Cost of Living in Somerset
The biggest cost-of-living factor in Somerset, Massachusetts is housing. The median home is priced around $550K, or about $363 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $2,853, plus roughly $609 per month in property taxes. Rates and down payment change this figure significantly.
Somerset's FY2025 residential property tax rate is $13.30 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Somerset.