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📍 Mercer, TN · Zillow ZHVI · July 2026

Average Home Price in
Mercer, TN

Jackson, TN metro area · Madison County County

Median Home Value
$206,373
↑ 6.8% year-over-year
vs. National Median
$410,000
Mercer is 50% below
Est. Monthly Payment
$1,076/mo
20% down · 6.8% rate
Income Needed
$55K
gross annual (30% rule)
Median Home Value
$206,373
↑ 6.8% year-over-year
Down Payment (20%)$41,275
Monthly P&I$1,076/mo
With Taxes & Ins.~$1,367/mo
Income Needed$54,680/yr
Data SourceZillow ZHVI
Market Overview

Home Prices in Mercer, TN

The median home value in Mercer, TN is $206,373 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.8% compared to a year ago and down 1.9% from two years prior.

Compared to the U.S. national median of $410,000, homes in Mercer are priced50% below average. Mercer is part of the Jackson, TN metro area.

City Comparison

Mercer vs. National Median

🏠 Mercer
$206,373
National Median
$410,000

At $206,373, homes in Mercer cost 50% 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
$41,275
on $206,373
Monthly P&I
$1,076/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,367/mo
incl. taxes & insurance
Income Needed
$54,680
gross annual (30% rule)
10% Down Option
$20,637
+ PMI applies
Loan Amount (20% dn)
$165,098
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, TN?
The median home value in Mercer is $206,373 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.8% year-over-year.
How much have home prices changed in Mercer?
Over the past year, home values in Mercer have increased by 6.8%.
How much do I need to earn to buy a home in Mercer?
To comfortably afford the median home price of $206,373 with a 20% down payment ($41,275) at today's rates (6.8%), you'd need a gross annual income of approximately $54,680. 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 $206,373, homes in Mercer are 50% below the national average.
What metro area is Mercer part of?
Mercer is part of the Jackson, TN metropolitan area. Home prices and market conditions can vary across the broader metro region.