The typical owner-occupied home in Mercer County is worth about $198,500, 21% below the North Dakota median of $249,900 and 40% below the national median of $332,700. Owners pay a median $2,184 a year in property taxes, about 1.10% of their home's value, higher than the North Dakota rate of 0.99%. The median household earns $80,946 a year, so the median home costs 2.5 times the median income (3.3 times for North Dakota). 81% of occupied homes here are lived in by their owners, and 41% of those owners still have a mortgage.
Mercer County at a glance
| Mercer County | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $198,500 | $249,900 | $332,700 |
| Median property tax paid per year | $2,184 | $2,468 | $3,119 |
| Property tax as a share of value | 1.10% | 0.99% | 0.94% |
| Median household income | $80,946 | $76,657 | $80,734 |
| Homes lived in by their owners | 81% | 63% | 65% |
| Owner homes with a mortgage | 41% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,675 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 18.0% | 19.4% | 21.0% |
| Median rent | $1,031 | $954 | $1,413 |
| Rent as a share of renters' income | 35.5% | 25.0% | 30.6% |
| Median year homes were built | 1981 | 1982 | 1980 |
| Vacant homes | 23.0% | 12.3% | 10.1% |
| Population | 8,337 | 784,841 | 334,922,499 |
What a typical home costs per month in Mercer County
At this week's average 30-year rate of 7.11%, buying the median Mercer County home of $198,500 with 20% down costs about $1,333 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,664, 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 $57,126 for the 20%-down payment. That payment is 20% of the median Mercer County household income of $80,946; at that income and 20% down, the 28% guideline points to a home of about $281,000.
The median rent here is $1,031 a month, so owning the median home costs about $302 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,700 |
|---|---|
| Loan amount | $158,800 |
| Principal and interest | $1,068 |
| Property taxes (1.10% a year) | $182 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,333 |
Change the numbers in the calculator
| Down payment | $6,948 |
|---|---|
| Loan amount | $194,905 |
| Principal and interest | $1,311 |
| Property taxes (1.10% a year) | $182 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,664 |
Change the numbers in the calculator
Questions about home buying in Mercer County
What is the median home value in Mercer County?
About $198,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mercer County?
Homeowners pay a median $2,184 a year, which is about 1.10% 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 County?
For the median home with 20% down at 7.11%, the payment is about $1,333 a month. Keeping that under 28% of gross income takes about $57,126 a year.
More about Mercer County
- Mortgage Refinance in Mercer County
- Debt Relief in Mercer County
- Home Equity Loans in Mercer County
- 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