Mercer County, Ohio 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 3% above the Ohio median$142,672
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Median rent 22% below the Ohio median Cheaper than 74% of counties in Ohio$804
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Mercer County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $142,672 | $139,044 | $248,835 |
| Price Trend (Annual %) | 11.4% | 6.7% | 7.5% |
| Median Gross Rent | $804 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mercer County is about 3% higher than in Ohio. Rent is about 22% lower than the Ohio 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 11.4% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Mercer County rose about 23.0% between 2015 and 2024, from $653 to $804. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Mercer County.
Buying the median-priced home in Mercer County costs roughly 14.8 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 Ohio is about 11.2.
| Metric | Mercer County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $142,672 | $139,044 | $248,835 |
| Median Household Income | $77,000 | $71,509 | $80,455 |
| Price-to-Income Ratio | 1.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mercer County rose about 69.9%, while median household income rose about 47.1% 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 | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.1% | 61.7% | 58.5% |
| Rental Rate | 18.5% | 30.1% | 31.2% |
| Vacancy Rate | 9.4% | 8.1% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Mercer County has a homeownership rate of 72.1%, higher than the Ohio average of 61.7%. Its housing vacancy rate is 9.4%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Mercer County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1973 | 1970 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Mercer County was built around 1973. On average, 2.6 people live in a home with about 6.2 rooms, staying for about 18.0 years on average.
Mercer County, OH Housing Compared With Nearby Counties
Mercer County, OH is the 2nd largest of the 4 counties compared here, 42,484 residents against a local median of 28,826. Where Mercer County, OH breaks from the counties next to it is median home price, sitting 69% above the local median of $84,445 at $142,672.
The counties themselves sit within $11,811 of each other on median home price, a tighter band than the gap between any of them and Mercer County, OH, which makes it a genuine outlier here rather than one end of a wide local spread. Mercer County, OH has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Mercer County, OH | 42,484 | $142,672 #1/4 | $804 #2/4 | 79.6% #3/4 |
| Van Wert County, OH | 28,826 | $84,445 | $781 | 82.1% |
| Jay County, IN | 20,223 | $75,839 | $769 | 79.9% |
| Auglaize County, OH | 46,123 | $87,651 | $867 | 78.1% |
Frequently Asked Questions
Common questions about the housing market in Mercer County, Ohio.
What is the median home price in Mercer County, Ohio?
The median home price in Mercer County, Ohio is $142,672, higher than the Ohio average of $139,044.
What is the average home price in Mercer County, Ohio?
The typical home price in Mercer County, Ohio, reported as the median sale price, is $142,672. 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, Ohio?
The median gross rent in Mercer County, Ohio is $804 per month, lower than the Ohio average of $1,033.
What was the median gross rent in Mercer County in 2020?
In 2020, the median gross rent in Mercer County, Ohio was $676 per month.
What is the price-to-rent ratio in Mercer County, Ohio?
The price-to-rent ratio in Mercer County, Ohio is about 14.8, meaning it would take roughly 14.8 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, Ohio?
Both home prices and rent are rising in Mercer County, up about 11.4% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mercer County, Ohio?
72.1% of households in Mercer County, Ohio own their home, higher than the Ohio average of 61.7%.
What is the vacancy rate in Mercer County, Ohio?
The housing vacancy rate in Mercer County, Ohio is 9.4%, higher than the Ohio average of 8.1%.
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