Quick facts: Mercer, PA

Quick Facts

101.5
Cost of Living
above US average
109,220
Population
0.92
Crime Rate per 1000
below US average
$57,353
Median Income
below US average
$259,000
Median House Price
above US average
$812.5
Average Rent
below US average
10%
Poverty Rate
below US average
4.2%
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 $57,353.

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Income Needed to Buy

βœ— Stretch
$81k/year
Based on $259,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $81k vs median $57,353
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Income Needed to Rent

βœ“ Affordable
$35k/year
Based on $812.5/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($57,353) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mercer, PA

Mercer, Pennsylvania, is a quaint borough located in Mercer County in the western part of the state. Known for its small-town charm, it serves as the county seat and has a population of just over 1,000 residents. The town’s picturesque Main Street features a range of local shops, restaurants, and historical buildings that reflect its rich heritage. Mercer boasts several parks and recreational areas, making it an ideal spot for outdoor enthusiasts. One of the highlights is the nearby Maurice K. Goddard State Park, which offers hiking, fishing, and picnicking options. The local community is close-knit and engages in various events throughout the year, including festivals and parades that emphasize its strong sense of community. Culturally, Mercer is home to several historical sites and museums, including the Mercer County Historical Society. The town’s proximity to larger cities like Sharon and Hermitage provides residents access to additional amenities, while retaining the tranquility of rural life. Overall, Mercer offers a unique blend of history, nature, and community spirit.

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