The typical owner-occupied home in Mercer is worth about $84,300, 66% below the North Dakota median of $249,900 and 75% below the national median of $332,700. Owners pay a median $1,000 a year in property taxes, about 1.19% of their home's value, higher than the North Dakota rate of 0.99%. The median household earns $46,429 a year, so the median home costs 1.8 times the median income (3.3 times for North Dakota). 100% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Mercer at a glance
| Mercer | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $84,300 | $249,900 | $332,700 |
| Median property tax paid per year | $1,000 | $2,468 | $3,119 |
| Property tax as a share of value | 1.19% | 0.99% | 0.94% |
| Median household income | $46,429 | $76,657 | $80,734 |
| Homes lived in by their owners | 100% | 63% | 65% |
| Owner homes with a mortgage | 25% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $871 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 23.6% | 19.4% | 21.0% |
| Median rent | – | $954 | $1,413 |
| Median year homes were built | 1959 | 1982 | 1980 |
| Vacant homes | 23.1% | 12.3% | 10.1% |
| Population | 66 | 784,841 | 334,922,499 |
What a typical home costs per month in Mercer
At this week's average 30-year rate of 7.11%, buying the median Mercer home of $84,300 with 20% down costs about $572 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $713, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,531 for the 20%-down payment. That payment is 15% of the median Mercer household income of $46,429; at that income and 20% down, the 28% guideline points to a home of about $160,000.
| Down payment | $16,860 |
|---|---|
| Loan amount | $67,440 |
| Principal and interest | $454 |
| Property taxes (1.19% a year) | $84 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $572 |
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| Down payment | $2,950 |
|---|---|
| Loan amount | $82,773 |
| Principal and interest | $557 |
| Property taxes (1.19% a year) | $84 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $713 |
Change the numbers in the calculator
Questions about home buying in Mercer
What is the median home value in Mercer?
About $84,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mercer?
Homeowners pay a median $1,000 a year, which is about 1.19% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Mercer?
For the median home with 20% down at 7.11%, the payment is about $572 a month. Keeping that under 28% of gross income takes about $24,531 a year.
More about Mercer
- Mortgage Refinance in Mercer
- Debt Relief in Mercer
- Home Equity Loans in Mercer
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data