Cost of Living in Mercer County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Mercer County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Mercer County ranks #580 of 3,144 counties for affordability (top 18%)
Data Story
About Cost of Living in Mercer County, Kentucky
Mercer County: solid affordability choice
Mercer County's rent-to-income ratio of 15.3% beats both Kentucky's state average of 17.0% and sits well within the affordable range. With a median household income of $63,115 and monthly rent at $802, Mercer offers balanced housing costs compared to national trends.
Top-tier Kentucky affordability
Mercer County ranks among Kentucky's more affordable counties with a 15.3% rent-to-income ratio, outperforming the state average of 17.0%. This places Mercer in the upper tier for housing value across the commonwealth.
Mercer competes well regionally
Mercer County's 15.3% rent-to-income ratio edges out Montgomery County's 16.6% and Morgan County's 16.9%, though it trails McLean's exceptional 10.2%. At $802 monthly rent, Mercer sits between the region's cheapest and most expensive options.
Housing costs: rent vs. ownership
Renters in Mercer spend $802 monthly (15.3% of income), while homeowners carry an $848 monthly cost with a median home value of $189,700. Both rental and ownership pathways remain accessible on the $63,115 median household income.
Mercer County balances cost and value
Mercer offers solid housing affordability above the state average, with reasonable home values ($189,700) and competitive rents. It's a smart choice for relocators seeking a balance between cost, property values, and regional stability.
Cost of Living Advisory: Mercer County
Affordability Verdict
For renters in Mercer County, the market is affordable. Expect to pay around $802/month in gross rent, with 23.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Mercer County pay $802/month on average, compared to $848/month for homeowners. This market favors renters by about 5%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,080/year. For owner costs at the 28% rule, the required income is roughly $36,343/year. With a median household income of $63,115, most households can comfortably afford rent here. Notably, 23.0% of renter households in Mercer County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Carroll County where rent averages $853/month, Mercer County is approximately 6% less expensive.
Affordability Calculator
See how your income compares to housing costs in Mercer County
Rent Burden
15.2%
of gross income
Max Housing (28% Rule)
$1,473
per month
Owner Cost Burden
16.1%
of gross income
The median home in Mercer County may be a stretch
Median home value is $189,700. Estimated monthly cost: $1,514 vs. your max of $1,473.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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