At £30.294, median annual full-time earnings in Somerset (2022) are lower than they are both regionally and nationally, Somerset’s part-time workers earnings are also lower that the South West and Nationally. There is also a significant difference between earnings for men and women, especially for full-time work, and even more so in Somerset than is the case regionally and nationally.
At £20,770 (2020), estimated disposable household income is lower in Somerset than it is nationally. However, in recent years it has been roughly on a par with the national average.
Housing in Somerset is less affordable than it is nationally, with a typical home in Somerset costing nearly 9 times the typical annual wage. House prices have been continually rising since 2009 following the financial crisis and economic downturn.