Somerset is a smaller suburb in Tasmania within the Waratah-Wynyard local government area (postcode 7322). With a population of 4,067, the suburb has a mature demographic with a median age of 48. Households earn a median income of $57K per year, with an average household size of 2.2 people. The most common occupations are professionals, technicians & trades, labourers. The top ancestries reported are Australian, English, Irish.

The median house price in Somerset is $435,000, having risen modestly 1.6% over the past year. Units have a median price of $350,000. The current median weekly rent is $470. This gives a gross rental yield of approximately 5.6%. The median monthly mortgage repayment is $1,192.

Somerset is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 952, which is around the national average of 1,000. Public transport access includes 35 bus stops.

From an investment perspective, Somerset offers a gross rental yield of 5.6%, rated as high yield. Property prices sit below the state median ($435K/$750K), suggesting a potential value opportunity. The price-to-income ratio of 7.6x is considered moderate. House prices have moved +1.6% year-on-year.