Total monthly cost of ownership
Cost to Own a Home in Mercer, Pennsylvania
A $130,000 home here costs
$1,235per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $668. The real number is $567 higher every month — 85% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Mercer against Mercer County and Pennsylvania
| Measure | Mercer | Mercer County |
|---|---|---|
| Median home value | $130,300 | $153,600 |
| Median property tax | $1,843 | $1,943 |
| Effective tax rate | 1.414% | 1.265% |
| Median gross rent | $644 | $808 |
| Population | 1,847 | 109,852 |
The weather behind that power bill
Mercer 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 $194 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
Common questions
How much does it cost to own a home in Mercer?
A $130,000 home in Mercer, Pennsylvania costs approximately $1,235 per month with 20% down at 6.66%. That is $668 principal and interest, $153 property tax, $43 homeowners insurance, $262 utilities and $108 set aside for maintenance.
What is the property tax rate in Mercer?
Mercer has an effective property tax rate of 1.414%, based on a median home value of $130,300 and median real estate taxes of $1,843. That is higher than the Mercer County average of 1.265%.
What is the average home price in Mercer?
The median owner-occupied home value in Mercer, Pennsylvania is $130,300, against $153,600 across Mercer County.
Is it cheaper to rent or buy in Mercer?
Median gross rent in Mercer is $644 a month, against $1,235 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mercer — 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.