Total monthly cost of ownership
Cost to Own a Home in Somerset, Ohio
A $190,000 home here costs
$1,602per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $977. The real number is $625 higher every month — 64% 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 Perry County and Ohio
| Measure | Somerset | Perry County |
|---|---|---|
| Median home value | $190,200 | $178,300 |
| Median property tax | $1,832 | $1,656 |
| Effective tax rate | 0.963% | 0.929% |
| Median gross rent | $774 | $727 |
| Population | 1,417 | 35,474 |
The weather behind that power bill
Somerset sits in Perry County, which averages a high of 83.4°F in its hottest month and a low of 17.7°F in its coldest, with 44.35" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 679 cooling and 5,864 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Perry County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Perry County
Common questions
How much does it cost to own a home in Somerset?
A $190,000 home in Somerset, Ohio costs approximately $1,602 per month with 20% down at 6.66%. That is $977 principal and interest, $152 property tax, $71 homeowners insurance, $243 utilities and $158 set aside for maintenance.
What is the property tax rate in Somerset?
Somerset has an effective property tax rate of 0.963%, based on a median home value of $190,200 and median real estate taxes of $1,832. That is higher than the Perry County average of 0.929%.
What is the average home price in Somerset?
The median owner-occupied home value in Somerset, Ohio is $190,200, against $178,300 across Perry County.
Is it cheaper to rent or buy in Somerset?
Median gross rent in Somerset is $774 a month, against $1,602 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 Ohio.
- 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.