Mercer County, Kentucky: commercial real estate data.
Mercer County, Kentucky has a population of 23,028 across 249 square miles, up 3.9 percent since the 2020 census base. County output reached $1.15 bn in 2024, 359 establishments operate here, and the SBA record carries 15 7(a) approvals worth $5.6 m.
117 sourced county values · tier FULL · 11 sections
Mercer County
How many people live in Mercer County
- Population23,028
- Households9,181
- Average household size2.51
- Median household income$64,824
- Median age42.9
- Median gross rent$831 per month
- Median owner-occupied home value$202,300
- Home value to household income3.1 times
- Annual rent as a share of median income15.4 percent
- Adults 25 and over with a bachelor degree or higher24.9 percent
- Adults 25 and over with a graduate degree9.2 percent
- Adults 25 and over16,065
- Population under 185,017
- Share under 1821.8 percent
- Population 65 and over4,363
- Share 65 and over18.9 percent
- Working age population, 18 to 6413,648
- Civilian labor force10,887
- Unemployment rate4.4 percent
- Labor force participation, adults 18 and over60.4 percent
- Rank by population among Kentucky counties51st of 120
- Rank by population among US county-equivalents1731st
Mercer County is the 51st largest of 120 Kentucky counties by population. A median home costs 3.1 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 21.8 percent against 18.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Mercer County
Is Mercer County growing
- Population change since the 2020 census base3.86 percent
- Census 2020 base population22,640
- Births, 2024272
- Deaths, 2024369
- Natural change, 2024-97
- Net domestic migration, 2024370
- Net international migration, 202453
- Total net migration, 2024423
- Cumulative net domestic migration, 2021 to 20241,110
- Rank by growth among US county-equivalents710th
The county has grown 3.86 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Mercer County
Where people moving to Mercer County come from
- Tax returns filed by households arriving682
- People arriving, from those returns1,268
- Adjusted gross income arriving$40.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$58,793
- Largest single originMercer County Non-migrants (8,140 households)
- Largest single destination (8,140 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Mercer County Non-migrants | 8,140 | 17,012 | $510.4 m |
| Other flows - Different State | 169 | 326 | $13.9 m |
| Other flows - Same State | 142 | 257 | $7.3 m |
| Boyle County | 96 | 194 | $4.5 m |
| Fayette County | 94 | 162 | $5.1 m |
| Other flows - South | 84 | 150 | $6.9 m |
| Other flows - West | 53 | 116 | $4.2 m |
| Jessamine County | 47 | 84 | $3.0 m |
The largest single source of arrivals is Mercer County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Mercer County
What the Mercer County economy runs on
- County GDP, 2024$1.15 bn
- County GDP, 2023$1.09 bn
- GDP change, 2023 to 20244.8 percent
- GDP change over five years43.7 percent
- Rank by GDP among Kentucky counties45th
- Rank by GDP among US county-equivalents1731st
- GDP per resident$49,751
Output grew 4.8 percent in the latest year and 43.7 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Mercer County
Who employs people in Mercer County
- Covered employment, annual average6,560
- Establishments reporting586
- Average annual pay$59,248
- Average weekly wage$1,139
- Sector 31-33, employment1,982
- Sector 31-33, average annual pay$84,961
- Sector 62, employment799
- Sector 62, average annual pay$42,212
- Sector 44-45, employment668
- Sector 44-45, average annual pay$37,895
- Sector 72, employment482
- Sector 72, average annual pay$20,680
- Sector 56, employment448
- Sector 23, employment341
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 1,982 | 32 | $84,961 |
| Sector 62 | 799 | 72 | $42,212 |
| Sector 44-45 | 668 | 58 | $37,895 |
| Sector 72 | 482 | 43 | $20,680 |
| Sector 56 | 448 | 24 | $79,057 |
| Sector 23 | 341 | 58 | $65,387 |
| Sector 71 | 227 | 7 | $32,420 |
| Sector 48-49 | 147 | 16 | $54,886 |
The largest sector is the biggest private employer group at 1,982 jobs, 30.2 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Mercer County
What businesses operate in Mercer County
- Establishments, all industries359
- Employment at those establishments5,351
- Annual payroll$288.4 m
- Establishments per 1,000 residents15.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Mercer County
What is being built in Mercer County
- Housing units authorised by permit, 2024148
- Declared construction value permitted$28.7 m
- Single family units authorised91
- Multifamily units authorised57
- Multifamily share of units38.5 percent
- Average declared value per unit$194,107
- Units authorised per 1,000 households16.1
Multifamily is 38.5 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Mercer County
How much SBA lending happens in Mercer County
- 7(a) approvals recorded15
- 7(a) gross approval dollars$5.6 m
- Average 7(a) approval$374,493
- Median 7(a) approval$186,900
- 10th percentile approval$30,000
- 90th percentile approval$1,060,000
- Largest single approval$1,968,000
- Jobs reported supported, 7(a)144
- Jobs per approval9.6
- Distinct 7(a) lenders active10
- Distinct industries receiving approvals12
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer20.0 percent
- Loans on real estate terms3
- Loans on working capital terms, 120 months or shorter11
- Franchise loans3
- Franchise share of approvals20.0 percent
- Leading industry by approval countFull-Service Restaurants (3)
- Most active lenderCommunity Trust Bank, Inc. (4)
- 504 approvals recorded1
- 504 gross approval dollars$823,000
- Average 504 approval$823,000
- Median 504 approval$823,000
- Distinct CDCs active1
- 504 jobs per approval0.0
- 504 jobs per million dollars approved0.0
- Most active CDCCommunity Ventures Corporation (1)
- 7(a) share of SBA approvals93.8 percent
- Combined SBA approval dollars$6.4 m
The average approval of $374,493 sits well above the median of $186,900, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 20.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Mercer County
Do SBA loans in Mercer County get paid back
- Loans with a final outcome recorded5
- Paid in full4
- Charged off1
- Status: Paid in full4
- Status: Exempt from disclosure9
- Status: Charged off1
- Status: Cancelled1
Too few loans have reached a final outcome to publish a charge off rate. only 5 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Mercer County
Which parts of Mercer County get the lending
- Places in the county with recorded lending2
- HARRODSBURG, approvals11
- SALVISA, approvals4
| Place | Approvals | Gross approval dollars |
|---|---|---|
| HARRODSBURG | 11 | $4,227,200 |
| SALVISA | 4 | $1,390,200 |
HARRODSBURG accounts for 11 approvals against 4 in SALVISA. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Mercer County
How big is Mercer County
- Land area249 sq mi
- Rank by land area among Kentucky counties85th of 120
- Width, east to west18.7 mi
- Height, north to south20.1 mi
- Geographies sharing a boundary6
- Residents per square mile of land92
- Establishments per square mile1.44
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Mercer County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Mercer County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population23,028
- Households9,181
- Average household size2.51
- Median household income$64,824
- Median age42.9
Common questions
Mercer County questions, answered from the record.
How many people live in Mercer County, Kentucky?
23,028, in 9,181 households, ranking 51st of 120 Kentucky counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Mercer County growing?
The population has grown 3.86 percent since the 2020 census base. In 2024 there were 272 births against 369 deaths, with net migration of 423. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Mercer County?
$64,824. The median owner-occupied home is valued at $202,300, which is 3.1 times income, and median gross rent is $831 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Mercer County?
359 establishments, employing 5,351 people with an annual payroll of $288.4 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Mercer County?
Average annual pay is $59,248, or $1,139 a week, across 6,560 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Mercer County?
15 7(a) approvals totalling $5.6 m since FY2020, across 10 lenders, with a median approval of $186,900, plus 1 504 approvals worth $823,000. These are approvals recorded in the release, not loans disbursed.
What is being built in Mercer County?
148 housing units were authorised by permit in 2024, with a declared construction value of $28.7 m. Multifamily was 38.5 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Mercer County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Mercer County come from?
The largest single origin is Mercer County Non-migrants, with 8,140 households. Arriving households report an average income of $58,793 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Mercer County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Mercer County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.