Total monthly cost of ownership
Cost to Own a Home in Mercer, Pennsylvania
A $130,000 home here costs
$1,260per 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 $54,000 a year.
A standard mortgage calculator would have told you $709. The real number is $551 higher every month, 78% more than the payment most buyers budget for.
Compare Mercer County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Mercer from a five-year rolling sample, and with about 1,847 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Mercer County figures are drawn from a far larger sample if you want a steadier number.
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 $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 Mercer 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 Mercer every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Mercer I already own here and may sell
Common questions
How much does it cost to own a home in Mercer?
A $130,000 home in Mercer, Pennsylvania costs approximately $1,260 per month with 20% down at 7.24%. That is $709 principal and interest, $153 property tax, $43 homeowners insurance, $246 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 $1,260 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 Mercer?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Mercer, Pennsylvania at today's rate takes a household income of roughly $54,000 a year. That covers the full $1,260 monthly cost, not just the mortgage payment.
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.