Total monthly cost of ownership
Cost to Own a Home in Hermitage, Pennsylvania
A $188,000 home here costs
$1,687per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $72,500 a year.
A standard mortgage calculator would have told you $1,025. The real number is $662 higher every month, 65% more than the payment most buyers budget for.
Compare Mercer County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hermitage against Mercer County and Pennsylvania
| Measure | Hermitage | Mercer County |
|---|---|---|
| Median home value | $187,600 | $153,600 |
| Median property tax | $2,356 | $1,943 |
| Effective tax rate | 1.256% | 1.265% |
| Median gross rent | $874 | $808 |
| Population | 16,132 | 109,852 |
The weather behind that power bill
Hermitage sits in Mercer County, which averages a high of 82.7°F in its hottest month and a low of 19.3°F in its coldest, with 41.19" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 633 cooling and 6,089 heating degree days, which is what sets the $178 electricity line above.
See the full climate breakdown for Mercer County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mercer County
Full Mercer County cost breakdown · Every county in Pennsylvania
Talk to someone who works this market
These are Hermitage averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hermitage every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hermitage I already own here and may sell
Common questions
How much does it cost to own a home in Hermitage?
A $188,000 home in Hermitage, Pennsylvania costs approximately $1,687 per month with 20% down at 7.24%. That is $1,025 principal and interest, $197 property tax, $63 homeowners insurance, $246 utilities and $157 set aside for maintenance.
What is the property tax rate in Hermitage?
Hermitage has an effective property tax rate of 1.256%, based on a median home value of $187,600 and median real estate taxes of $2,356. That is in line with the Mercer County average of 1.265%.
What is the average home price in Hermitage?
The median owner-occupied home value in Hermitage, Pennsylvania is $187,600, against $153,600 across Mercer County.
Is it cheaper to rent or buy in Hermitage?
Median gross rent in Hermitage is $874 a month, against $1,687 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hermitage?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hermitage, Pennsylvania at today's rate takes a household income of roughly $72,500 a year. That covers the full $1,687 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hermitage, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Pennsylvania.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.