Total monthly cost of ownership
Cost to Own a Home in Somerset, Kentucky
A $141,000 home here costs
$1,211per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $725. The real number is $486 higher every month — 67% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Somerset against Pulaski County and Kentucky
| Measure | Somerset | Pulaski County |
|---|---|---|
| Median home value | $140,900 | $156,300 |
| Median property tax | $1,100 | $1,010 |
| Effective tax rate | 0.781% | 0.646% |
| Median gross rent | $830 | $835 |
| Population | 12,108 | 65,503 |
The weather behind that power bill
Somerset sits in Pulaski County, which averages a high of 86.5°F in its hottest month and a low of 29.0°F in its coldest, with 53.28" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,450 cooling and 3,861 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Pulaski County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pulaski County
No other places of this size are published in Pulaski County.
Full Pulaski County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Somerset?
A $141,000 home in Somerset, Kentucky costs approximately $1,211 per month with 20% down at 6.66%. That is $725 principal and interest, $92 property tax, $74 homeowners insurance, $203 utilities and $118 set aside for maintenance.
What is the property tax rate in Somerset?
Somerset has an effective property tax rate of 0.781%, based on a median home value of $140,900 and median real estate taxes of $1,100. That is higher than the Pulaski County average of 0.646%.
What is the average home price in Somerset?
The median owner-occupied home value in Somerset, Kentucky is $140,900, against $156,300 across Pulaski County.
Is it cheaper to rent or buy in Somerset?
Median gross rent in Somerset is $830 a month, against $1,211 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Somerset — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Kentucky.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.