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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Mercersburg, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mercersburg, PA Housing Market Trends

With 1,495 people, 846 houses or apartments, and a median cost of homes of $332,607, Mercersburg real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mercersburg, accounting for 57.93% of the borough's housing units. Other types of housing that are prevalent in Mercersburg include duplexes, homes converted to apartments or other small apartment buildings ( 16.96%), row houses and other attached homes ( 12.72%), and a few large apartment complexes or high rise apartments ( 11.52%).

The most prevalent building size and type in Mercersburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 56.33% owning and 43.67% renting.

The housing in Mercersburg was primarily built before 1939 ( 45.43%), making the housing stock in Mercersburg some of the oldest overall in America, although there is a range of ages of homes in Mercersburg. The next most important housing age is between 1940-1969 ( 23.91%), followed by between 1970-1999 ( 21.20%). There's also some housing in Mercersburg built between 2000 and later ( 9.46%).

Mercersburg Home Appreciation Rates

Real estate appreciation rates in Mercersburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.24% during the period.

Appreciation rates are so strong in Mercersburg that despite a nationwide downturn in the housing market, Mercersburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mercersburg appreciation rates continue to be some of the highest in America, at 11.77%, which is higher than appreciation rates in 93.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mercersburg. Mercersburg appreciation rates in the latest quarter were at 6.55%, which equates to an annual appreciation rate of 28.91%.

Importantly, this makes Mercersburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Mercersburg's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$332,607

Mercersburg, PA Home Prices
> $1,476,000
$1,107,001 - $1,476,000
$738,001 - $1,107,000
$590,001 - $738,000
$443,001 - $590,000
$295,001 - $443,000
$147,001 - $295,000
$74,001 - $147,000
$0 - $74,000
4.0%
4.0%
0.0%
0.0%
4.6%
4.6%
1.9%
1.9%
10.2%
10.2%
37.2%
37.2%
34.4%
34.4%
4.4%
4.4%
3.3%
3.3%
0% 100.0%
% of Homes
High

for Pennsylvania

High

for nation

Number of Homes And Apartments:

846

Mercersburg Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,602 / per month

Homeownership Rate

Owners
Renters
56.3%
56.3%
43.7%
43.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.0%
8.0%
92.0%
92.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.5%
9.5%
21.2%
21.2%
23.9%
23.9%
45.4%
45.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.9%
57.9%
12.7%
12.7%
17.0%
17.0%
11.5%
11.5%
0.9%
0.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
13.5%
13.5%
24.0%
24.0%
32.5%
32.5%
24.5%
24.5%
3.0%
3.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Mercersburg

Zip Codes in Mercersburg, PA