistance (DPA)

    Statewide in Kentucky

    Kentucky state corporation loan of up to $12,500 for the down payment and closing costs, repaid over 15 years as a second loan, for buyers who take a KHC mortgage. Offered by Kentucky Housing Corporation (KHC).

    Repayable

    See the program Official page

Housing counselors near Somerset

The HUD-approved agencies closest to the center of Somerset, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Kceoc Community Action Partnership, Inc.

    5448 N US Highway 25E, Gray · 39 miles away

    • Budget and financial counseling
    • Home improvement and repairs
    • and 6 more
    (606) 546-3152

  • Apprisen - Lexington

    3499 Blazer Pkwy, Lexington · 64 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (800) 355-2227

  • Reach, Inc.

    733 Red Mile Rd, Lexington · 66 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (859) 455-8057

All counseling agencies in Kentucky

Help in Spanish near Somerset

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Somerset

HUD’s record names them for Somerset or Pulaski County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Somerset Public housing and Section 8 vouchers (606) 679-1332

All housing agencies in Kentucky Source: HUD

Cities

Nearby cities

The cities closest to Somerset, with the typical home value.

Everything about Pulaski County Housing in Kentucky

Neighboring counties

If Pulaski County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Somerset.

All guides
Three women of one family talk as they cook vegetables in the kitchen.

Questions

Housing questions about Somerset

Short answers with the numbers for Somerset and all of Pulaski County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Somerset?

The typical home value in Somerset is $144,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Pulaski County it is $166,900.

How much does it cost to rent in Somerset?

Typical rent in Somerset is $775 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Pulaski County is $924.

What is the FHA loan limit in Somerset?

Somerset uses the FHA limit for all of Pulaski County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Somerset?

The typical homeowner in Somerset pays $1,178 a year, according to the U.S. Census Bureau. That is 0.82% of the home’s value; in Pulaski County, the rate is 0.63%.

Where can I find free help to buy or rent in Somerset?

We found no HUD-approved counseling agencies with an office in Pulaski County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).