Somerset County, Maine Housing Market
In Somerset County, Maine, the median home value is $166,900, with a median monthly rent of $910. This places Somerset County at #1863 nationally out of 3134 counties by median home value, and #14 within Maine.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,141
- Establishments: 1,441
- BLS QCEW, 2025
Housing Supply
- Single-family: 101
- Multi-family: 9
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 21,441 (avg $58,836)
- Outflow: 20,231 (avg $59,250)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Somerset County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 04937 | 375.3 | +24.40% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Somerset County Compares
| Metric | Somerset County | Maine Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $166,900 | $260,725 | $227,706 |
| Median Gross Rent | $910 | $1,020 | $968 |
| Owner Occupancy Rate | 77.4% | 76.6% | 73.3% |
| Price/Rent Ratio | 15.3 | 20.9 | 18.7 |
Market Analysis
The median home value in Somerset County is 36.0% below the Maine state average and 26.7% below the U.S. national average. The median rent of $910/month is 10.8% below the state average.
With a price-to-rent ratio of 15.3, the buy-vs-rent decision in Somerset County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Somerset County has an owner-occupancy rate of 77.4%, compared to 76.6% in Maine and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Pulaski County | Kentucky | $166,900 | $803 |
| George County | Mississippi | $166,900 | $844 |
| Jasper County | Missouri | $166,900 | $973 |
| Douglas County | South Dakota | $166,900 | $877 |
| Rush County | Indiana | $166,800 | $873 |
Other Counties in Maine
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Piscataquis County | $170,200 | $837 | 78.8% |
| Washington County | $161,800 | $783 | 79.7% |
| Aroostook County | $149,700 | $784 | 74.5% |
| Franklin County | $194,700 | $802 | 76.3% |
| Penobscot County | $214,100 | $1,041 | 70.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).