$1,075 - $1,150
Total Monthly Price
- 2 Beds
- 1 Bath
- 966 Sq Ft
- Condo for Rent
12 Charlottes Place, Somerset, KY 42503
Frequently Asked Questions
How much does it cost to rent a condo in Somerset, KY?
The median rent for a condo in Somerset, KY is $925 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Somerset, KY?
To comfortably afford the median rent in Somerset, KY, a household needs to earn roughly $47,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,197 per month in Somerset, KY, renters typically need to show $3,591 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Somerset, KY?
In Somerset, KY, the price-to-rent ratio is 19.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
