menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Mercer, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mercer, PA Housing Market Trends

With 1,955 people, 881 houses or apartments, and a median cost of homes of $187,074, house prices in Mercer are solidly below the national average.

Single-family detached homes are the single most common housing type in Mercer, accounting for 62.88% of the borough's housing units. Other types of housing that are prevalent in Mercer include large apartment complexes or high rise apartments ( 20.68%), duplexes, homes converted to apartments or other small apartment buildings ( 11.66%), and a few row houses and other attached homes ( 2.55%).

The most prevalent building size and type in Mercer are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 57.43% owning and 42.57% renting.

The housing in Mercer was primarily built before 1939 ( 44.96%), making the housing stock in Mercer some of the oldest overall in America, although there is a range of ages of homes in Mercer. The next most important housing age is between 1970-1999 ( 27.47%), followed by between 1940-1969 ( 21.32%). There's also some housing in Mercer built between 2000 and later ( 6.26%).

Mercer Home Appreciation Rates

Real estate appreciation rates in Mercer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.15% during the period.

NeighborhoodScout's data show that during the latest twelve months, Mercer's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Mercer's appreciation rate has been 0.15%, which annualizes to a rate of 0.61%.

Relative to Pennsylvania, our data show that Mercer's latest annual appreciation rate is higher than 50% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$187,074

Mercer, PA Home Prices
> $1,351,000
$1,013,001 - $1,351,000
$675,001 - $1,013,000
$541,001 - $675,000
$406,001 - $541,000
$271,001 - $406,000
$135,001 - $271,000
$68,001 - $135,000
$0 - $68,000
0.0%
0.0%
1.3%
1.3%
0.2%
0.2%
4.8%
4.8%
2.5%
2.5%
15.2%
15.2%
43.3%
43.3%
27.4%
27.4%
5.3%
5.3%
0% 100.0%
% of Homes
Low

for Pennsylvania

Low

for nation

Number of Homes And Apartments:

881

Mercer Appreciation Rates

Rent & Ownership

Average Market Rent:

$902 / per month

Homeownership Rate

Owners
Renters
57.4%
57.4%
42.6%
42.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.6%
6.6%
93.4%
93.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.3%
6.3%
27.5%
27.5%
21.3%
21.3%
45.0%
45.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.9%
62.9%
2.5%
2.5%
11.7%
11.7%
20.7%
20.7%
2.2%
2.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.8%
5.8%
12.4%
12.4%
21.6%
21.6%
40.5%
40.5%
14.3%
14.3%
5.3%
5.3%
0% 100.0%
% of Homes