The typical owner-occupied home in Hermitage is worth about $199,500, 22% below the Pennsylvania median of $254,500 and 40% below the national median of $332,700. Owners pay a median $2,380 a year in property taxes, about 1.19% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $70,052 a year, so the median home costs 2.8 times the median income (3.3 times for Pennsylvania). 70% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Hermitage at a glance
| Hermitage | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $199,500 | $254,500 | $332,700 |
| Median property tax paid per year | $2,380 | $3,311 | $3,119 |
| Property tax as a share of value | 1.19% | 1.30% | 0.94% |
| Median household income | $70,052 | $77,971 | $80,734 |
| Homes lived in by their owners | 70% | 69% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,414 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 17.3% | 19.4% | 21.0% |
| Median rent | $896 | $1,209 | $1,413 |
| Rent as a share of renters' income | 28.1% | 29.2% | 30.6% |
| Median year homes were built | 1970 | 1965 | 1980 |
| Vacant homes | 3.5% | 9.2% | 10.1% |
| Population | 16,041 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Hermitage
At this week's average 30-year rate of 7.11%, buying the median Hermitage home of $199,500 with 20% down costs about $1,355 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,687, 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 $58,054 for the 20%-down payment. That payment is 23% of the median Hermitage household income of $70,052; at that income and 20% down, the 28% guideline points to a home of about $241,000.
The median rent here is $896 a month, so owning the median home costs about $459 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,900 |
|---|---|
| Loan amount | $159,600 |
| Principal and interest | $1,074 |
| Property taxes (1.19% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,355 |
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| Down payment | $6,982 |
|---|---|
| Loan amount | $195,887 |
| Principal and interest | $1,318 |
| Property taxes (1.19% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,687 |
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Questions about home buying in Hermitage
What is the median home value in Hermitage?
About $199,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hermitage?
Homeowners pay a median $2,380 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 Hermitage?
For the median home with 20% down at 7.11%, the payment is about $1,355 a month. Keeping that under 28% of gross income takes about $58,054 a year.
More about Hermitage
- Mortgage Refinance in Hermitage
- Debt Relief in Hermitage
- Home Equity Loans in Hermitage
- 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