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The total population of Somerset is estimated to be 1,028 with 482 males (46.89%) and 546 females (53.11%). There are 64 more females than males in Somerset.
The median household income in Somerset was $270,229 in 2021, which marked an a decrease of 13,057(4.61%) from $283,286 in 2020. This income is 362.21% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Somerset sees its highest median household income among householders in the age group of 25 to 44 years old, at $270,229. Overall, the median household income for the town of Somerset stands at $270,229.
In Somerset, the median income for all workers aged 15 years and older, regardless of work hours, was $196,881 for males and $111,018 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $270,229 for males and $185,492 for females.
In Somerset, there are just two different racial groups among households. Among these, White households report a median household income of $270,229, while Asian households have a median household income of $270,229.
In 2022, the population of Somerset was 1,171, a 0.34% decrease year-by-year from 2021. Previously, in 2021, Somerset's population was 1,175, a decline of 0.68% compared to a population of 1,183 in 2020.
The median age in Somerset, MD is 50.5, as per 2021 ACS 5-Year Estimates. Of the total population, 19.30% were under the age of 15, 14.94% aged 15 to 29, 41.32% aged 30 to 64, 20.95% aged 65 to 84, and 3.49% were 85 years of age and older.
Racial distribution of Somerset population: 92.43% are White, 0.97% are Black or African American, 3.10% are Asian, 0.39% are some other race and 3.10% are multiracial.