Rent-to-Own Homes in Somerset, KY: What You Need to Know
In 1798, a group of east-coasters transplanted themselves in what is the eastern tip of the Mississippian Plateau. Naming their settlement after the New Jersey county of their origin, Somerset, they incorporated as a city in 1887. By then it was already the seat of Pulaski County. Somerset saw two Civil War battles in 1862 and 1863 and experienced a population swell when the Southern Railroad was finished in 1875. Industry likewise boomed. Three-quarters of a century later, Lake Cumberland, among the biggest man-made lakes on earth, transformed Somerset into a recreation mecca and popular tourist destination.
Somerset, KY’s Weather and Climate
Somerset is not known for extreme weather, but it does enjoy the change of seasons. On an annual basis, the high-temperature averages 66ºF, and the night-time low averages at 45ºF. Summer highs hover around 85ºF, while January lows drop to 25ºF, more or less. The average yearly precipitation is around 50 inches, about six of which is normally snow. Of the 50 inches, most rainfall occurs between April and May. January is when snow falls most often.
What are the Best Job Opportunities in Somerset, KY?
While Somerset does not host any major Fortune 500 companies, it does have several local and regional employers that hire consistently. The Southern Belle Dairy Co., LLC has a staff of 175 employees and an annual budget of $70.5 million. South Kentucky RECC is a rural electric cooperative providing power to 66,000 residents. It also employs 175 workers and operates on a $35 million budget. For small businesses, the Somerset-Pulaski Economic Development Authority offers mini-grants among the aid it delivers to entrepreneurs to grow their businesses and serve the community.
Shopping in Somerset, KY
Applex Outlet offers reasonable prices as an outlet store for Amazon retailers, eBay sellers, and other purveyors of jewelry, kitchen appliances, bric-a-brac, containers, and many other categories, all priced at huge discounts. Persnickety Jane sells women's clothes and accessories, while the Lake Cumberland Flea Market has numerous antiques and other consignment items for sale at attractive prices. In addition, TJ Maxx has a presence in Somerset, where it conveys its nationally recognized inventory of men's and women's clothes. Mall-lovers take advantage of the Tradewinds Shopping Center, and craft-lovers have a Hobby Lobby right in town.
What is the Cost of Living in Somerset, KY?
For general comparison, the cost of living in Somerset is 5% lower than the statewide average and 15% below the U.S. average. The average home price sits at $105,100, and rental payments center on $577 per month. Income tax and sales tax in Kentucky are 5% and 6%, respectively.