Market Overview
Home Prices in Somerset, KY
The median home value in Somerset, KY is $202,527 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.6% compared to a year ago and up 3.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Somerset are priced51% below average. Somerset is part of the Somerset, KY metro area.
Over the past five years, Somerset home values have risen by approximately15.5%, reflecting steady appreciation in this market.
Price History
Somerset Home Price Trend
City Comparison
Somerset vs. National Median
At $202,527, homes in Somerset cost 51% below the national median of $410,000. This makes Somerset a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Somerset?
20% Down Payment
$40,505
on $202,527
Monthly P&I
$1,056/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,341/mo
incl. taxes & insurance
Income Needed
$53,640
gross annual (30% rule)
10% Down Option
$20,253
+ PMI applies
Loan Amount (20% dn)
$162,022
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Somerset, KY?
The median home value in Somerset is $202,527 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.6% year-over-year.
How much have home prices changed in Somerset?
Over the past year, home values in Somerset have decreased by 1.6%. Over five years, prices have risen approximately 15.5%.
How much do I need to earn to buy a home in Somerset?
To comfortably afford the median home price of $202,527 with a 20% down payment ($40,505) at today's rates (6.8%), you'd need a gross annual income of approximately $53,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Somerset compare to the national average home price?
The national median home value is approximately $410,000. At $202,527, homes in Somerset are 51% below the national average.
What metro area is Somerset part of?
Somerset is part of the Somerset, KY metropolitan area. Home prices and market conditions can vary across the broader metro region.