The typical owner-occupied home in Mercer County is worth about $164,000, 36% below the Pennsylvania median of $254,500 and 51% below the national median of $332,700. Owners pay a median $1,936 a year in property taxes, about 1.18% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $59,976 a year, so the median home costs 2.7 times the median income (3.3 times for Pennsylvania). 72% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Mercer County at a glance
| Mercer County | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $164,000 | $254,500 | $332,700 |
| Median property tax paid per year | $1,936 | $3,311 | $3,119 |
| Property tax as a share of value | 1.18% | 1.30% | 0.94% |
| Median household income | $59,976 | $77,971 | $80,734 |
| Homes lived in by their owners | 72% | 69% | 65% |
| Owner homes with a mortgage | 48% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,266 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 17.4% | 19.4% | 21.0% |
| Median rent | $843 | $1,209 | $1,413 |
| Rent as a share of renters' income | 28.3% | 29.2% | 30.6% |
| Median year homes were built | 1963 | 1965 | 1980 |
| Vacant homes | 8.7% | 9.2% | 10.1% |
| Population | 109,257 | 13,018,639 | 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 $164,000 with 20% down costs about $1,112 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,385, 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 $47,665 for the 20%-down payment. That payment is 22% of the median Mercer County household income of $59,976; at that income and 20% down, the 28% guideline points to a home of about $206,000.
The median rent here is $843 a month, so owning the median home costs about $269 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $32,800 |
|---|---|
| Loan amount | $131,200 |
| Principal and interest | $883 |
| Property taxes (1.18% a year) | $161 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| PMI | $0 |
| Total per month | $1,112 |
Change the numbers in the calculator
| Down payment | $5,740 |
|---|---|
| Loan amount | $161,030 |
| Principal and interest | $1,083 |
| Property taxes (1.18% a year) | $161 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| FHA mortgage insurance | $73 |
| Total per month | $1,385 |
Change the numbers in the calculator
Questions about home buying in Mercer County
What is the median home value in Mercer County?
About $164,000 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 $1,936 a year, which is about 1.18% 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 $1,112 a month. Keeping that under 28% of gross income takes about $47,665 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