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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Somerset, the Somerset North neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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.
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.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
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.
The most common language spoken in the Somerset North neighborhood is English, spoken by 97.7% of households.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
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.
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.