Mercer County Real Estate and Livability Trends
Mercer County, Pennsylvania has experienced a visible rise in average taxable income, jumping from $47,331.16 in 2013 to $61,607.18 in 2021, hinting at economic growth or wage increases. Median home values have also climbed from $107,900 in 2015 to $146,100 in 2022, but still sit below state and national averages. Real estate taxes surged from $2,750.23 in 2012 to $4,244.86 in 2021, likely... Read more
Mercer County Market Trends
Mercer County, Pennsylvania's real estate market shows solid growth with median home values rising from $107,900 in 2015 to $146,100 in 2022, though still lagging behind state and national medians. Real estate taxes have seen a significant rise, from $2,750.23 in 2012 to $4,244.86 in 2021, indicating higher ongoing costs but also likely reflecting increased property values. Mortgage counts for... Read more
Median Value of Occupied Housing Units in Mercer County, Pennsylvania Over the Last 8 Years
The median home values in Mercer County, Pennsylvania, have seen steady gains over the past eight years, increasing from $107,900 in 2015 to $146,100 in 2022. This is relatively modest compared to Pennsylvania's median, which went from $166,000 to $226,200 in the same period, and the national median, which spiked from $125,500 to $179,400. For those looking to invest in or move to Mercer County, this indicates a growing but still affordable market compared to broader state and national trends.
Residential Energy Tax Credit Per Tax Return in Mercer County, PA Over the Last 9 Years
In Mercer County, Pennsylvania, the average residential energy tax credit per tax return has shown significant fluctuation over the past nine years. Notably, there was a sharp increase in 2018, spiking to $1,760.00 per return, which is well above the prior and subsequent years. For investors, real estate agents, and those considering building or insuring property, this suggests that interest in energy-efficient home improvements might be on the rise, potentially correlating with market demand for green real estate. The values returned to lower, albeit still elevated, levels in subsequent years, indicating sustained, though potentially stabilizing, investments in energy efficiency.
Average Real Estate Taxes Per Tax Return in Mercer County, PA Over the Last 10 Years
Over the last decade, Mercer County, Pennsylvania has seen a notable rise in average real estate taxes per tax return, jumping from $2,750.23 in 2012 to $4,244.86 in 2021. The spike in 2018, reaching $4,275.51, likely reflects changes in property values or tax rates. This upward trend is crucial for those looking to invest or move to the area, as it could signal increasing property values but also higher ongoing costs. Those in real estate, appraisal, and insurance need to factor these rising taxes into their considerations for future clients and property evaluations.
Percentage of Farm Returns in Mercer County, PA Over the Last 10 Years
The percentage of farm tax returns in Mercer County, Pennsylvania has generally hovered around 1.8% over the last decade, showing slight fluctuations but no drastic changes. The highest percentage was seen in 2013 at approximately 1.90%, while there was a noticeable dip in 2019, where it dropped to about 1.71%. Farm tax returns are metrics indicating the proportion of income tax returns filed that report farm income, reflecting the agricultural activity and its economic importance in the area. For investors or potential residents, stable farm return percentages suggest a consistent agricultural presence, which can impact property values and community investment opportunities.
Number of Mortgages by Occupancy Type in Mercer County, PA Over the Last 5 Years in Mercer County
Over the last five years in Mercer County, Pennsylvania, mortgage counts have shown notable variations, especially in the "Principal Residence" category, peaking at 5,249 in 2021 before dropping to 3,869 in 2022. Meanwhile, "Investment Property" and "Second Residence" mortgages have remained relatively stable. These fluctuations in occupancy type can potentially influence property values, insurance costs, and investment viability—key factors for potential investors, homebuyers, and real estate professionals. A sharp increase in principal residences may signal a strong residential demand but could also lead to higher property taxes and insurance premiums. Conversely, stable numbers for investment properties might suggest steady rental market conditions without dramatic shifts in investor interest.
Economic Outlook
Mercer County, Pennsylvania has shown a significant rise in average taxable income per tax return, increasing from $47,331.16 in 2013 to $61,607.18 in 2021. This could indicate economic growth or rising wages, providing encouraging signs for investors and real estate professionals. Additionally, state and local income taxes have nearly doubled over the past decade, suggesting either improved earnings or changes in tax policies. The average total tax liability also shows upward momentum as of... Read more
Average Taxable Income per Tax Return in Mercer County, PA over the last 9 years
There's been a notable upward trend in the average taxable income per tax return in Mercer County, Pennsylvania over the last nine years. Starting at approximately $47,331.16 in 2013, the average climbed steadily, culminating in an impressive $61,607.18 by 2021. This increase may point towards economic growth or rising wages, signaling potentially lucrative opportunities for investors, builders, and real estate professionals. Knowing these figures can be crucial for appraisal and insurance assessments, offering a snapshot of the county's financial health and earning potential.
Average State and Local Income Taxes Per Tax Return in Mercer County, PA Over the Last 10 Years
Mercer County, Pennsylvania has seen a significant rise in average state and local income taxes per tax return over the past decade. Starting at around $5,470.71 in 2012, this figure has nearly doubled to over $11,476.24 by 2021. A sharp increase is noted between 2017 and 2018, where taxes surged from $6,191.19 to $8,844.06, continuing to climb steadily every year after. This trend could be indicative of economic growth, rising incomes, or changes in local tax policies, making it crucial for potential investors, real estate agents, and those considering moving to the area to weigh these rising costs against the benefits of living in or investing in Mercer County.
Average Total Tax Liability Per Tax Return in Mercer County, PA Over the Last 10 Years
Over the past decade in Mercer County, Pennsylvania, the average total tax liability per tax return exhibited some fluctuations but has recently trended upward. Despite a dip between 2012 and 2014, the tax liability demonstrated steady growth from 2017 onward, peaking at $9,109.78 in 2021. This potential increase in tax burden might interest investors, real estate agents, and insurance professionals, signaling evolving economic conditions and fiscal policies that could impact property values, insurance premiums, and overall cost of living.
Cost of Living in Mercer County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,105 | $1,472 | $1,347 | $2,095 | $1,230 |
| 1 adult 4 children | $1,105 | $1,202 | $1,033 | $2,095 | $1,364 |
| 2 adults 3 children | $1,105 | $1,202 | $1,168 | $2,095 | $1,036 |
| 1 adult 3 children | $1,105 | $982 | $853 | $2,095 | $1,149 |
| 2 adults 2 children | $821 | $984 | $988 | $1,819 | $877 |
| 1 adult 2 children | $821 | $735 | $674 | $1,819 | $845 |
| 2 adults 1 child | $821 | $778 | $808 | $922 | $730 |
| 1 adult 1 child | $821 | $502 | $494 | $922 | $627 |
| 2 adults | $638 | $625 | $628 | $0 | $544 |
| 1 adult | $634 | $341 | $314 | $0 | $476 |
Safety trends & Data
Mercer County, Pennsylvania has seen notable ups and downs in property crime over the last five years, with significant decreases in larceny-theft from 508.00 cases in 2018 to 36.00 in 2021, before climbing back to 214.00 in 2022. Burglary incidents also fell from 62.00 in 2018 to 10.00 in 2021, then rose slightly to 30.00 in 2022. Vandalism has generally declined, though fraud remains a consistent issue. These crime trends could impact risk assessments and property values for investors,... Read more
Property Crime Trends in Mercer County, PA Over the Last 5 Years
Mercer County, Pennsylvania has experienced notable fluctuations in property crime over the last five years. Larceny-Theft has remained the most prominent, though it saw a substantial decrease from 508.00 cases in 2018 to a low of 36.00 in 2021, before rising again to 214.00 in 2022. Burglary incidents also dropped significantly from 62.00 in 2018 to 10.00 in 2021, then slightly rebounded to 30.00 in 2022. Vandalism cases, while variable, have shown a decline overall. Fraud has consistently posed a challenge, with minor variation year-on-year. For investors, appraisers, insurers, and real estate professionals, these crime trends could be critical in assessing risk and property value dynamics in the area.
Demographics
Mercer County, Pennsylvania, shows a close gender balance with slightly more females than males in its adult population. Educational attainment data indicates that a significant portion of the population has completed at least high school, with a noticeable number achieving higher education degrees. Age distribution suggests a mature population with a considerable number of residents aged 55 and older. The racial makeup is predominantly White, with small but present Black or African American... Read more
Race Distribution in Mercer County, Pennsylvania (2022)
Educational Attainment in Mercer County, Pennsylvania (2022)
Age Distribution in Mercer County, Pennsylvania
Citizen Population in Mercer County, Pennsylvania (2022)
Political Trends & Data
Mercer County, Pennsylvania potentially leans heavily Republican, as seen in the 2020 U.S. Presidential Election where about 62% of votes were for the Republican candidate, compared to around 36% for the Democratic candidate. Third-party candidates, including Libertarians, barely made a dent, collectively accumulating just over 1% of the vote. This political landscape might influence local policies and economic priorities, impacting everything from property taxes to local business... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Mercer County, Pennsylvania, the 2020 U.S. Presidential Election results potentially indicated a strong Republican preference, with approximately 62% of votes going to the Republican candidate. The Democratic candidate might have garnered around 36% of the vote, while third-party candidates, including Libertarians, seemed to have had minimal impact, accumulating just over 1% combined. These voting trends could reflect the political inclinations of the county's electorate.
62.36% of voters voted for the Republican party in the 2020 Presidential Election
36.35% of voters voted for the Democrat party in the 2020 Presidential Election
1.28% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
In Mercer County, Pennsylvania, the student-to-teacher ratio has dropped from 14 students per teacher in 2014 to roughly 11 in 2023, now below the national average of 14. This trend may highlight a commitment to education quality, appealing to families and investors eyeing the area. For appraisers and insurance agents, it hints at a stable or growing population invested in local schools, which could influence property values and community... Read more
Student-to-teacher ratio in Mercer County, Pennsylvania over the last 10 years
In Mercer County, Pennsylvania, the student-to-teacher ratio has gradually decreased over the past decade, from 14 students per teacher in 2014 to approximately 11 in 2023. This shift places Mercer County below the current national average of 14 students per teacher, which may indicate smaller class sizes and potentially more individualized attention in classrooms. This trend could be particularly appealing for families considering moving to the area or investors looking to develop properties, as it suggests a focus on education quality. For appraisers and insurance agents, this decreasing ratio might signal a stable or growing population willing to invest in local schools, potentially impacting property values and community investments.
