Mercer County, New Jersey Housing Market
In Mercer County, New Jersey, the median home value is $377,700, with a median monthly rent of $1,623. This places Mercer County at #345 nationally out of 3134 counties by median home value, and #13 within New Jersey.
📈 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: $1,867
- Establishments: 11,480
- BLS QCEW, 2025
Housing Supply
- Single-family: 805
- Multi-family: 359
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 152,716 (avg $126,790)
- Outflow: 150,909 (avg $126,715)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Mercer County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 08611 | 329.3 | -7.31% | 2025 |
| 2 | 08629 | 360.0 | +13.99% | 2025 |
| 3 | 08609 | 397.6 | +5.04% | 2025 |
| 4 | 08512 | 283.2 | +14.78% | 2025 |
| 5 | 08618 | 278.9 | +4.09% | 2025 |
| 6 | 08550 | 273.6 | +5.52% | 2025 |
| 7 | 08691 | 301.2 | +6.37% | 2025 |
| 8 | 08619 | 281.4 | +7.12% | 2025 |
| 9 | 08628 | 267.4 | +11.14% | 2025 |
| 10 | 08648 | 274.5 | +7.05% | 2025 |
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.
🔗 Explore Mercer County on Our Sister Sites
Get the complete picture for Mercer County — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Mercer County Compares
| Metric | Mercer County | New Jersey Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $377,700 | $430,014 | $227,706 |
| Median Gross Rent | $1,623 | $1,634 | $968 |
| Owner Occupancy Rate | 62.2% | 68.3% | 73.3% |
| Price/Rent Ratio | 19.4 | 21.6 | 18.7 |
Market Analysis
The median home value in Mercer County is 12.2% below the New Jersey state average and 65.9% above the U.S. national average. The median rent of $1,623/month is 0.7% below the state average.
With a price-to-rent ratio of 19.4, 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 62.2%, compared to 68.3% in New Jersey and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| St. Croix County | Wisconsin | $377,700 | $1,271 |
| Chesapeake city | Virginia | $378,400 | $1,586 |
| Mesa County | Colorado | $378,600 | $1,182 |
| Currituck County | North Carolina | $378,800 | $1,162 |
| Adams County | Idaho | $376,500 | $830 |
Other Counties in New Jersey
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Sussex County | $369,400 | $1,585 | 83.7% |
| Ocean County | $398,400 | $1,755 | 80.7% |
| Burlington County | $354,000 | $1,745 | 76.1% |
| Warren County | $346,500 | $1,409 | 75.1% |
| Cape May County | $434,600 | $1,360 | 80.3% |
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).