Mercer County, Pennsylvania 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 14% below the Pennsylvania median$131,583
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Median rent 30% below the Pennsylvania median$843
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Mercer County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,583 | $152,469 | $248,835 |
| Price Trend (Annual %) | 3.8% | 3.7% | 7.5% |
| Median Gross Rent | $843 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mercer County is about 14% lower than in Pennsylvania. Rent is about 30% lower than the Pennsylvania 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 3.8% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Mercer County rose about 35.8% between 2015 and 2024, from $621 to $843. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Mercer County.
Buying the median-priced home in Mercer County costs roughly 13.0 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 Pennsylvania is about 10.5.
| Metric | Mercer County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,583 | $152,469 | $248,835 |
| Median Household Income | $59,980 | $78,249 | $80,455 |
| Price-to-Income Ratio | 2.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mercer County rose about 35.1%, while median household income rose about 35.4% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mercer County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.1% | 63.0% | 58.5% |
| Rental Rate | 25.2% | 27.9% | 31.2% |
| Vacancy Rate | 8.7% | 9.1% | 10.2% |
| Median Tenure (years) | 19.0 | 17.0 | 15.0 |
| Median Year Moved In | 2007 | 2009 | 2011 |
Mercer County has a homeownership rate of 66.1%, higher than the Pennsylvania average of 63.0%. Its housing vacancy rate is 8.7%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | Mercer County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1966 | 1966 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Mercer County was built around 1966. On average, 2.2 people live in a home with about 6.0 rooms, staying for about 19.0 years on average.
Mercer County, PA Housing Compared With Nearby Counties
Mercer County, PA is the 3rd largest of the 6 counties compared here, 109,257 residents against a local median of 85,016. The measure that sets Mercer County, PA apart most is median home price: $131,583, 59% above the local median of $82,903.
The counties themselves spread $118,073 on median home price, so Mercer County, PA sits at one end of an already wide local range rather than apart from it. Mercer County, PA has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Mercer County, PA | 109,257 | $131,583 #2/6 | $843 #2/6 | 72.4% #5/6 |
| Lawrence County, PA | 85,016 | $92,069 | $830 | 75.8% |
| Crawford County, PA | 82,709 | $82,903 | $802 | 74.7% |
| Trumbull County, OH | 200,835 | $77,547 | $796 | 71.3% |
| Venango County, PA | 49,798 | $54,195 | $794 | 75.3% |
| Butler County, PA | 197,141 | $172,268 | $1,041 | 76.9% |
Frequently Asked Questions
Common questions about the housing market in Mercer County, Pennsylvania.
What is the median home price in Mercer County, Pennsylvania?
The median home price in Mercer County, Pennsylvania is $131,583, lower than the Pennsylvania average of $152,469.
What is the average home price in Mercer County, Pennsylvania?
The typical home price in Mercer County, Pennsylvania, reported as the median sale price, is $131,583. 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, Pennsylvania?
The median gross rent in Mercer County, Pennsylvania is $843 per month, lower than the Pennsylvania average of $1,208.
What was the median gross rent in Mercer County in 2020?
In 2020, the median gross rent in Mercer County, Pennsylvania was $682 per month.
What is the price-to-rent ratio in Mercer County, Pennsylvania?
The price-to-rent ratio in Mercer County, Pennsylvania is about 13.0, meaning it would take roughly 13.0 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, Pennsylvania?
Both home prices and rent are rising in Mercer County, up about 3.8% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mercer County, Pennsylvania?
66.1% of households in Mercer County, Pennsylvania own their home, higher than the Pennsylvania average of 63.0%.
What is the vacancy rate in Mercer County, Pennsylvania?
The housing vacancy rate in Mercer County, Pennsylvania is 8.7%, lower than the Pennsylvania average of 9.1%.
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