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These days, finding an affordable place to live in the Mercer Island area can be challenging. Home prices in Mercer Island are now at a median cost of $1,786,619, higher than the Washington average of $621,115.
The average cost of rent is $3,033/mo in Mercer Island, primarily driven by the current value of real estate in the Mercer Island area. In Mercer Island, 32.94% of households rent, and 41.89% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Mercer Island is $17,725 per month. Households that rent pay about 17.11% of their income on rent here. Mercer Island’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Beaux Arts Village, WA: higher priced homes
- Newcastle, WA: less expensive homes
- Bellevue, WA: less expensive homes
- Medina, WA: higher priced homes
- Clyde Hill, WA: higher priced homes
- Bryn Mawr-Skyway, WA: less expensive homes
- Hunts Point, WA: higher priced homes
- Yarrow Point, WA: higher priced homes
- Boulevard Park, WA: less expensive homes
- Seattle, WA: less expensive homes
Cities with Similar Populations
- Allendale, MI: less expensive homes
- Yorkville, IL: less expensive homes
- Yelm, WA: less expensive homes
- West Hempstead, NY: less expensive homes
- Wayne, PA: less expensive homes
- Waukee, IA: less expensive homes
- Watertown, WI: less expensive homes
- Wallingford, CT: less expensive homes
- Wakefield, MA: less expensive homes
- Waianae, HI: less expensive homes
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