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Real Estate Prices & Overview

Somerset median real estate price is $341,743, which is more expensive than 71.3% of the neighborhoods in Michigan and 46.7% of the neighborhoods in the U.S.

The average rental price in Somerset is currently $1,570, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.0% of Michigan neighborhoods.

Somerset is a rural neighborhood (based on population density) located in Cement City, Michigan.

Somerset real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Somerset neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in Somerset. The current real estate vacancy rate here is 19.1%. This is higher than the rate of vacancies in 85.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (17.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

In a nation where 1 out of every 4 children lives in poverty, the Somerset neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you're nearing retirement age, or in retirement, the Somerset is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 6.2% of retiree-friendly neighborhoods in Michigan, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Michigan.

Real Estate

Real estate in the Somerset neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.6% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Diversity

Did you know that the Somerset neighborhood has more English and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 31.0% of this neighborhood's residents have English ancestry and 1.0% have Slovak ancestry.

The Neighbors

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 neighborhood in Cement City are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.0% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 neighborhood, 54.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 17.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.5%), and 10.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Somerset neighborhood is English, spoken by 96.2% of households. Some people also speak Italian (4.9%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Somerset neighborhood in Cement City, MI, residents most commonly identify their ethnicity or ancestry as English (31.0%). There are also a number of people of German ancestry (29.2%), and residents who report Irish roots (12.2%), and some of the residents are also of French ancestry (6.2%), along with some Mexican ancestry residents (6.0%), among others.

Getting to Work

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 neighborhood spend between 15 and 30 minutes commuting one-way to work (47.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.5%) 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.


Real Estate includes:
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Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
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Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
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Violent Crime Comparison
Schools include:
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