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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,495 people, 846 houses or apartments, and a median cost of homes of $292,425, Mercersburg real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Mercersburg, accounting for 57.93% of the borough's housing units. Other types of housing that are prevalent in Mercersburg include duplexes, homes converted to apartments or other small apartment buildings ( 16.96%), row houses and other attached homes ( 12.72%), and a few large apartment complexes or high rise apartments ( 11.52%).
The most prevalent building size and type in Mercersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 56.33% owning and 43.67% renting.
The housing in Mercersburg was primarily built before 1939 ( 45.43%), making the housing stock in Mercersburg some of the oldest overall in America, although there is a range of ages of homes in Mercersburg. The next most important housing age is between 1940-1969 ( 23.91%), followed by between 1970-1999 ( 21.20%). There's also some housing in Mercersburg built between 2000 and later ( 9.46%).
Mercersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mercersburg during the period has been just 5.21%, which is lower than 70% of US communities.
Over the last year, Mercersburg appreciation rates have trailed the rest of the nation. In the last twelve months, Mercersburg's appreciation rate has been 1.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mercersburg were at 2.24%, which equates to an annual appreciation rate of 9.27%.
Importantly, this makes Mercersburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Mercersburg's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.
$292,425
for Pennsylvania
for nation
846
$1,521 / per month