Somerset Village in Ames, Iowa, demonstrates a White Majority population, with 72% identifying as white in 2022. The neighborhood has transitioned from Low Diversity to increasing racial diversity over the past decade. The area's median income has fluctuated, showing a decrease in recent years. Somerset Village's proximity to Iowa State University likely influences its demographic and economic characteristics.

The neighborhood evolved from Low Diversity in 2013 to Moderate Diversity by 2022. The Asian population, consistently the second-largest group, grew from 22% in 2013 to 19% in 2022, peaking at 26% in 2020. This change may be attributed to an increase in international students and professionals, possibly related to the nearby university. The Hispanic population experienced the most significant growth, rising from 2% in 2013 to 6% in 2022, indicating Somerset Village's transition to a more diverse community. The black population also increased slightly, from 5% in 2013 to 3% in 2022.

Somerset Village's median income fluctuated notably over the decade. It increased from $94,101 in 2013 to $103,566 in 2017, followed by a significant decline to $75,238 in 2022. This economic shift correlates with the demographic changes. The initial increase in median income coincided with growing diversity, particularly in Asian and Hispanic populations. The subsequent sharp decline since 2017 occurred alongside continued diversity growth, potentially indicating a shift in immigration patterns or broader economic factors.