What is the median household income in Somerset Township, MI?
The median household income in Somerset Township, MI is $89,303 (±$12,623) a year (2020–2024 American Community Survey).
Paying the median gross rent of $1,609 a month would take about $64,400 a year at the common guideline of spending no more than 30% of income on rent.
In Somerset Township, the median household income went from $66,755 in 2015–2019 to $89,303 in 2020–2024 (+33.8%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $89,303 (±$12,623)
- Median renter income
- $61,810 (±$12,827)
- Income to afford median rent
- about $64,400
Income in Somerset Township against Hillsdale County, its state and the nation
| Somerset Township | Hillsdale County | Michigan | United States | |
|---|---|---|---|---|
| Median household income | $89,303 (±$12,623) | $64,242 (±$2,663) | $72,875 (±$293) | $80,734 |
| Median renter household income | $61,810 (±$12,827) | $35,643 (±$4,168) | $42,352 (±$376) | $52,966 |
| Median owner household income | $96,750 (±$14,148) | $71,099 (±$2,978) | $87,130 (±$344) | $100,009 |
| Median gross rent | $1,609 (±$1,058) | $832 (±$27) | $1,129 (±$4) | $1,413 |
In Somerset Township, median household income is higher than in Hillsdale County ($64,242).
It is also higher than in Michigan ($72,875).
It is not measurably different from the national figure ($80,734).
In Hillsdale County, Somerset Township ranks 1 of 22 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 278 of 1,517.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Somerset Township
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $1,609 a month ($19,308 a year) needs an income of about $64,400 a year.
The median renting household in Somerset Township earns $61,810 a year, less than that.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $66,755 (±$7,131) | $89,303 (±$12,623) | +33.8% | No measurable change after inflation |
| Median gross rent | $947 (±$117) | $1,609 (±$1,058) | +69.9% | No measurable change after inflation |
| Median home value | $172,300 (±$29,580) | $251,100 (±$23,053) | +45.7% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Somerset Township
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Somerset Township | — | $89,303 (±$12,623) | — |
| Addison | 4.8 mi | $54,519 (±$7,146) | Lower |
| Moscow Township | 5.2 mi | $58,603 (±$12,506) | Lower |
| Cement City | 5.5 mi | $52,708 (±$11,183) | Lower |
| Liberty Township (Jackson County) | 5.5 mi | $102,969 (±$25,525) | Not measurably different |
| Woodstock Township | 5.9 mi | $69,038 (±$16,289) | Not measurably different |
| Wheatland Township (Hillsdale County) | 6.1 mi | $74,783 (±$16,123) | Not measurably different |
| North Adams | 6.8 mi | $52,813 (±$14,702) | Lower |
| Manitou Beach-Devils Lake | 8.0 mi | $83,980 (±$9,710) | Not measurably different |
Nearby places with a measurably lower figure: Addison, MI ($54,519), Moscow Township, MI ($58,603), Cement City, MI ($52,708).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Hillsdale County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 1 | Somerset Township | $89,303 (±$12,623) |
| 2 | Hillsdale Township | $88,965 (±$10,266) |
| 3 | Fayette Township | $76,328 (±$16,949) |
| 4 | Wheatland Township (Hillsdale County) | $74,783 (±$16,123) |
| 5 | Ransom Township | $71,000 (±$15,509) |
| 6 | Pittsford Township | $70,625 (±$19,762) |
| 7 | Scipio Township | $67,609 (±$11,200) |
Showing 7 of 22 places in Hillsdale County, ranked from highest to lowest.
The figures for Somerset Township include the places inside it that have pages of their own: Lake LeAnn.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
What you can do on Seayora in Somerset Township
One account for renting, owning, managing and fixing homes, with these figures beside you.
Own or manage a rental?
List it, sign the lease and collect rent online, with the figures for Somerset Township beside you.
Create a landlord account · See what landlords get
Looking for a place to rent?
Browse homes for rent near Somerset Township, save the ones you like and apply online.
Browse rentals · Create a renter account
Do repairs, renovations or maintenance?
Get found by owners and renters near Somerset Township, and send estimates and invoices from your phone.
Questions about Somerset Township
What is the median household income in Somerset Township?
The median household income in Somerset Township is $89,303 (±$12,623) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Somerset Township?
About $64,400 a year, if rent is to stay at or below 30% of income at the median gross rent of $1,609 a month.
Have incomes in Somerset Township kept up with inflation?
In Somerset Township, the median household income went from $66,755 in 2015–2019 to $89,303 in 2020–2024 (+33.8%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Somerset Township?
The median renting household in Somerset Township, MI earns $61,810 (±$12,827) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Somerset township, Hillsdale County, Michigan
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Somerset township, Hillsdale County, Michigan
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Somerset township, Hillsdale County, Michigan
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Somerset township, Hillsdale County, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Somerset township, Hillsdale County, Michigan
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Somerset township, Hillsdale County, Michigan
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Somerset township, Hillsdale County, Michigan (county subdivision:74560, in state:26 county:059).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Somerset Township at a glance
- Home values in Somerset Township
- Homeowner costs in Somerset Township
- Property taxes in Somerset Township
- Types of homes in Somerset Township
- Bedrooms in Somerset Township
- Age of homes in Somerset Township
- Heating fuel in Somerset Township
- Commute and cars in Somerset Township
- Crime reported to police in Somerset Township
- Population growth in Somerset Township
- How long people stay in Somerset Township
- Michigan landlord and tenant rules
- Housing across Hillsdale County
- Michigan places ranked by median household income
- Housing data for every place in Michigan