1st Advantage MortgageMercer County households have a median income of $62,679 and median rent of $590 a month (ACS 2020 to 2024). Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Missouri before sharing details.
On this page
- A quick profile of Mercer County
- Household income in Mercer County
- Mercer County housing compared with Missouri
- Jobs and commutes in Mercer County
- Towns and communities in Mercer County
- Neighboring counties at a glance
- Mercer County households compared
- Local borrowing considerations for Mercer County
- A Mercer County household budget, worked through
- Checklist for Mercer County applicants
- Checking a lender's license in Missouri
- Nearby and statewide guides
- Frequently asked questions
A quick profile of Mercer County
With an estimated 3,482 residents (ACS 2020 to 2024), Mercer County ranks 114th of 115 in Missouri for population. It covers 454 square miles of land, or about 8 people per square mile. Under the July 2023 OMB definitions, Mercer County is not part of any metropolitan area. Princeton is the biggest of its 4 Census places, at roughly 1,352 people (39% of the county total). Small populations mean wide margins of error, so read every Mercer County figure on this page as a rough guide.
Household income in Mercer County
Half of Mercer County households take in less than $62,679 a year and half take in more, 11% below the Missouri median of $70,702. That places it 45th among Missouri's 115 county-level areas.
| Band | Mercer County | Compared with Missouri |
|---|---|---|
| Under $35,000 | 30.3% | +6.7 pts |
| $35,000 to $99,999 | 47.5% | +5.1 pts |
| $100,000 to $199,999 | 19.9% | -5.4 pts |
| $200,000 or more | 2.2% | -6.5 pts |
The spread is wide: 22% of Mercer County households make $100,000 or more, and 30% make less than $35,000. Census counts 13.5% of Mercer County residents in poverty, against 12.6% across Missouri. 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 Missouri
A typical Mercer County rental runs $590 a month including utilities, which is 43% below Missouri. Rent takes 30% or more of income for 29% of renter households here. The median owner-occupied home is valued at $104,900, about 1.7 times the median household income. 81% of Mercer County households own their home and 19% rent. The median home was built in 1970, so roofs, wiring and heating systems are a common source of repair bills.
| Cost | Mercer County | Missouri figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $590/mo | $1,033/mo | $877/mo |
| Median home value | $104,900 | $230,300 | $185,300 |
| Owners | 81% | 68% | 75% |
| Rent-burdened renters | 29% | 46% | 45% |
| Burdened owners | 28% | 22% | n/a |
| Mobile homes | 6.4% | 5.2% | n/a |
| Vacant units | 32% | 11% | n/a |
In an owner-heavy county like Mercer County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
Jobs and commutes in Mercer County
Education and health care employs 26% of working residents, the largest share; manufacturing is next with 20%. The sharpest difference from the state is in agriculture, forestry and mining, at 13% locally and 2% for Missouri. ACS puts five-year average unemployment at 3.5% in Mercer County. Long commutes are the exception here: 14% of workers spend 45 minutes or longer getting to work.
| Where residents work | Mercer County | Difference from Missouri |
|---|---|---|
| Education and health care | 25.7% | +1.3 pts |
| Manufacturing | 20.0% | +8.8 pts |
| Agriculture, forestry and mining | 13.3% | +11.6 pts |
| Retail trade | 12.6% | +1.3 pts |
| Construction | 6.5% | -0.3 pts |
| Arts, lodging and food service | 5.3% | -2.7 pts |
Shorter commutes usually mean lower vehicle costs, which can leave more room for a payment, or for paying a loan off early.
Towns and communities in Mercer County
Here are the 4 most populous of the county's 4 Census places, with income and rent from the same 2020 to 2024 survey. About 51% of Mercer County residents live in one of the 4. No Mercer County place has a separate guide yet; this county page serves all 4.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Princeton | city | 1,352 | $58,558 | $547 | 2 mi |
| Mercer | town | 325 | $39,028 | $570 | 6 mi |
| Ravanna | CDP | 68 | $21,563 | n/a | 6 mi |
| South Lineville | town | 16 | $66,042 | n/a | 11 mi |
Neighboring counties at a glance
The six counties whose centers lie closest to Mercer County's, from 21 to 29 miles away. Putnam County leads the group on income ($63,510), Grundy County trails ($51,975), and Mercer County out-earns 5 of the six. Some neighbors are in Iowa. Lender licensing is state by state, so a loan for a Mercer County resident follows Missouri rules.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Mercer County | - | $62,679 | $590/mo | 81% |
| Grundy County, MO | 21 mi | $51,975 | $696/mo | 70% |
| Harrison County, MO | 23 mi | $54,367 | $703/mo | 71% |
| Decatur County, IA | 25 mi | $59,044 | $611/mo | 70% |
| Wayne County, IA | 25 mi | $61,964 | $659/mo | 81% |
| Sullivan County, MO | 28 mi | $56,964 | $673/mo | 75% |
| Putnam County, MO | 29 mi | $63,510 | $521/mo | 83% |
Mercer County households compared
18% of Mercer County adults 25 and older hold a bachelor's degree or more. The uninsured rate is 9.2%, against 8.8% for Missouri.
| Residents | Mercer County | Missouri | Middle U.S. county |
|---|---|---|---|
| Median age | 42.4 | 39.0 | 41.5 |
| Bachelor's or higher | 18.1% | 32.4% | 22.2% |
| No high school diploma | 9.2% | 8.1% | n/a |
| No health insurance | 9.2% | 8.8% | 7.8% |
| No vehicle | 5.6% | 6.6% | 5.4% |
| Work from home | 13.2% | 13.0% | 8.7% |
| Poverty rate | 13.5% | 12.6% | 13.2% |
| Unemployment (ACS) | 3.5% | 4.0% | 4.4% |
| Commute length | Mercer County |
|---|---|
| Under 15 min | 36.7% |
| 15 to 29 min | 28.5% |
| 30 to 44 min | 20.9% |
| 45 to 59 min | 5.6% |
| 60+ min | 8.4% |
Local borrowing considerations for Mercer County
Where the Mercer County numbers stand out, and why it matters for a loan:
- Consolidating cards in Mercer County. Compare the total repaid, not the monthly figure (how).
- Getting ready. Gather pay stubs or benefit letters before you apply (checklist).
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
A Mercer County household budget, worked through
Mercer County at the medians, through a lender's eyes (what DTI means):
- Monthly gross at the median, Mercer County: $5,223
- Housing at the median rent of $590 uses 11%
- $1,499: what a 40% ratio leaves once rent is paid
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Mercer County's.
Checklist for Mercer County applicants
A short checklist for Mercer County borrowers:
- Write down what the expense costs; a smaller loan costs less.
- Prequalify with soft pulls where offered, then compare in writing.
- Verify the Missouri license before giving out your Social Security number.
- Pick the shortest term whose payment still fits.
Checking a lender's license in Missouri
Mercer County borrowers fall under statewide rules, enforced by the Missouri Division of Finance. A CFPB complaint gets forwarded to the company for a response. More on Missouri: Missouri personal loans.
Nearby and statewide guides
For statewide rules and data, see the Missouri guide.
Frequently asked questions
What is the median household income in Mercer County?
$62,679 a year in the 2020 to 2024 Census survey, versus $70,702 for Missouri. It ranks 45th of 115 in the state.
How much is rent in Mercer County?
Median gross rent, utilities included, is $590 a month; 29% of renters spend 30% or more of income on it.
Should Mercer County homeowners use home equity instead?
Maybe, but weigh the risk: 81% of Mercer County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
Does this page cover Princeton?
Yes, along with the other 3 Census places in Mercer County, such as Mercer, Ravanna, South Lineville.
Does living in Mercer County change what I qualify for?
Not in our fit check, which uses only the amount, credit range, income and payments you enter, the same for a Mercer County resident as anyone. Lenders decide under fair-lending law.