Mercer County, Illinois: What It Costs to Buy a Home
The median home in Mercer County is worth $139,300, property taxes on it run about $2,710 a year (1.95%), the FHA loan limit is $541,287, and closing on it means about $140 in transfer tax plus $2,570 in title insurance. Each number below opens its own page with the source and a calculator.
| Median home value | $139,300 | Title insurance at this price → |
|---|---|---|
| Property taxes (median paid) | $2,710 a year, 1.95% of value | Property tax page → |
| FHA loan limit (1 unit) | $541,287 | Loan limits page → |
| Conforming loan limit (1 unit) | $832,750 | Loan limits page → |
| Transfer tax on the median home | $140 | Illinois transfer tax page → |
| Title insurance on the median home | $1,995 owner's + $575 lender's | Title insurance page → |
| Closing costs from these items | $2,710 | Closing costs page → |
| Area median income (HUD, family of 4) | $97,500; low-income limit $78,000 | Income limits page → |
Frequently asked questions
How much do homes cost in Mercer County?
The median owner-occupied home in Mercer County is valued at $139,300, per U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units).
How much are property taxes in Mercer County?
The median Mercer County homeowner pays $2,710 a year in real estate taxes, about 1.95% of the median home value ($2,995 for homes with a mortgage), per the Census Bureau's American Community Survey.
What is the FHA loan limit in Mercer County?
$541,287 for a one-unit home in 2026 (the national floor), per HUD; the conforming limit for Fannie Mae and Freddie Mac loans is $832,750, per FHFA.
What does it cost to close on a home in Mercer County?
On the $139,300 median home: transfer tax $140, title insurance $2,570 for both policies, about $2,710 for those items before lender fees, prepaid taxes and insurance.
What is the area median income in Mercer County?
HUD's FY 2026 median family income for Mercer County (Davenport-Moline-Rock Island, IA-IL MSA) is $97,500. A family of four counts as low income below $78,000 under HUD's 80% tier (adjusted for local housing costs, so it can sit above 80% of the median), which is the line many first-time buyer assistance programs use.
Nearby Illinois counties
- McHenry County $286,900
- McLean County $198,300
- Menard County $179,300
- Monroe County $265,600
- Montgomery County $102,200
- Morgan County $128,700
Sources
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units)
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25103 (median real estate taxes paid)
- HUD, FHA forward mortgage loan limits for calendar year 2026 (CHUMS county limits file, Mortgagee Letter 2025-23)
- FHFA, conforming loan limits for mortgages acquired in calendar year 2026, by county
Figures are computed from the documents above and rounded to the dollar. All sources.
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General information, not financial, tax or legal advice. Figures are medians and schedule computations, not quotes.
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