Somerset, KY Overview Somerset, KY is a small town located in the south-central area of the state, at the eastern end ...
Somerset, KY Overview
Somerset, KY is a small town located in the south-central area of the state, at the eastern end of the Mississippian Plateau and about 76 miles from Lexington. This sleepy, rural community is the county seat of Pulaski County. It has a population of less than 11,200 people in the city proper and almost 64,000 in the area, but that number swells in the summer. Somerset, KY created one of the largest manmade lakes in the world, Lake Cumberland, in 1950, and it has since grown into one of the state's larger recreation centers. Over 1.7 million people visit the town every year, making tourism is a big industry in Somerset, KY.
The cost of living is very low in Somerset, KY, at just 83 percent of the national average. Housing is particularly low at just 61 percent of the national average, but utilities, grocery costs and miscellaneous costs like clothing, entertainment and repairs are about 10 percent less than average. The median home price is $104,300, while the median salary is $34,000.
Somerset, KY Job Opportunities
With so many visitors annually, it is no surprise that Somerset, KY has many industries to serve those visitors. It has a mall with 25 stores and has dozens of chain restaurants, including a Starbucks. There are also a lot of hotels, gas stations, and supermarkets. These food service and hospitality present strong opportunities for local jobs. Somerset, KY is also home to several factories and there is a fair amount of office and administrative work as well as education positions. Major employers include Pulaski County Schools, Communities at Oakwood, Lake Cumberland Regional Hospital, Super Service, Toyotetsu, Lifeline Home Health Care and Wal-Mart.
Somerset, KY Employment Trends
The unemployment rate in Somerset, KY is 8.4 percent, versus a national unemployment rate of 5.3 percent, but there is some growth in available jobs expected. Most of this increase will be in healthcare or tourism and its related industries.