Housing decision brief
Mercer County, NJ Housing Market
Mercer County screens as a below-state purchase price, below-state rent, a higher tax-rate signal market. Use the page as a decision brief, not just a price lookup, because local income, taxes, and data confidence change how affordable the county really is.
9th lowest home value out of 21 New Jersey counties with data | 10th lowest rent out of 21
Median home value
$351,000
Purchase-price signal from Census ACS.
Median rent
$1,515/mo
Gross rent, including utilities where reported.
Monthly owner cost
$1,984/mo
Owner costs before individual loan terms.
Decision snapshot
Read this county in four signals.
Buy screen
3.6x
Median home value divided by local household income.
Rent burden
30.0%
At or above the 30% burden threshold.
Rent vs own
$469/mo
Median rent screens below owner cost.
Data confidence
1 note
Crime coverage is partial, so safety comparisons need source context.
What Works
Lower purchase price
$351,000 median home value is 11% below New Jersey county median
Lower rent
$1,515/mo is 2% below New Jersey county median
What to Check
Lower income base
$96,333 median income is 3% below New Jersey county median
Tax rate needs attention
2.51% effective property-tax rate is 14% above New Jersey county median
Crime data coverage
Crime data coverage is partial. Treat zero or low crime rates as incomplete until you check the source coverage.
Best Fit For
- Remote earners or cash buyers looking below the state price line
Poor Fit For
- Households dependent on a deep local wage market
- Buyers focused only on purchase price and ignoring annual property tax
- Anyone treating reported crime rates as complete without source context
County vs State vs National
The county number only matters after you see the benchmark. These comparisons show where Mercer County is genuinely cheap, where it is average, and where the hidden cost may be.
| Metric | County | State | U.S. | Signal |
|---|---|---|---|---|
Median home value Lower usually helps affordability. | $351,000 | $395,000 | $281,900 | 11% favorable11% below New Jersey county median |
Median gross rent Lower usually helps affordability. | $1,515 | $1,553 | $1,163 | Near state median2% below New Jersey county median |
Monthly owner cost Lower usually helps affordability. | $1,984 | $2,006 | $1,672 | Near state median1% below New Jersey county median |
Median household income | $96,333 | $99,596 | $74,755 | Near state median3% below New Jersey county median |
Effective property-tax rate Lower usually helps affordability. | 2.51% | 2.20% | 1.02% | 14% pressure14% above New Jersey county median |
Rent burden Lower usually helps affordability. | 30.00% | 30.00% | N/A | Near state median30.00% of renter income goes to rent. |
Income Fit
A low price only helps if local income can carry the monthly cost. This panel compares the county income base with rent and owner-cost thresholds.
Rent cushion
+$35,733
Median income minus rent threshold.
Owner cushion
+$11,304
Median income minus owner-cost threshold.
Affordability Advisory
This turns the raw housing numbers into income and buy-versus-rent screens.
Affordability verdict
For renters in Mercer County, the market is affordable. Expect to pay around $1,515/month in gross rent, with 30.0% of renter households considered cost-burdened.
Rent vs own
The median rent in Mercer County is $1,515/month, while owner costs run $1,984/month. Renting saves approximately $469/month.
Income needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $60,600/year. For owner costs at the 28% rule, the required income is roughly $85,029/year. With a median household income of $96,333, most households can comfortably afford rent here. Notably, 30.0% of renter households in Mercer County are cost-burdened, spending more than 30% of income on housing.
Regional context
Within New Jersey, Mercer County is more affordable than Essex County by roughly 4% ($1,515/mo vs $1,459/mo).
Better Counties to Compare
Similar counties are matched on home value, rent, income, and state context. This is more useful than a simple nearest-price list.
| County | Home Value | Rent | Why compare |
|---|---|---|---|
| Sussex County, NJ | $342,800 | $1,503/mo | Same-state comparison near $342,800 home value and $1,503/mo rent. |
| Warren County, NJ | $323,100 | $1,368/mo | Same-state comparison near $323,100 home value and $1,368/mo rent. |
| Burlington County, NJ | $326,700 | $1,669/mo | Same-state comparison near $326,700 home value and $1,669/mo rent. |
| Ocean County, NJ | $366,600 | $1,702/mo | Same-state comparison near $366,600 home value and $1,702/mo rent. |
| Gloucester County, NJ | $283,500 | $1,480/mo | Same-state comparison near $283,500 home value and $1,480/mo rent. |
Data Confidence
- Crime coverage is partial, so safety comparisons need source context.
Next Checks
Housing Questions for Mercer County
Is Mercer County affordable for buying a home?
Is renting or owning cheaper in Mercer County?
How much income do you need for housing in Mercer County?
What should I double-check before moving to Mercer County?
Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.