1st Advantage MortgageIn Somerset County, Maryland, the typical household earns $64,943 a year and the typical rent is $1,013. Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Maryland before sharing details.
On this page
- First look: Somerset County, MD
- Labor force snapshot: Somerset County
- Homes and rents, Somerset County
- Somerset County against other Maryland counties
- Earnings across Somerset County households
- Counties near Somerset County
- Census places in Somerset County
- Before borrowing in Somerset County
- Somerset County demographics against Maryland
- Room for a loan payment in Somerset County
- Four steps for Somerset County borrowers
- Lender oversight for Somerset County
- Nearby and statewide guides
- Frequently asked questions
First look: Somerset County, MD
Roughly 24,822 residents live in Somerset County, Maryland, 23rd by population among the state's 24 counties and county equivalents. Its 320 square miles average 78 people per square mile, by the 2024 Census Gazetteer. Metro area: Salisbury, MD (OMB, 2023). The Census Bureau counts 11 places in the county (2 incorporated, 9 census-designated); the largest is Princess Anne, with about 3,569 residents, or 14% of the county.
Labor force snapshot: Somerset County
Education and health care (25%), retail trade (15%) and public administration (12%) lead Somerset County's job mix. Retail trade stands out: 15% of workers here, versus 9% statewide. Averaged over the five survey years, 7.5% of the labor force was out of work and looking. Commutes of 45 minutes-plus: 15%; under 15 minutes: 34%. 7.6% of households have no vehicle.
| Where residents work | Somerset County | Difference from Maryland |
|---|---|---|
| Education and health care | 25.3% | +1.3 pts |
| Retail trade | 14.6% | +5.6 pts |
| Public administration | 11.7% | +0.6 pts |
| Arts, lodging and food service | 7.5% | 0.0 pts |
| Construction | 6.3% | -1.0 pts |
| Professional and administrative services | 6.1% | -10.4 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Somerset County should have bank statements and tax returns ready.
Homes and rents, Somerset County
A typical Somerset County rental runs $1,013 a month including utilities, which is 41% below Maryland. By the Census definition, 48% of Somerset County renters are cost-burdened. The median owner-occupied home is valued at $173,200, about 2.7 times the median household income. In Somerset County, 73% of occupied homes are owned by the people living in them. Half the housing stock was built before 1986.
| Home costs | Somerset County | Maryland | Compared with Maryland |
|---|---|---|---|
| Median home value | $173,200 | $419,900 | 59% lower |
| Owners | 73% | 68% | +5.5 pts |
| Median gross rent | $1,013/mo | $1,705/mo | 41% lower |
| Rent-burdened renters | 48% | 51% | -3.0 pts |
| Burdened owners | 29% | 27% | +2.6 pts |
Because most Somerset County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
Somerset County against other Maryland counties
- The ACS unemployment rate: 7.5% in Somerset County, the highest of 24 in Maryland. If work is uncertain, keep any loan small and the term short.
- Median home value: $173,200 in Somerset County. Only 1 of 24 Maryland counties are lower. With modest home values, equity borrowing is rarely large.
- Population: 24,822 in Somerset County. Only 1 of 24 Maryland counties are lower. In a small county, the nearest lender may not be the best; compare online offers too.
Earnings across Somerset County households
$64,943 is the median household income for Somerset County, set against $103,678 for Maryland. In the state ranking that is 21st of 24.
| Band | Somerset County | Compared with Maryland |
|---|---|---|
| Under $35,000 | 32.5% | +16.5 pts |
| $35,000 to $99,999 | 39.3% | +7.0 pts |
| $100,000 to $199,999 | 24.2% | -7.1 pts |
| $200,000 or more | 3.9% | -16.4 pts |
33% under $35,000 and 28% at $100,000 or more: that is the Somerset County income split. The poverty rate is 16.4%, 7 points higher than the state's 9.4%. Income inequality, measured by the Gini index, comes to 0.452 here. For a borrower in Somerset County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Counties near Somerset County
Nearest neighbors first, measured between county centers (22 to 38 miles). Somerset County's $64,943 median trails 4 of the six and beats 2; the range runs $58,993 (Accomack County) to $119,446 (St. Mary's County). The list crosses into Virginia, where different lending rules and regulators apply.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Somerset County | - | $64,943 | $1,013/mo | 73% |
| Accomack County, VA | 22 mi | $58,993 | $977/mo | 71% |
| Wicomico County, MD | 24 mi | $76,210 | $1,327/mo | 62% |
| Dorchester County, MD | 27 mi | $61,839 | $1,032/mo | 66% |
| Worcester County, MD | 31 mi | $81,745 | $1,159/mo | 78% |
| Northumberland County, VA | 32 mi | $66,480 | $1,038/mo | 86% |
| St. Mary's County, MD | 38 mi | $119,446 | $1,747/mo | 73% |
Census places in Somerset County
10,370 of Somerset County's 24,822 residents live in its 11 Census places (42%); the 11 largest are listed. Mount Vernon has the highest median household income on the list ($113,938) and Eden the lowest ($39,559), counting places with at least 500 residents. Rent is cheapest in Crisfield ($766) and steepest in Princess Anne ($1,048). No Somerset County place has a separate guide yet; this county page serves all 11.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Princess Anne | town | 3,569 | $69,116 | $1,048 | 12 mi |
| Crisfield | city | 2,499 | $50,139 | $766 | 7 mi |
| Mount Vernon | CDP | 1,067 | $113,938 | n/a | 12 mi |
| Eden | CDP | 1,053 | $39,559 | n/a | 18 mi |
| West Pocomoke | CDP | 548 | n/a | $941 | 15 mi |
| Fairmount | CDP | 440 | $51,827 | n/a | 3 mi |
| Smith Island | CDP | 345 | $90,385 | n/a | 12 mi |
| Deal Island | CDP | 341 | $22,404 | $1,615 | 7 mi |
| Chance | CDP | 230 | $66,711 | n/a | 9 mi |
| Dames Quarter | CDP | 226 | $83,750 | n/a | 7 mi |
| Frenchtown-Rumbly | CDP | 52 | $20,915 | n/a | 0 mi |
Before borrowing in Somerset County
- Tight rental budgets. With 48% of Somerset County renters cost-burdened, test a new payment against a lean month.
- Paperwork. ID, proof of income and a bank account are the basics (requirements).
- Know your credit. Review all three bureau reports for free (AnnualCreditReport.com).
Somerset County demographics against Maryland
In Somerset County, 19% of adults have at least a four-year degree (43% in Maryland). About 4% go without health insurance.
| Indicator | Somerset County | +/- Maryland | +/- U.S. county |
|---|---|---|---|
| Bachelor's or higher | 19.4% | -24.1 pts | -2.8 pts |
| Work from home | 9.2% | -10.1 pts | +0.5 pts |
| Poverty rate | 16.4% | +6.9 pts | +3.2 pts |
| No high school diploma | 13.3% | +4.5 pts | n/a |
| No health insurance | 3.6% | -2.6 pts | -4.2 pts |
| Unemployment (ACS) | 7.5% | +2.6 pts | +3.0 pts |
| Median age | 38.1 | -1.3 yrs | -3.4 yrs |
| No vehicle | 7.6% | -1.2 pts | +2.2 pts |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 34.5% |
| 15 to 29 min | 27.5% |
| 30 to 44 min | 23.3% |
| 45 to 59 min | 10.0% |
| 60+ min | 4.7% |
Room for a loan payment in Somerset County
The debt-to-income ratio is the main affordability test lenders use. Applied to Somerset County's medians:
- Start: $5,412 gross per month ($64,943 / 12)
- Housing at the median rent of $1,013 uses 19%
- With a 35% ceiling, about $881 remains for car, card, student and any new loan payments
- With a 45% ceiling, about $1,422 remains for car, card, student and any new loan payments
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Four steps for Somerset County borrowers
A short checklist for Somerset County borrowers:
- Write down what the expense costs; a smaller loan costs less.
- Ask each lender for the APR and all fees in writing.
- Check the license, then the reviews, then the offer.
- Ask a Somerset County credit union about member loans.
Lender oversight for Somerset County
The Maryland Office of Financial Regulation is the place to verify any lender's Maryland license. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. See the Maryland state guide for the statewide picture.
Nearby and statewide guides
The Maryland guide covers the whole state.
Frequently asked questions
How much do households in Somerset County earn?
The median is $64,943; 28% earn $100,000 or more and 33% under $35,000. A lender uses your own documented income, not this figure.
Can a Somerset County renter afford a loan payment?
At the $1,013 median rent and $5,412 median monthly income, rent alone uses 19%; add other debts before a new payment.
Which towns does the Somerset County guide cover?
Every community in the county, unincorporated areas included. The largest of its 11 Census places: Princess Anne, Crisfield, Mount Vernon, Eden, West Pocomoke.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Somerset County or elsewhere in Maryland, the same rules apply.
Where can someone in Somerset County check a lender's license?
With the Maryland Office of Financial Regulation. If a lender is unlicensed or asks for a fee before funding, walk away.