Somerset is located close to the center of Maryland. Somerset is part of Montgomery County. Somerset has 0.27 square miles of land area and has no water area. As of 2010-2014, the total Somerset population is 1,148, which has grown 2.14% since 2000. The population growth rate is much lower than the state average rate of 11.16% and is much lower than the national average rate of 11.61%. Somerset median household income is $241,964 in 2010-2014 and has grown by 67.42% since 2000. The income growth rate is much higher than the state average rate of 40.25% and is much higher than the national average rate of 27.36%. Somerset median house value is $1,000,001 in 2010-2014 and has grown by 105.09% since 2000. The house value growth rate is higher than the state average rate of 96.92% and is much higher than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Somerset is better than the state average in quality.