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Economic Atlas
Places/MD/Somerset
County profile

Somerset

United States · GDP 2024
#1684 of 3,127 US counties by GDPtop-decile growthmore diversified than 38% of counties
EA Place Score
——
methodology in progress
GDP 2024 (USD)
$1.2B
GDP growth
+16.3%
Jobs tracked
4,141
Employers
360
Avg. wage
$56.1k
Population
24,973
Labor & formation
Unemployment
4.2%
Median HH income
$64.9k±$8.3k
Business applications
197 · 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
Health care34%
Wholesale trade18%
Manufacturing16%
Retail trade15%
Food & accommodation8%
Construction8%
share of top-6 sector employment · CBP 2023
Population & migration
Census PEP · 2020–2025
24,973
residents · 2025 · +1.7% since 2020
Income per capita $41.4k · BEA 2024
COMPONENTS OF CHANGE · 2021–2025
Domestic migration+619
International migration+233
Natural change−404

GDP trend

2019–2024 · nominal
$852.2M
2019
$853.3M
2020
$951.0M
2021
$1.2B
2022
$1.1B
2023
$1.2B
2024

Real estate & risk

FHFA · ACS · FEMA
Median home value
$173.2k±$13.0k
Median gross rent
$1.0k/mo±$79/mo
Vacancy rate
23.6%±3.0%
Affordability
3.1× wages
Residential permits
35 (1.4/1k pop)
FEMA risk score
59.6
HUD Fair Market Rent (2BR):$1.2k/mo · 2026
TOP PERILS · FEMA NRI
Coastal flooding 93Hurricane 89Wildfire 86
FHFA HOUSE PRICE INDEX · 2016–2025
164
2016
160
2017
171
2018
176
2019
187
2020
204
2021
244
2022
255
2023
264
2024
284
2025
Wage trend
BLS QCEW · 2019–2023
$56.1k
avg. annual pay · +17% since 2019
Similar US counties
nearest by GDP
Juneau$1.2BSan Juan$1.2BCaddo$1.2BSimpson$1.2BWarren$1.2BBeadle$1.2B
The read

Somerset's economy produced $1.2B in 2024, growing 16.3% year over year — faster than 97% of US counties. Its largest employment sector is health care.

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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