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County in New Jersey

Mercer County, New Jersey

Mercer County, in New Jersey, has 385,864 residents: No. 12 of 21 by population. Mercer County has an FHA limit of $541,287 for one-unit homes. The typical home value here is $377,700. HUD's Fair Market Rent for a 2-bedroom apartment is $2,242 a month; to pay it without spending more than 30% of your income, you need to earn about $43.12 an hour.

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  • Typical home price

    $377,700

    −17% vs. New Jersey +14% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • Mercer
    • New Jersey
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

  • Fair market rent, 2 bedrooms

    $2,242 a month

    −1% vs. New Jersey +28% vs. U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • Mercer
    • New Jersey
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $541,287

    FHA national floor limit

    The most you can borrow with an FHA loan for a one-unit home here.

    • Mercer
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    2.36% of value per year

    +12% vs. New Jersey +151% vs. U.S.

    $8,909 a year for the typical owner

    • Mercer
    • New Jersey
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$439,984
about the same as 12 months ago
Typical rent
$2,523 a month
2.4% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Data from October 2026

In short

What is housing like in Mercer County today?

The monthly payment on a typical home with FHA would be about $3,580, that is, 43% of the typical household income in Mercer County. For that payment to be 28% of income, a household would need to earn about $153,410 a year; the typical income here is $100,645. Homes here are worth 17% less than the average across New Jersey.

Renting is a stretch: 50% of renters put 30% or more of their income toward housing. There are 2 agencies with HUD-approved housing counselors who speak Spanish near here.

Sources: U.S. Census Bureau (Average 2020–2024); HUD (Retrieved November 6, 2026).

Only here

What sets Mercer County apart

  1. Mercer County has the lowest typical rent in its area: $1,623, less than any of its 6 neighboring counties; next is Hunterdon County ($1,687).

  2. According to Zillow, in the 12 months to September 2026 the typical home value in Mercer County barely changed; in New Jersey, it rose 4%.

  3. From 2020 to 2025, home prices in Mercer County rose 68% on FHFA's index, faster than in New Jersey (63%).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data); FHFA (2025 data). Zillow data

The homes here

Housing in Mercer County

What homes there are in Mercer County, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes in Mercer County are varied: detached houses are the largest group, at 48%, against 53% in New Jersey.

Year built

By age, homes in Mercer County look like those in New Jersey: the typical year built is 1969.

In Mercer County, 59% of homes have 3 bedrooms or more, about the same as in New Jersey.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for this county is $541,287, and about 71% of owner-occupied homes in Mercer County are worth less than that.

Monthly rent with utilities

By rent, most homes in Mercer County cost less than HUD's 2-bedroom fair market rent ($2,242): about 79%.

With a mortgage

$2,615 a month

New Jersey: $2,829 a month

Without a mortgage

$1,136 a month

New Jersey: $1,232 a month

Owners with a mortgage

62%

New Jersey: 64%

In Mercer County, 62% of owners have a mortgage, and their typical cost is $2,615 a month, against $2,829 in New Jersey. Without one it drops to $1,136.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Mercer County rose 30%; in New Jersey, it rose 35%.

The typical rent in Mercer County rose 28% since 2015–2019, about the same as in New Jersey (29%).

The typical household income in Mercer County rose 24%: less than home values (+30%) and rent (+28%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMercer CountyNew JerseyUnited States
Rental vacancy 2.9%3.5%5.5%
Homeowner vacancy 0.4%0.7%0.9%
More than one person per room 3.7%4.0%3.4%
People per household 2.562.622.53
Drive alone 60%62%69%
Carpool 9%8%9%
Public transit 5%8%3%
Walk or bike 4%3%3%
Work from home 20%17%15%
Other means 3%2%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes

Open rentals in Mercer County look like those in New Jersey: the rental vacancy rate is 2.9%.

More than one person per room: that is how 3.7% of households in Mercer County live, near the figure in New Jersey (4.0%).

By size, households in Mercer County look like those in New Jersey: 2.56 people on average.

To get to work, 60% of workers in Mercer County drive alone; in New Jersey, 62%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month in Mercer County?

A typical home costs more than the typical income allows

We start with a typical home of $377,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 43% of the typical household income here, which is $100,645 a year. For that payment to be 28% of income, a household would need to earn about $153,410 a year.

Your numbers

Local data
$

Starts at the typical home value in Mercer County. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $13,220 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,580

at 7.18% · 30 years

Loan amount
$370,858
Total interest
$533,578
Paid off in
November 2056

Includes $6,378 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,348 a month

  • Tight

    $2,348 to $3,019 a month

  • Hard

    more than $3,019 a month

    Your payment · 43%

Compared with the typical household income in Mercer County ($100,645 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,580
Principal & interest$2,512
Property tax$743
Home insurance$157
FHA mortgage insurance (MIP)$167

You need at least $13,220 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

Buying a home

Buying a home in Mercer County

Here you'll see how prices have changed, how Mercer County compares with New Jersey and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

According to the FHFA House Price Index, home prices in Mercer County rose 87% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.

Period Here New Jersey United States
In 2025 +5.7% +6.2% +2.9%
5 years (2020–2025) +68% +63% +47%
10 years (2015–2025) +87% +88% +85%
See each year's change

The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Mercer County compared with New Jersey and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • Mercer $377,700
  • New Jersey $454,400
  • United States $332,700
Typical rent a month
  • Mercer $1,623
  • New Jersey $1,720
  • United States $1,413
Typical household income a year
  • Mercer $100,645
  • New Jersey $103,556
  • United States $80,734
See the full table
Mercer compared with New Jersey and the United States
MeasureHereNew JerseyU.S.
Residents385,8649,343,809334,922,499
Typical home value$377,700$454,400$332,700
Typical household income$100,645$103,556$80,734
Typical rent$1,623$1,720$1,413
Fair Market Rent (2 bedrooms)$2,242$2,268$1,750
Hourly wage to rent a 2-bedroom$43.12$43.62$33.65
Typical property tax$8,909$9,590$3,119
Effective tax rate2.36%2.11%0.94%
Households that own their home62%64%65%
Renters spending 30% or more on rent50%52%51%
FHA limit (1 unit)*$541,287$1,249,125$541,287

FHA limit: New Jersey shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in Mercer County

For a typical $377,700 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $3,580 $13,220 $370,859 7.18% FHA MIP · $167 $24,551 580
Conventional, 5% down $3,510 $18,885 $358,815 7.18% PMI · $179 $30,216 620*
Conventional, 20% down, no PMI $2,947 $75,540 $302,160 7.18% None $86,871 620*
ITIN, 15% down (example) $3,296 $56,655 $321,045 8.18% None $67,986 Set by the lender
  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

Everything about buying in Mercer County: income, limits and help How much house can I afford? Closing costs

Loan limits

FHA loans in Mercer County use the national floor limit: it isn't a high-cost area. If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $541,287 $832,750
2 units $693,050 $1,066,250
3 units $837,700 $1,288,800
4 units $1,041,125 $1,601,750

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in Mercer County

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In Mercer County, the typical owner pays $8,909 a year: about 2.36% of the home's value. That is more than the rest of New Jersey and more than the national average.

  • Mercer 2.36%
  • New Jersey 2.11%
  • United States 0.94%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Is there a flood risk?

According to FEMA, in Mercer County 1.7% of homes (1,826) are in a high-risk flood zone. Of those homes, 42% have NFIP flood insurance.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)

Source: FEMA, As of August 3, 2026

Look up your address on FEMA’s map

Owning a home here

Owning a home in Mercer County

The natural hazards FEMA measures in Mercer County, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

In Mercer County, FEMA rates the natural hazard risk as relatively high.

To rate it, FEMA weighs the expected loss with social vulnerability and community resilience.

In Mercer County, FEMA expects natural hazards to cause $176 million in losses a year, counting buildings, people and crops.

The hazard that would do the most damage to homes and buildings here is inland flooding: about $108 million a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. Inland floodingRelatively high $108 million a year
  2. HurricaneRelatively high $17.4 million a year
  3. EarthquakeRelatively moderate $7.4 million a year
  4. TornadoRelatively moderate $1.9 million a year
  5. Coastal floodingRelatively low $326,656 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

The home energy code (IECC) puts Mercer County in zone 5A: cold.

The zone's number says how hot or cold it gets; the letter says how humid: A is moist, B is dry and C is marine.

  • Spring

    • Book the air conditioner's check-up before the heat: ENERGY STAR advises checking the cooling system in the spring, because contractors get busy once summer comes. ENERGY STAR (EPA)
    • Clean and repair the roof gutters. EPA

  • Summer

    • Seal the air ducts that run through the attic, crawlspace, basement or garage with duct mastic or foil tape, then wrap them in insulation. ENERGY STAR (EPA)
    • Check that the ground slopes away from the house, so water does not collect around the foundation. EPA

  • Fall

    • Book the heating check-up in the fall. If it runs on gas or oil, the technician should check the connections: faulty ones are a fire hazard. ENERGY STAR (EPA)
    • Seal air leaks and add insulation in the attic: ENERGY STAR says it lowers the chance of ice dams on the roof in snowy climates. ENERGY STAR (EPA)

  • Winter

    • Get the house ready for the cold with insulation, caulking and weather stripping, and learn how to keep pipes from freezing. Ready.gov (FEMA)
    • Put clear plastic film over the windows: it is inexpensive, cuts drafts, helps the house feel warmer in winter and reduces moisture on the glass. ENERGY STAR (EPA)

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

Each task comes from the official page beside it. The spring air-conditioning and fall heating check-ups are the timing ENERGY STAR advises; the rest is a suggested order.

Climate zones by county, 2021 IECC

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$47.21$23.33 and $60.42
Plumbers, pipefitters and steamfitters$36.71$24.25 and $61.20
Heating, air conditioning and refrigeration mechanics$36.17$22.95 and $53.71
Roofers$39.47$21.75 and $46.39
Carpenters$31.58$21.49 and $58.43
Painters, construction and maintenance$28.66$20.85 and $45.95
Maintenance and repair workers, general$25.93$18.12 and $38.50

An electrician earns about $47.21 an hour in the Trenton-Princeton, NJ area, and a plumber, about $36.71.

These are workers' hourly wages, not the price of a job.

Need help paying for a repair?

Renting

Renting in Mercer County

The typical rent in Mercer County is $1,623 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

50% of renter households in Mercer County spend 30% or more of their income on housing. 26% spend half or more.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $1,561 $30.02 $62,440
1 bedroom $1,764 $33.92 $70,560
2 bedrooms $2,242 $43.12 $89,680
3 bedrooms $2,741 $52.71 $109,640
4 bedrooms $3,081 $59.25 $123,240

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help in Mercer County

Programs and counseling in Mercer County

There are 2 HUD-approved housing counseling agencies in Mercer County. They can help you get ready to buy, with your credit, with rent, or if you've fallen behind on payments.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

A man and two girls read a book together on the sofa.

HUD counseling is free or low-cost

New Jersey down payment programs

  1. NJHMFA Down Payment Assistance Program

    NJHMFA second loan with no interest, forgiven after five years, for first-time buyers in New Jersey

    First-time buyers only. Run by New Jersey Housing and Mortgage Finance Agency (NJHMFA).

    Forgivable Verified November 5, 2026

  2. NJHMFA First Generation Down Payment Assistance Program

    Extra NJHMFA assistance for first-time buyers whose parents have never owned a home (or who were in foster care in New Jersey)

    First-time buyers only. Run by New Jersey Housing and Mortgage Finance Agency (NJHMFA).

    Forgivable Verified November 5, 2026

Which programs do I qualify for? See all New Jersey programs

Help in Spanish in Mercer County

1 of the 2 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Public housing agencies

They run public housing and Section 8 vouchers (Housing Choice Vouchers) in this county.

Free legal help

If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.

Find legal aid (lsc.gov)

Housing counseling nearby

These agencies have an office in Mercer County. The full list is on the New Jersey counselors page. Official HUD list. Confirm hours and fees with the agency before you go.

  • Isles, Incorporated

    10 Wood St, Trenton · Spanish

    Also serves in Cantonese.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 2 more
    (609) 341-4700

  • Housing & Community Development Network of New Jersey

    145 West Hanover Street, Trenton

    (917) 974-5922
See every agency in New Jersey

Places

Cities in Mercer County

Each city has its own page with prices, rents and help. These are the largest.

See all 8 cities of Mercer County

Nearby counties

Each row compares its typical value, typical rent and FHA limit with Mercer County.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in Mercer County in 2026?

Mercer County has an FHA limit of $541,287 for a one-unit home. For 2 units it's $693,050, for 3 it's $837,700 and for 4 it's $1,041,125. It's the national floor limit.

What is the conforming loan limit in Mercer County?

Mercer County has a conforming limit of $832,750 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in Mercer County?

The typical home value in Mercer County is $377,700 (Average 2020–2024, U.S. Census). Across New Jersey it's $454,400.

How much does it cost to rent in Mercer County?

Mercer County has a typical rent of $1,623 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $2,242 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in Mercer County?

About $43.12 an hour working full time (2,080 hours a year), or $89,680 a year, so the fair market rent of $2,242 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).