Retirement Planning in Somerset County, MD
What does it take to retire comfortably in Somerset County? Here are the numbers.
Median Income
$52,149
Retirement Income (80%)
$41,719
Est. Nest Egg Needed
$586,675
Cost of Living Index
80
Retirement Income Analysis
Income Needs (Annual)
Housing Costs
About Somerset County, Maryland
Somerset County in Maryland has a median household income of $52,149 and a homeownership rate of 67.5%. Using the 4% rule, retirees in this county would need approximately $586,675 in savings to cover the gap between Social Security and their target retirement income.
These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.
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