Mercer County Real Estate and Livability Trends
Mercer County, New Jersey has experienced a surge in median home values from $295,400 in 2021 to $327,600 in 2022, suggesting strong demand despite rising property taxes, which increased from $9,185.25 in 2012 to $13,007.18 in 2021. The area’s economic health could be underscored by the jump in average taxable income, growing from $86,767.66 in 2013 to $117,355.62 by 2021, drawing interest from... Read more
Mercer County Market Trends
Mercer County, New Jersey's median home values have climbed notably from $295,400 in 2021 to $327,600 in 2022, outpacing the national trend and reflecting robust local demand. Residential energy tax credits per tax return peaked significantly in 2018 at $3,041.07, indicating periods of heightened incentives for energy-efficient home improvements. Average real estate taxes per tax return have... Read more
Median Value of Occupied Housing Units in Mercer County, New Jersey Over the Last 8 Years
Mercer County, New Jersey, has experienced a steady rise in median home values over the past eight years, with a noteworthy jump from $295,400 in 2021 to $327,600 in 2022. This increase is quite significant when compared to New Jersey's overall trend, where median home values escalated from $355,700 in 2021 to $401,400 in 2022. Furthermore, Mercer County's homes have been consistently higher in value compared to the national median, which only reached $179,400 by 2022. For potential investors and residents, this underscores a thriving real estate market in Mercer County, suggesting strong local demand and stability in property investments.
Residential Energy Tax Credit Per Tax Return in Mercer County, NJ Over the Last 9 Years
Mercer County, New Jersey has seen significant fluctuations in residential energy tax credits per tax return over the past nine years. Notably, between 2013 and 2016, there was a steady increase from around $471.55 to approximately $742.63. A sharp rise to $1,142.50 occurred in 2017, followed by a peak in 2018 at $3,041.07. There was a subsequent decline, leveling off around $1,672.97 by 2021. This variability could suggest evolving incentives for energy-efficient home improvements, potential policy changes, or shifts in homeowner engagement with energy tax credits. Investors, home developers, and real estate agents might find this data useful for assessing trends in energy efficiency investments and their potential appeal to prospective buyers.
Average Real Estate Taxes Per Tax Return in Mercer County, NJ Over the Last 10 Years
Mercer County, New Jersey has experienced a notable upward trend in average real estate taxes per tax return over the last decade. Starting at $9,185.25 in 2012, it gradually climbed to $13,007.18 by 2021. This sharp increase might reflect escalating property values and possibly higher governmental levies in the area. For potential investors, property developers, and anyone considering a move, it's essential to be mindful of these rising taxes, as they could impact the overall cost of property ownership. Higher real estate taxes can influence property valuations and potentially affect the stability of the housing market in Mercer County.
Percentage of Farm Returns in Mercer County, NJ Over the Last 10 Years
Mercer County, New Jersey, has witnessed a gradual decline in the percentage of farm tax returns over the past decade, starting from approximately 0.179% in 2012 to about 0.136% in 2021. Although small, this consistent decrease suggests a shift away from agricultural activities or a reduction in the number of farm operators filing returns. Farm tax returns reflect the earnings and economic health of the farming community; less participation can signal consolidation of farming enterprises or changing land use patterns. This trend could be particularly relevant for investors, developers, and potential residents looking to understand the evolving landscape and economic activities in Mercer County.
Number of Mortgages by Occupancy Type in Mercer County, NJ Over the Last 5 Years in Mercer County
Over the past five years in Mercer County, New Jersey, there's been noticeable fluctuation in the number of mortgages for different occupancy types. Principal Residences consistently dominate the mortgage market, though 2022 saw a significant decline from the previous years. Investment Properties have also experienced a downtrend since 2021, possibly reflecting shifts in the county's real estate investment appeal or broader economic factors. The relatively low numbers for Second Residences suggest limited demand or preference for such properties. For potential investors, understanding these trends can offer valuable insights into market stability and future opportunities, while appraisers and insurance agents may need to adjust their evaluations and coverage strategies accordingly.
Economic Outlook
Mercer County, New Jersey boasts a notable rise in average taxable income per tax return, escalating from $86,767.66 in 2013 to $117,355.62 by 2021. This signals affluence and may make the area attractive to investors and developers. A parallel trend is observed in state and local income taxes, which soared from $11,414.63 in 2012 to $26,748.80 in 2021, peaking sharply in 2018. The average total tax liability hints at economic growth, rising to $24,331.74 in 2021 from $19,219.39 in 2012.... Read more
Average Taxable Income per Tax Return in Mercer County, NJ over the last 9 years
Mercer County, New Jersey has seen a robust climb in the average taxable income per tax return over the last nine years. Starting from $86,767.66 in 2013, the income steadily rose, reaching over $117,355.62 by 2021. This upward trend suggests an increasingly affluent demographic, making it an appealing area for investors, real estate developers, and those looking to relocate. Home appraisals and property valuations are likely impacted, reflecting the growing wealth, while insurance agents might encounter higher coverage amounts due to the larger declared incomes. This financial growth can also signal potential challenges related to cost of living and economic disparities within the county.
Average State and Local Income Taxes Per Tax Return in Mercer County, NJ Over the Last 10 Years
In Mercer County, New Jersey, there has been a noticeable upward trend in state and local income taxes per tax return over the last decade. The figures indicate a significant rise from $11,414.63 in 2012 to $26,748.80 in 2021. Particularly striking is the sharp increase in 2018, where taxes jumped to $19,895.27 from $12,991.49 the previous year, suggesting substantial changes in either tax rates or the overall income levels contributing to these taxes. This trend could be important for potential investors, property developers, and anyone considering moving to the area, as it might reflect broader economic conditions or fiscal policies impacting the county.
Average Total Tax Liability Per Tax Return in Mercer County, NJ Over the Last 10 Years
Mercer County, New Jersey has seen noticeable fluctuations in the average total tax liability per tax return over the past decade, with 2021 peaking at $24,331.74 compared to $19,219.39 in 2012. The liability generally increased with a few dips, reflecting possible changes in property values, average incomes, or tax policies. This trend may influence potential investors and real estate professionals to consider the economic factors affecting tax liabilities, making it a crucial factor for anyone planning to invest, move to, or evaluate property in the area.
Cost of Living in Mercer County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,108 | $1,653 | $1,790 | $2,140 | $1,965 |
| 1 adult 4 children | $2,108 | $1,350 | $1,359 | $2,140 | $2,072 |
| 2 adults 3 children | $2,108 | $1,350 | $1,558 | $2,140 | $1,695 |
| 1 adult 3 children | $2,108 | $1,102 | $1,127 | $2,140 | $1,816 |
| 2 adults 2 children | $1,732 | $1,105 | $1,326 | $1,921 | $1,360 |
| 1 adult 2 children | $1,732 | $826 | $895 | $1,921 | $1,390 |
| 2 adults 1 child | $1,732 | $874 | $1,094 | $1,209 | $1,112 |
| 1 adult 1 child | $1,732 | $564 | $663 | $1,209 | $1,062 |
| 2 adults | $1,321 | $702 | $862 | $0 | $761 |
| 1 adult | $1,158 | $383 | $431 | $0 | $639 |
Safety trends & Data
Mercer County, New Jersey has seen fluctuating property crime trends over the last five years. Burglary incidents have decreased from 168.00 in 2018 to 101.00 in 2022, while larceny-theft dramatically fell to a low of 323.00 in 2021 before rising to 691.00 in 2022. Motor vehicle thefts show a slight upward trend, peaking at 37.00 in 2020. Cases of fraud peaked at 144.00 in 2018 but dropped significantly to 51.00 in 2022. Arson cases, although minor, hit a high of 14.00 in 2022. These crime... Read more
Property Crime Trends in Mercer County, NJ Over the Last 5 Years
Mercer County, New Jersey has experienced fluctuating trends in property crime over the past five years. While incidents of burglary have generally declined from 168.00 in 2018 to 101.00 in 2022, larceny-theft saw a significant drop from 692.00 in 2018 to its lowest in 2021 at 323.00 before rising again to 691.00 in 2022. Motor vehicle thefts appear to have a slight uptrend, hitting a high of 37.00 in 2020. Fraud and embezzlement, though not dominant, show volatility with fraud peaking at 144.00 in 2018 but dropping to 51.00 in 2022. Consistent yet minor fluctuations are observed in arson cases, peaking at 14.00 in 2022. These trends could inform decisions in investment, development, and security measures for stakeholders in the property and real estate sectors in Mercer County.
Demographics
Mercer County, New Jersey presents a near parity in gender distribution among adults with females slightly outnumbering males. Educational attainment is diverse, with a substantial portion holding a bachelor's or more advanced degrees. Age-wise, the population seems to skew towards older adults, with considerable numbers in the 35 to 64 year bracket. Racial demographics show a predominantly White population with significant Black or African American and Asian communities. These trends can... Read more
Race Distribution in Mercer County, New Jersey (2022)
Educational Attainment in Mercer County, New Jersey (2022)
Age Distribution in Mercer County, New Jersey
Citizen Population in Mercer County, New Jersey (2022)
Political Trends & Data
Mercer County, New Jersey, may generally lean Democratic as evidenced by its 2020 U.S. Presidential Election results, where around 69.00% of votes were for the Democratic candidate versus about 29.00% for the Republican candidate. This significant split hints at a potentially solid Democratic base. Third-party candidates received minimal support, under 1.50% collectively, suggesting a strong preference for the two major parties among voters in this... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Mercer County, New Jersey, might tend to lean Democratic based on its 2020 U.S. Presidential Election results, with approximately 69% of the votes going to the Democratic candidate. This is compared to about 29% for the Republican candidate, reflecting a significant discrepancy that may suggest a solid Democratic base. Third parties, including Libertarian and Green, seem to have garnered minimal support, collectively under 1.5%, potentially indicating limited influence or voter adherence to the two major parties in this region.
29.24% of voters voted for the Republican party in the 2020 Presidential Election
69.38% of voters voted for the Democrat party in the 2020 Presidential Election
0.81% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Green party in the 2020 Presidential Election
0.25% of voters voted for the Other party in the 2020 Presidential Election
School Data
Mercer County, New Jersey has consistently maintained a student-to-teacher ratio between 11 and 12 over the past decade, which is below the national average of 14. This trend may suggest smaller class sizes, potentially correlating with higher property values and boosting community satisfaction. For real estate professionals, appraisers, and investors, understanding this dynamic is key as it could drive demand and influence market trends, particularly among families prioritizing... Read more
Student-to-teacher ratio in Mercer County, New Jersey over the last 10 years
Mercer County, New Jersey has maintained a relatively stable student-to-teacher ratio over the past decade, hovering between 11 and 12 students per teacher. This is notably lower than the national average of 14, potentially indicating smaller class sizes and possibly more individualized attention for students. For potential investors or those considering moving to the area, this could suggest a strong educational environment, which often correlates with higher property values and community satisfaction. For appraisers, insurance agents, and real estate professionals, such trends are crucial as they often drive demand and influence market dynamics. Moreover, smaller class sizes may appeal to families prioritizing education, impacting demographic shifts and local economic conditions.
