Somerset County, Maryland: commercial real estate data.
Somerset County, Maryland has a population of 24,822 across 320 square miles, up 2.5 percent since the 2020 census base. County output reached $1.23 bn in 2024, 360 establishments operate here, and the SBA record carries 6 7(a) approvals worth $1.2 m.
105 sourced county values · tier FULL · 11 sections
Somerset County
How many people live in Somerset County
- Population24,822
- Households8,348
- Average household size2.97
- Median household income$64,943
- Median age38.1
- Median gross rent$1,013 per month
- Median owner-occupied home value$173,200
- Home value to household income2.7 times
- Annual rent as a share of median income18.7 percent
- Adults 25 and over with a bachelor degree or higher19.4 percent
- Adults 25 and over with a graduate degree7.6 percent
- Adults 25 and over17,423
- Population under 184,336
- Share under 1817.5 percent
- Population 65 and over4,419
- Share 65 and over17.8 percent
- Working age population, 18 to 6416,067
- Civilian labor force9,705
- Unemployment rate7.5 percent
- Labor force participation, adults 18 and over47.4 percent
- Rank by population among Maryland counties23rd of 24
- Rank by population among US county-equivalents1671st
Somerset County is the 23rd largest of 24 Maryland counties by population. A median home costs 2.7 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 17.8 percent against 17.5 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Somerset County
Is Somerset County growing
- Population change since the 2020 census base2.53 percent
- Census 2020 base population24,619
- Births, 2024265
- Deaths, 2024332
- Natural change, 2024-67
- Net domestic migration, 2024172
- Net international migration, 202492
- Total net migration, 2024264
- Cumulative net domestic migration, 2021 to 2024722
- Rank by growth among US county-equivalents1001st
The county has grown 2.53 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Somerset County
Where people moving to Somerset County come from
- Tax returns filed by households arriving634
- People arriving, from those returns1,185
- Adjusted gross income arriving$31.2 m
- Net adjusted gross income movement$0
- Average income of an arriving household$49,248
- Largest single originSomerset County Non-migrants (7,101 households)
- Largest single destination (7,101 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Somerset County Non-migrants | 7,101 | 13,996 | $387.9 m |
| Wicomico County | 221 | 413 | $9.6 m |
| Other flows - Different State | 164 | 321 | $8.1 m |
| Other flows - South | 106 | 214 | $4.6 m |
| Other flows - Same State | 83 | 149 | $7.3 m |
| Worcester County | 69 | 134 | $2.7 m |
| Other flows - Northeast | 58 | 107 | $3.5 m |
| Sussex County | 28 | 57 | $830,000 |
The largest single source of arrivals is Somerset County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Somerset County
What the Somerset County economy runs on
- County GDP, 2024$1.23 bn
- County GDP, 2023$1.06 bn
- GDP change, 2023 to 202416.3 percent
- GDP change over five years44.2 percent
- Rank by GDP among Maryland counties24th
- Rank by GDP among US county-equivalents1684th
- GDP per resident$49,582
Output grew 16.3 percent in the latest year and 44.2 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Somerset County
Who employs people in Somerset County
- Covered employment, annual average6,963
- Establishments reporting452
- Average annual pay$58,162
- Average weekly wage$1,119
- Sector 62, employment920
- Sector 62, average annual pay$44,576
- Sector 44-45, employment558
- Sector 44-45, average annual pay$31,453
- Sector 31-33, employment493
- Sector 31-33, average annual pay$55,137
- Sector 42, employment444
- Sector 42, average annual pay$77,370
- Sector 72, employment299
- Sector 23, employment284
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 920 | 59 | $44,576 |
| Sector 44-45 | 558 | 63 | $31,453 |
| Sector 31-33 | 493 | 20 | $55,137 |
| Sector 42 | 444 | 13 | $77,370 |
| Sector 72 | 299 | 32 | $22,291 |
| Sector 23 | 284 | 53 | $53,580 |
| Sector 81 | 164 | 26 | $46,569 |
| Sector 11 | 126 | 21 | $60,341 |
The largest sector is the biggest private employer group at 920 jobs, 13.2 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Somerset County
What businesses operate in Somerset County
- Establishments, all industries360
- Employment at those establishments4,141
- Annual payroll$193.3 m
- Establishments per 1,000 residents14.5
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Somerset County
What is being built in Somerset County
- Housing units authorised by permit, 202447
- Declared construction value permitted$9.6 m
- Single family units authorised45
- Multifamily units authorised2
- Multifamily share of units4.3 percent
- Average declared value per unit$205,316
- Units authorised per 1,000 households5.6
Multifamily is 4.3 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Somerset County
How much SBA lending happens in Somerset County
- 7(a) approvals recorded6
- 7(a) gross approval dollars$1.2 m
- Average 7(a) approval$193,333
- Median 7(a) approval$65,000
- 10th percentile approval$45,000
- 90th percentile approval$800,000
- Largest single approval$800,000
- Jobs reported supported, 7(a)19
- Jobs per approval3.2
- Distinct 7(a) lenders active3
- Distinct industries receiving approvals5
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer0.0 percent
- Loans on real estate terms0
- Loans on working capital terms, 120 months or shorter5
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countAll Other Amusement and Recreation Industries (2)
- Most active lenderManufacturers and Traders Trust Company (3)
The average approval of $193,333 sits well above the median of $65,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 0.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Somerset County
Do SBA loans in Somerset County get paid back
- Loans with a final outcome recorded0
- Paid in full0
- Charged off0
- Status: Exempt from disclosure5
- Status: Cancelled1
Too few loans have reached a final outcome to publish a charge off rate. only 0 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Somerset County
Which parts of Somerset County get the lending
- Places in the county with recorded lending2
- Princess Anne, approvals4
- CRISFIELD, approvals2
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Princess Anne | 4 | $960,000 |
| CRISFIELD | 2 | $200,000 |
Princess Anne accounts for 4 approvals against 2 in CRISFIELD. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Somerset County
How big is Somerset County
- Land area320 sq mi
- Rank by land area among Maryland counties18th of 24
- Width, east to west28.2 mi
- Height, north to south25.8 mi
- Geographies sharing a boundary3
- Residents per square mile of land78
- Establishments per square mile1.13
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No 504 approvals recorded in this county in the FOIA release covering FY2010 onward.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Somerset County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Somerset County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population24,822
- Households8,348
- Average household size2.97
- Median household income$64,943
- Median age38.1
Common questions
Somerset County questions, answered from the record.
How many people live in Somerset County, Maryland?
24,822, in 8,348 households, ranking 23rd of 24 Maryland counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Somerset County growing?
The population has grown 2.53 percent since the 2020 census base. In 2024 there were 265 births against 332 deaths, with net migration of 264. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Somerset County?
$64,943. The median owner-occupied home is valued at $173,200, which is 2.7 times income, and median gross rent is $1,013 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Somerset County?
360 establishments, employing 4,141 people with an annual payroll of $193.3 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Somerset County?
Average annual pay is $58,162, or $1,119 a week, across 6,963 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Somerset County?
6 7(a) approvals totalling $1.2 m since FY2020, across 3 lenders, with a median approval of $65,000. These are approvals recorded in the release, not loans disbursed.
What is being built in Somerset County?
47 housing units were authorised by permit in 2024, with a declared construction value of $9.6 m. Multifamily was 4.3 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Somerset County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Somerset County come from?
The largest single origin is Somerset County Non-migrants, with 7,101 households. Arriving households report an average income of $49,248 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Somerset County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Somerset County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.