Somerset County, Maryland Housing Market Prices
Somerset County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 2% below the Maryland median$260,756
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Median rent 41% below the Maryland median Among the top 3 cheapest counties in Maryland$1,013
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Somerset County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,756 | $267,101 | $248,835 |
| Price Trend (Annual %) | 38.7% | 3.4% | 7.5% |
| Median Gross Rent | $1,013 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Somerset County is about 2% lower than in Maryland. Rent is about 41% lower than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Somerset County, up about 38.7% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Somerset County rose about 44.0% between 2015 and 2024, from $703 to $1,013. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Somerset County.
Buying the median-priced home in Somerset County costs roughly 21.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Somerset County. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Somerset County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,756 | $267,101 | $248,835 |
| Median Household Income | $63,559 | $103,916 | $80,455 |
| Price-to-Income Ratio | 4.1 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Somerset County rose about 100.6%, while median household income rose about 33.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Somerset County | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.9% | 62.4% | 58.5% |
| Rental Rate | 20.5% | 29.9% | 31.2% |
| Vacancy Rate | 23.6% | 7.7% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Somerset County has a homeownership rate of 55.9%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 23.6%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Somerset County | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1978 | 1977 | 1978 |
| Median Number of Rooms | 5.8 | 6.2 | 5.5 |
The typical housing unit in Somerset County was built around 1978. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Somerset County, MD Housing Compared With Nearby Counties
Somerset County, MD is the 5th largest of the 6 counties compared here, 24,822 residents against a local median of 33,335. The measure that sets Somerset County, MD apart most is median home price: $260,756, 48% above the local median of $176,769.
The counties themselves spread $281,928 on median home price, so Somerset County, MD sits at one end of an already wide local range rather than apart from it. Somerset County, MD has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Somerset County, MD | 24,822 | $260,756 #2/6 | $1,013 #5/6 | 73.1% #3/6 |
| Accomack County, VA | 33,335 | $161,842 | $976 | 71.4% |
| Wicomico County, MD | 104,905 | $176,769 | $1,326 | 62.3% |
| Dorchester County, MD | 32,754 | $216,435 | $1,032 | 65.6% |
| Northumberland County, VA | 12,188 | $129,375 | $1,038 | 86.1% |
| Worcester County, MD | 53,701 | $411,303 | $1,158 | 78.0% |
Frequently Asked Questions
Common questions about the housing market in Somerset County, Maryland.
What is the median home price in Somerset County, Maryland?
The median home price in Somerset County, Maryland is $260,756, lower than the Maryland average of $267,101.
What is the average home price in Somerset County, Maryland?
The typical home price in Somerset County, Maryland, reported as the median sale price, is $260,756. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Somerset County, Maryland?
The median gross rent in Somerset County, Maryland is $1,013 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Somerset County in 2020?
In 2020, the median gross rent in Somerset County, Maryland was $766 per month.
What is the price-to-rent ratio in Somerset County, Maryland?
The price-to-rent ratio in Somerset County, Maryland is about 21.5, meaning it would take roughly 21.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Somerset County.
Are home prices or rent rising faster in Somerset County, Maryland?
Both home prices and rent are rising in Somerset County, up about 38.7% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Somerset County, Maryland?
55.9% of households in Somerset County, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Somerset County, Maryland?
The housing vacancy rate in Somerset County, Maryland is 23.6%, higher than the Maryland average of 7.7%.
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