RANK #872 / 1001 NAT · POP 50,959
1YR FORECAST: +2.9%
5YR OUTLOOK: -11%
Skowhegan, the county seat of Somerset County, Maine, is known for the Kennebec River flowing through its downtown and the annual Skowhegan State Fair, the oldest continuously running state fair in the U.S.. Located in west-central Maine, Somerset County is about a three-hour drive from Boston. The county is characterized by its mountains, forests, and waterways, including Flagstaff Lake and the Kennebec and Moose Rivers. Outdoor recreation is a significant draw, with opportunities for hiking, skiing, whitewater rafting, fishing, and snowmobiling, particularly in areas like the Moosehead Lake region and along the Kennebec River. Life in Somerset County often involves a connection to the outdoors and a sense of community. The county's economy has historically relied on logging, paper milling, and tourism. Recent economic developments include efforts to diversify the wood products industry and expand broadband infrastructure to support businesses and remote workers. Companies like New Balance have expanded their manufacturing presence in Skowhegan, and Maine Grains, a local grain processor, is also a notable employer. Several school districts serve the county, including RSU 54/MSAD 54 in Skowhegan and Maine Central Institute in Pittsfield.
Somerset County is one of 35 U.S. counties in this market profile — weaker than typical on the BoomTown Index. Within this cohort, its recent home-price change of +2.4% runs above the profile's typical +1.4%.
See all 35 Secondary Market Surge counties →Overvalued relative to economy
Above national median
Moderate climate & terrain
Above national median (15x)
Housing looks overvalued at 9.2x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Bars show percentile rank among all 1001 counties.
The data is not encouraging — Somerset County scores just 12/100 on the Boom Town Index, ranking #872 of 1001 counties. Job growth at -1.5% and median household income of $58,179 reflect an economy that has been contracting or stagnating relative to the rest of the country.
Housing in Somerset County is roughly in line with national affordability norms. The median home costs $166,900 and the income-to-home-value ratio sits at 0.35, with rents averaging $910/month. Not a bargain, but not a stretch for most local earners either.
Somerset County's job market is contracting (-1.5% YoY) while population is roughly stable (+0.2% change). Home values are +2.4% over the past 12 months. Hiring headwinds without an offsetting exodus — residents are staying, but local employers are shedding payroll.
There's a moderate stream of newcomers. About 3.97% of residents moved from another state, which is above average and suggests Somerset County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.