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Real Estate Prices & Overview

Somerset North median real estate price is $293,102, which is more expensive than 70.1% of the neighborhoods in Kentucky and 38.5% of the neighborhoods in the U.S.

The average rental price in Somerset North is currently $1,656, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.0% of the neighborhoods in Kentucky.

Somerset North is a rural neighborhood (based on population density) located in Somerset, Kentucky.

Somerset North real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Somerset North neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Somerset North, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.6% of all neighborhoods in the U.S. This means that the housing supply in Somerset North is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

If you are planning to retire in Kentucky, this neighborhood should be on your must-see list. For many reasons, Somerset North may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Kentucky, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.7% of neighborhoods in KY. If a Kentucky retirement is in your future, this neighborhood should be one of the places you visit.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Somerset North neighborhood in Somerset are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.3% of U.S. neighborhoods. With 15.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.7% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Somerset North neighborhood, 38.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 25.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.8%), and 14.4% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Somerset North neighborhood is English, spoken by 97.7% of households.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Somerset North neighborhood in Somerset, KY, residents most commonly identify their ethnicity or ancestry as Irish (18.3%). There are also a number of people of English ancestry (17.6%), and residents who report German roots (6.8%), and some of the residents are also of Mexican ancestry (2.1%), along with some Portuguese ancestry residents (1.5%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Somerset North neighborhood spend under 15 minutes commuting one-way to work (48.4% of working residents), one of the shortest commutes across America.

Here most residents (82.9%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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Crime includes:
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