Somerset is an unincorporated census-designated place in Waltz Township, Wabash County, in the U.S. state of Indiana. As of the 2020 census, Somerset had a population of 385.
The post office at Somerset has been in operation since 1848. An old variant name of the community was called Springfield.
Somerset was relocated when the Mississinewa dam was created. The original Somerset was located near the dam, and is now underwater.