Quick facts: Hermitage, PA

Quick Facts

101.5
Cost of Living
above US average
16,220
Population
8.38
Crime Rate per 1000
below US average
$56,500
Median Income
below US average
$219,000
Median House Price
above US average
$5933.5
Average Rent
above US average
10%
Poverty Rate
below US average
5.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $56,500.

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Income Needed to Buy

βœ— Stretch
$69k/year
Based on $219,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $69k vs median $56,500
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Income Needed to Rent

⚠ Stretch
$254k/year
Based on $5933.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $254k vs median $56,500
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hermitage, PA

Hermitage is a city located in Mercer County, Pennsylvania, known for its community-oriented atmosphere and scenic landscapes. It is part of the Greater Pittsburgh area and has a population of approximately 16,000 residents. The city is characterized by suburban living with plenty of green spaces, parks, and recreational facilities. Hermitage offers a variety of shopping options, restaurants, and local businesses, making it a convenient place to live. One of the notable attractions in Hermitage is the Shenango River Lake, which provides opportunities for fishing, boating, and hiking. The city is also home to several community events throughout the year, promoting local culture and engagement. Educational opportunities in Hermitage are supported by several public schools in the Hermitage School District, as well as nearby higher education institutions. The city maintains a friendly, small-town feel while being close to larger urban amenities, making it a desirable location for families and individuals alike.

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