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Economic Atlas
Places/ME/Somerset
County profile

Somerset

United States · GDP 2024
#1118 of 3,127 US counties by GDP40th-percentile growthmore diversified than 65% of counties
EA Place Score
——
methodology in progress
GDP 2024 (USD)
$2.4B
GDP growth
+3.6%
Jobs tracked
12,763
Employers
1,211
Avg. wage
$51.8k
Population
51,620
Labor & formation
Unemployment
4.0%
Median HH income
$58.2k±$3.0k
Business applications
445 · 2025

Public companies headquartered here

SEC EDGAR · FMP
CompanySectorRevenueEA

No public companies loaded for this state yet — universe expands with the full ingest.

HQ-based placement with total (global) headcount — local employment attribution needs firmographic data; the industry mix at right is measured county data (CBP).

Industry mix · employment
Manufacturing26%
Retail trade25%
Health care24%
Food & accommodation11%
Construction8%
Admin & support6%
share of top-6 sector employment · CBP 2023
Population & migration
Census PEP · 2020–2025
51,620
residents · 2025 · +2.3% since 2020
Income per capita $53.4k · BEA 2024
COMPONENTS OF CHANGE · 2021–2025
Domestic migration+2,444
International migration+145
Natural change−1,461

GDP trend

2019–2024 · nominal
$1.8B
2019
$1.9B
2020
$2.0B
2021
$2.2B
2022
$2.4B
2023
$2.4B
2024

Real estate & risk

FHFA · ACS · FEMA
Median home value
$166.9k±$5.2k
Median gross rent
$910/mo±$45/mo
Vacancy rate
23.0%±1.1%
Affordability
3.2× wages
Residential permits
110 (2.1/1k pop)
FEMA risk score
67.9
HUD Fair Market Rent (2BR):no HUD FMR published for this area
TOP PERILS · FEMA NRI
Winter weather 95Cold wave 92Ice storm 90
FHFA HOUSE PRICE INDEX · 2016–2025
177
2016
186
2017
188
2018
201
2019
213
2020
244
2021
289
2022
328
2023
349
2024
382
2025

Transport access

BTS · FAA · USACE
Nearest interstate
90.5 km
I-95
Nearest freight rail
11.7 km
CPKC
Nearest port
122.7 km
BARRETT PAVING MATERIALS BANGOR WHARF
Nearest commercial airport
118.1 km
BANGOR INTL
Wage trend
BLS QCEW · 2019–2023
$51.8k
avg. annual pay · +26% since 2019
Similar US counties
nearest by GDP
Hawkins$2.4BJefferson$2.4BJefferson$2.4BAshland$2.4BFulton$2.4BOneida$2.4B
The read

Somerset's economy produced $2.4B in 2024, growing 3.6% year over year — about the middle of the pack among US counties. Its largest employment sector is manufacturing.

GDP: BEA (2024), USD-normalized · Jobs/employers/wages & industry mix: Census CBP (2023) · Population & migration: Census PEP · Income: BEA CAINC1 · Companies: SEC EDGAR + FMP, by HQ.
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