1st Advantage MortgageAbout 76% of Mercer County homes are owner-occupied, and the median household income is $64,824. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- A quick profile of Mercer County
- The Mercer County job picture
- What Mercer County households earn
- Mercer County housing compared with Kentucky
- How Mercer County ranks in Kentucky
- Mercer County communities by population
- Nearby counties: income, rent, ownership
- $5,402 a month: the Mercer County median budget
- Local borrowing considerations for Mercer County
- Age, degrees and coverage in Mercer County
- Licensing and complaints for Mercer County
- A Mercer County borrower's checklist
- Nearby and statewide guides
- Frequently asked questions
A quick profile of Mercer County
The latest five-year Census estimate puts Mercer County's population at 23,028; only 50 of Kentucky's 120 county-level areas are larger. Density: about 92.3 residents per square mile across 249 square miles of land. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Harrodsburg (9,313 people) heads the county's list of 3 Census places, 2 incorporated and 1 census-designated.
The Mercer County job picture
By the Census industry count, 21% of employed Mercer County residents work in education and health care and 21% in manufacturing. Relative to Kentucky (14%), manufacturing is 7 points bigger in Mercer County (21%). Unemployment in Mercer County, ACS five-year: 4.4%; Kentucky: 4.9%. 30% of Mercer County workers get to work in under 15 minutes, while 23% need 45 or more.
| Top industries | Mercer County share | +/- vs Kentucky |
|---|---|---|
| Education and health care | 21.3% | -3.0 pts |
| Manufacturing | 20.8% | +6.5 pts |
| Retail trade | 9.5% | -2.0 pts |
| Transportation, warehousing and utilities | 8.0% | +1.0 pts |
| Professional and administrative services | 6.3% | -2.7 pts |
| Finance, insurance and real estate | 6.3% | +0.6 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
What Mercer County households earn
$64,824 is the median household income for Mercer County, set against $63,726 for Kentucky. Only 29 Kentucky counties post a higher median.
| Band | Mercer County | Compared with Kentucky |
|---|---|---|
| Under $35,000 | 22.1% | -5.9 pts |
| $35,000 to $99,999 | 50.6% | +8.7 pts |
| $100,000 to $199,999 | 22.8% | -0.1 pts |
| $200,000 or more | 4.6% | -2.6 pts |
22% under $35,000 and 27% at $100,000 or more: that is the Mercer County income split. The poverty rate is 10.7%, 5 points lower than the state's 16.1%. The Gini index of income inequality is 0.415 (0 is perfect equality). If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Mercer County median.
Mercer County housing compared with Kentucky
$831 a month is the median gross rent in Mercer County, 14% below the state. Cost-burdened renters, paying 30%-plus of income: 37% in Mercer County, 45% statewide. Median value $202,300; median income $64,824; ratio 3.1. Owners occupy 76% of homes. Median construction year: 1978. Against the median U.S. county, Mercer County rent is 5% below.
| Home costs | Mercer County | Kentucky | Compared with Kentucky |
|---|---|---|---|
| Median gross rent | $831/mo | $967/mo | 14% lower |
| Median home value | $202,300 | $205,600 | 2% lower |
| Owners | 76% | 68% | +7.6 pts |
| Rent-burdened renters | 37% | 45% | -8.5 pts |
| Burdened owners | 22% | 23% | -0.4 pts |
Because most Mercer County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
How Mercer County ranks in Kentucky
Where Mercer County lands at the extremes of Kentucky's county rankings:
- On the poverty rate, Mercer County sits near the bottom of Kentucky at 10.7%, 10th lowest of 120. Even here, a fee-first loan offer is a scam.
- The share of workers who work from home: 10.9% in Mercer County. Only 17 of 120 Kentucky counties are higher. Remote workers should have W-2s or contracts ready to show income.
- Mercer County ranks 20th lowest of 120 Kentucky counties for the share of mobile homes: 7.1%, against 10.7% statewide. Few mobile homes means most owners have traditional equity options.
Mercer County communities by population
3 Census places fall mainly inside Mercer County; the 3 biggest are below. They account for 10,542 residents, leaving about 54% of the county in unincorporated, unnamed areas. None of the 3 has its own city guide, so this page covers all of them.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Harrodsburg | city | 9,313 | $48,381 | $790 | 3 mi |
| Burgin | city | 993 | $77,585 | $971 | 8 mi |
| Salvisa | CDP | 236 | $61,250 | n/a | 8 mi |
Nearby counties: income, rent, ownership
Six nearby counties, 13 to 22 miles away by the straight-line distance between their centers. Woodford County leads the group on income ($83,788), Boyle County trails ($61,159), and Mercer County out-earns 3 of the six.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Mercer County | - | $64,824 | $831/mo | 76% |
| Boyle County, KY | 13 mi | $61,159 | $778/mo | 68% |
| Anderson County, KY | 15 mi | $74,488 | $927/mo | 78% |
| Washington County, KY | 17 mi | $61,616 | $744/mo | 78% |
| Jessamine County, KY | 17 mi | $74,576 | $1,124/mo | 67% |
| Woodford County, KY | 17 mi | $83,788 | $1,138/mo | 72% |
| Garrard County, KY | 22 mi | $63,087 | $794/mo | 80% |
$5,402 a month: the Mercer County median budget
The debt-to-income ratio is the main affordability test lenders use. Applied to Mercer County's medians:
- $5,402 a month: gross income for a household at the Mercer County median
- 15% goes to median rent ($831)
- $1,114: what a 36% ratio leaves once rent is paid
A household below the $64,824 median has less room than this, often none.
Local borrowing considerations for Mercer County
- 23% long commutes. A Mercer County repair bill is often urgent; compare the shop's financing with a loan in writing.
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
- Check your file. An error fixed before you apply can change the offers a Mercer County borrower sees (free reports).
Age, degrees and coverage in Mercer County
College graduates make up 25% of the adult population. Health coverage gaps: 5.0% of Mercer County residents are uninsured.
| Mercer County | vs Kentucky | vs U.S. county median | |
|---|---|---|---|
| Poverty rate | 10.7% | -5.4 pts | -2.5 pts |
| Median age | 42.9 | +3.8 yrs | +1.4 yrs |
| No high school diploma | 8.0% | -3.2 pts | n/a |
| Bachelor's or higher | 24.9% | -2.6 pts | +2.7 pts |
| No vehicle | 4.8% | -1.9 pts | -0.6 pts |
| No health insurance | 5.0% | -1.0 pts | -2.8 pts |
| Work from home | 10.9% | +0.7 pts | +2.2 pts |
| Unemployment (ACS) | 4.4% | -0.5 pts | -0.1 pts |
| Minutes to work | Mercer County workers |
|---|---|
| Under 15 min | 30.2% |
| 15 to 29 min | 32.3% |
| 30 to 44 min | 14.4% |
| 45 to 59 min | 14.7% |
| 60+ min | 8.4% |
Licensing and complaints for Mercer County
Licensing happens at the state level, so a lender working with Mercer County borrowers answers to the Kentucky Department of Financial Institutions. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. More on Kentucky: Kentucky personal loans.
A Mercer County borrower's checklist
A short checklist for Mercer County borrowers:
- Price the Mercer County expense first and borrow that amount, no more.
- Compare the total repaid on every offer, not just the payment.
- Confirm the lender is licensed in Kentucky.
- Ask about early-payoff penalties.
Nearby and statewide guides
The Kentucky guide covers the whole state.
Frequently asked questions
Is Mercer County a high-income county?
Its $64,824 median ranks 30th of 120 Kentucky counties and compares with $65,681 for the median U.S. county.
How much is rent in Mercer County?
Median gross rent, utilities included, is $831 a month; 37% of renters spend 30% or more of income on it.
Is home equity cheaper than a personal loan in Mercer County?
Often, because the home secures it. With 76% of Mercer County homes owner-occupied, weigh that lower cost against the risk to the house.
Which towns does the Mercer County guide cover?
Every community in the county, unincorporated areas included. The largest of its 3 Census places: Harrodsburg, Burgin, Salvisa.
Is the fit check different in Mercer County?
No. It is identical everywhere, and it never looks at your neighborhood.