Mercer County, Missouri Housing Market Prices
Mercer County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 35% below the Missouri median$95,000
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Median rent 43% below the Missouri median Cheaper than 94% of counties in Missouri$589
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Mercer County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,000 | $145,462 | $248,835 |
| Price Trend (Annual %) | 212.3% | 5.2% | 7.5% |
| Median Gross Rent | $589 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 1.8% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mercer County is about 35% lower than in Missouri. Rent is about 43% lower than the Missouri average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Mercer County, up about 212.3% and 1.8% a year respectively. Home prices are changing faster.
Median rent in Mercer County rose about 19.1% between 2015 and 2024, from $495 to $589. Over the same span, rent in Missouri rose about 38.6%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Mercer County.
Buying the median-priced home in Mercer County costs roughly 13.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mercer County. The price-to-rent ratio in Missouri is about 11.7.
| Metric | Mercer County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $95,000 | $145,462 | $248,835 |
| Median Household Income | $61,611 | $70,801 | $80,455 |
| Price-to-Income Ratio | 1.5 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mercer County rose about 222.0%, while median household income rose about 71.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mercer County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.5% | 60.5% | 58.5% |
| Rental Rate | 13.0% | 28.3% | 31.2% |
| Vacancy Rate | 31.5% | 11.2% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Mercer County has a homeownership rate of 55.5%, lower than the Missouri average of 60.5%. Its housing vacancy rate is 31.5%, compared with 11.2% in Missouri.
Housing Stock
| Metric | Mercer County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.40 people | 2.53 people |
| Median Structure Built Year | 1969 | 1978 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Mercer County was built around 1969. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 16.0 years on average.
Mercer County, MO Housing Compared With Nearby Counties
How Mercer County, MO compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Mercer County, MO | 3,482 | $95,000 #1/2 | $589 #2/2 | 81.0% #1/2 |
| Grundy County, MO | 9,787 | $28,804 | $695 | 69.7% |
Frequently Asked Questions
Common questions about the housing market in Mercer County, Missouri.
What is the median home price in Mercer County, Missouri?
The median home price in Mercer County, Missouri is $95,000, lower than the Missouri average of $145,462.
What is the average home price in Mercer County, Missouri?
The typical home price in Mercer County, Missouri, reported as the median sale price, is $95,000. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Mercer County, Missouri?
The median gross rent in Mercer County, Missouri is $589 per month, lower than the Missouri average of $1,033.
What was the median gross rent in Mercer County in 2020?
In 2020, the median gross rent in Mercer County, Missouri was $515 per month.
What is the price-to-rent ratio in Mercer County, Missouri?
The price-to-rent ratio in Mercer County, Missouri is about 13.4, meaning it would take roughly 13.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mercer County.
Are home prices or rent rising faster in Mercer County, Missouri?
Both home prices and rent are rising in Mercer County, up about 212.3% and 1.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mercer County, Missouri?
55.5% of households in Mercer County, Missouri own their home, lower than the Missouri average of 60.5%.
What is the vacancy rate in Mercer County, Missouri?
The housing vacancy rate in Mercer County, Missouri is 31.5%, higher than the Missouri average of 11.2%.
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