Cost of Living in Somerset, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
105.8
100 = national avg
+5.8 vs national average
Living Wage (1 Adult)
$46,573
per year
Living Wage (Family of 4)
$110,082
per year
Cost Index by Category
Housing57.5
Food130.5
Transportation124.1
Healthcare124.4
Utilities109.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$729
per month
2 Bedroom
$956
per month
The overall cost of living index in Somerset is 105.8, which is 5.8% above the national average. Housing costs are below the national average at an index of 57.5. A single adult needs to earn approximately $46,573 per year to cover basic expenses.