Market Overview
Home Prices in Mercer, PA
The median home value in Mercer, PA is $248,950 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.6% compared to a year ago and down 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mercer are priced39% below average. Mercer is part of the Youngstown-Warren-Boardman, OH-PA metro area.
Over the past five years, Mercer home values have fallen by approximately0.9%, reflecting softening conditions in this market.
Price History
Mercer Home Price Trend
City Comparison
Mercer vs. National Median
At $248,950, homes in Mercer cost 39% below the national median of $410,000. This makes Mercer a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Mercer?
20% Down Payment
$49,790
on $248,950
Monthly P&I
$1,298/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,648/mo
incl. taxes & insurance
Income Needed
$65,920
gross annual (30% rule)
10% Down Option
$24,895
+ PMI applies
Loan Amount (20% dn)
$199,160
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Mercer, PA?
The median home value in Mercer is $248,950 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.6% year-over-year.
How much have home prices changed in Mercer?
Over the past year, home values in Mercer have increased by 0.6%. Over five years, prices have fallen approximately 0.9%.
How much do I need to earn to buy a home in Mercer?
To comfortably afford the median home price of $248,950 with a 20% down payment ($49,790) at today's rates (6.8%), you'd need a gross annual income of approximately $65,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Mercer compare to the national average home price?
The national median home value is approximately $410,000. At $248,950, homes in Mercer are 39% below the national average.
What metro area is Mercer part of?
Mercer is part of the Youngstown-Warren-Boardman, OH-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.