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 a population of 1,955, 881 total housing units (homes and apartments), and a median house value of $167,410, 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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mercer during the period has been just 4.93%, which is lower than 80% of US communities.
Over the last year, Mercer appreciation rates have trailed the rest of the nation. In the last twelve months, Mercer's appreciation rate has been -4.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mercer were at -2.11%, which equates to an annual appreciation rate of -8.18%.
Notably, Mercer's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Mercer's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.
$167,410
for Pennsylvania
for nation
881
$932 / per month