Mercer County, Illinois Housing Market
In Mercer County, Illinois, the median home value is $146,700, with a median monthly rent of $786. This places Mercer County at #2287 nationally out of 3134 counties by median home value, and #41 within Illinois.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $832
- Establishments: 250
- BLS QCEW, 2025
Housing Supply
- Single-family: 18
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,687 (avg $78,132)
- Outflow: 6,425 (avg $79,742)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 5 active ZIP codes in Mercer County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 61231 | 182.8 | +6.10% | 2025 |
| 2 | 61281 | 241.0 | +51.71% | 2024 |
| 3 | 61264 | 204.6 | -2.89% | 2025 |
| 4 | 61486 | 169.7 | — | 2024 |
| 5 | 61259 | 233.3 | — | 2023 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Mercer County Compares
| Metric | Mercer County | Illinois Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $146,700 | $153,019 | $227,706 |
| Median Gross Rent | $786 | $867 | $968 |
| Owner Occupancy Rate | 83.8% | 75.8% | 73.3% |
| Price/Rent Ratio | 15.6 | 14.5 | 18.7 |
Market Analysis
The median home value in Mercer County is 4.1% below the Illinois state average and 35.6% below the U.S. national average. The median rent of $786/month is 9.3% below the state average.
With a price-to-rent ratio of 15.6, the buy-vs-rent decision in Mercer County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Mercer County has an owner-occupancy rate of 83.8%, compared to 75.8% in Illinois and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Texas County | Missouri | $146,700 | $665 |
| Parmer County | Texas | $146,700 | $1,081 |
| Dickinson County | Kansas | $146,800 | $901 |
| Bent County | Colorado | $146,900 | $1,162 |
| Wheeler County | Nebraska | $146,500 | $509 |
Other Counties in Illinois
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Bond County | $145,700 | $785 | 76.6% |
| Pope County | $143,800 | $449 | 86.3% |
| Brown County | $150,300 | $698 | 71.8% |
| Rock Island County | $150,400 | $889 | 69.7% |
| Douglas County | $150,400 | $848 | 76.9% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).