Somerset
A median age of 48 places Somerset 8 years above the national figure, which is the single most diagnostic fact about this coastal northwest Tasmanian suburb. Households sit at the 17.5th income percentile nationally, yet 41.1% own their homes outright, a combination that points to long-settled, lower-income residents who acquired property decades ago rather than a recently arrived buyer cohort. Population growth over 10 years reached only 2.3%, and the suburb scores IRSAD decile 1, meaning it ranks among the most disadvantaged communities in Australia. With 89.9% separate houses and a median price of $490,000, Somerset represents affordable detached housing well below state capital benchmarks.
Population
4,067
Median Age
48.0
Household IncomeiMedian weekly household income (ABS Census)
$1,100/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$490K
YTD 2026
At $490,000 the median house price is substantially lower than Hobart's market and accessible relative to most Australian coastal suburbs. The price peaked at $498,000 in 2025, sitting just 1.6% above the current level, which suggests the market cooled modestly after a strong run. Looking back further, prices have risen 538.4% since 1996, a 6.4% compound annual growth rate over 30 years. The mortgage-to-income ratio sits at 25.0%, below the 30% stress threshold, so buyers who can raise a deposit face manageable ongoing repayments averaging $1,192 per month. Stock is overwhelmingly detached houses at 89.9%, with 53.7% three-bedroom and 18.3% four-plus bedroom dwellings, meaning most purchases will be family-sized homes rather than units. The 30.7% carrying mortgages is lower than the national average, consistent with an older, settled ownership base.
For Buyers
At $490,000 the median house price is substantially lower than Hobart's market and accessible relative to most Australian coastal suburbs. The price peaked at $498,000 in 2025, sitting just 1.6% above the current level, which suggests the market cooled modestly after a strong run. Looking back further, prices have risen 538.4% since 1996, a 6.4% compound annual growth rate over 30 years. The mortgage-to-income ratio sits at 25.0%, below the 30% stress threshold, so buyers who can raise a deposit face manageable ongoing repayments averaging $1,192 per month. Stock is overwhelmingly detached houses at 89.9%, with 53.7% three-bedroom and 18.3% four-plus bedroom dwellings, meaning most purchases will be family-sized homes rather than units. The 30.7% carrying mortgages is lower than the national average, consistent with an older, settled ownership base.
For Investors
The 28.2% renter share is below national average but represents a real tenant market given the suburb's 4,067 residents. Weekly rent of $240 against a $490,000 median implies a gross yield near 2.5%, higher than most capitals but modest in absolute terms. The vacancy rate of 5.9% sits above the typical 3% threshold that signals supply-demand balance, suggesting landlords may face longer let-up periods. Net internal migration averages 22 arrivals per year and overseas migration adds 6, supporting steady if gradual demand. Annual population growth of 0.26%, or roughly 11 persons per year, is slow, and the 10-year change was only 2.3%. Development activity is nil at 0 applications in the past 12 months, which limits new supply competing with existing stock but also signals limited local economic expansion.
Schools in Somerset iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Australian Christian College - Burnie
1-10 · 28 students
Somerset Primary School
K-6 · 370 students
Demographics
The median age of 48 sits 8 years above the national figure, and that gap reflects a decade of structural aging: the senior share rose 5.5 points while the young-adult share fell 2.4 points. University qualifications reach only 17.4%, which is 12.7 percentage points below national, and overseas-born residents are 8.5%, some 13.1 points lower than the national proportion, making Somerset one of the more homogeneous and locally-rooted communities in the data. Ancestry is predominantly English (1,858 residents), Irish (412) and Scottish (367), consistent with the longstanding Anglo-Celtic heritage of northwest Tasmania. Average household size of 2.2 is 0.3 below the national figure, reflecting the older profile where couples without children account for 36.2% of families. Volunteering runs at 15% of the population, indicating active local participation despite lower income levels.
Age Distribution
Bedrooms
Dwelling Structure
89.9%
Houses
6.7%
Townhouse
0.4%
Apartment
Tenure
Tenure patterns reflect a settled, older community: 41.1% own outright, 30.7% carry a mortgage and 28.2% rent. Outright owners outnumber renters by a significant margin, unusually strong for a low-income suburb and explained by the long-established resident base. The price history spans 30 years from $76,750 in 1996 to $490,000 in 2026, with a 6.4% compound annual growth rate, tracking well above inflation over the full cycle. The trough of $60,000 in 1999 underscores how far the market has moved. At 89.9%, separate houses dominate more completely than in most Australian suburbs, with semi-detached at 6.7% and apartments at 0.4%. Three-bedroom homes are the modal type at 53.7%, and rent-to-income at 21.8% keeps housing affordable for tenants, below the 30% stress threshold.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,192
Rent / wk
$240
HH Size
2.2
Personal Income / wk
$602
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
5.9%
Unoccupied
107
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
21.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.0%
Community Profile
Ancestry
Household Composition
36.2%
Couples, no children
3,019
Total families
Economy & Employment
Healthcare dominates local employment at 25.4% of the workforce (260 workers), roughly double its share in a typical suburb, which is consistent with the aging population requiring more health services. Education follows at 12.0% (123 workers), then Construction at 7.3%, Retail at 7.2% and Manufacturing at 6.9%. By occupation, Professionals lead at 270, but Labourers at 232 and Community/Personal at 223 reflect a blue-collar and care-sector workforce more typical of regional than metropolitan areas. Unemployment sits at 6.8%, above the national average, and the participation rate of 48.6% is low, partly because 1,411 residents are not in the labour force, a figure that mirrors the suburb's older age profile. SEIFA IRSD scores at decile 2 and IRSAD at decile 1 confirm high relative disadvantage by national standards. Real income growth of 15.7% over the decade is positive but from a low base.
Unemployment
3.5%
Labour Force
2,045
Unemployed
71
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
60.8%
Part-time
32.4%
Participation
48.6%
Employed
1,547
Occupations
Top Industries
University
17.4%
Postgraduate
3.6%
Born Overseas
8.5%
Dwellings
1,708
Transport to Work
Car dependency is pronounced at 90.9% driving to work, compared to the national average, while only 1.3% use public transport and 2.8% walk or cycle, consistent with a regional suburb without rail access. No schools are recorded in the suburb boundary, so families depend on nearby northwest Tasmanian institutions. The need-for-assistance rate of 10.6% (407 people) is elevated relative to most suburbs, directly linked to the older median age of 48 and IRSD decile 2 disadvantage score. Mortgage stress is absent at a 25.0% mortgage-to-income ratio, and rent stress does not apply at 21.8%, meaning housing costs are contained for both tenants and buyers. The IRSAD decile 1 ranking places Somerset in the lowest advantage tier nationally, a meaningful indicator for households relying on community services. Vacancy at 5.9% is above the equilibrium level, giving renters more choice than in tighter coastal markets.
Drive
90.9%
Public Transport
1.3%
Walk / Cycle
2.8%
Work from Home
N/A
Population Forecast
+0.26%/yr
(+11 people/yr)
EstablishedPopulation has held remarkably steady over recent years: 4,177 in 2023, 4,216 in 2024 and 4,169 in 2025, with the current estimate at 4,067. Medium forecasts project slow growth to around 4,244 by 2031, an annual increment of roughly 11 persons, consistent with the 0.26% trend rate. The 10-year population change of 2.3% is well below state and national norms. Migration is balanced, with 22 net internal arrivals and 6 overseas annually, but these gains are offset by natural change effects from the aging population. Rent has grown 37.1% over the period, well above income growth of 15.7%, which tightens affordability for renters even though absolute prices remain low. The gentrification score of 19 and a not-gentrifying classification mean no uplift catalyst is visible. Affordability improved slightly from 41.4% in 2011 to 39.9% in 2021.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Balanced
Net Overseas / yr
+6
Net Internal / yr
+22
Gentrification Signal
Not gentrifying
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Somerset compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Somerset a good suburb to live in?
Somerset suits buyers who prioritise affordability and a settled, low-density environment. The median house price of $490,000 is accessible, mortgage costs average $1,192 per month, and 41.1% of residents own outright. The trade-offs are an IRSAD decile 1 disadvantage ranking, a 6.8% unemployment rate above the national average, and limited public transport at 1.3% usage.
What is the median house price in Somerset?
The median house price is $490,000 as of 2026, down slightly from a peak of $498,000 in 2025. Prices have grown 538.4% since 1996, a 6.4% compound annual rate over 30 years. Weekly rent averages $240 and monthly mortgage repayments run about $1,192.
What schools are in Somerset?
No schools are recorded within the Somerset suburb boundary in this dataset. Families rely on schools in nearby northwest Tasmanian towns. The local university qualification rate of 17.4% is 12.7 percentage points below the national figure, reflecting broader regional education patterns.
Is Somerset safe?
Crime statistics are not available for Somerset in this dataset. As an indirect measure, Somerset scores IRSD decile 2, meaning it ranks among the more disadvantaged suburbs nationally on relative deprivation, and unemployment at 6.8% is above national average. The 10.6% need-for-assistance rate (407 residents) reflects the older and lower-income profile rather than crime levels specifically.
Is Somerset good for property investment?
Weekly rent of $240 against a $490,000 median implies a gross yield near 2.5%, higher than capital city norms. However, the vacancy rate of 5.9% is above the 3% equilibrium level, and annual population growth of 0.26% (about 11 persons) is slow. The 30-year CAGR of 6.4% demonstrates long-run capital growth, though future prospects depend on northwest Tasmania's employment base.
How is Somerset's population changing?
Somerset's population has been essentially flat, moving from 4,177 in 2023 to 4,169 in 2025, with a 10-year growth rate of just 2.3%. Medium forecasts project around 4,244 residents by 2031. The suburb is aging: the senior share rose 5.5 points over the decade, and median age at 48 is 8 years above national.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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