Mercer County, Kentucky: commercial real estate data.
Mercer County, Kentucky had an estimated 23,515 residents on July 1, 2024, up 3.9 percent since the 2020 census base of 22,640, across 249 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Mercer County
How many people live in Mercer County
- Population, American Community Survey 2020-202423,028
- 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-equivalents, Puerto Rico included1731st of 3,222
Mercer County is the 51st largest of 120 Kentucky counties by population. A median home costs 3.1 times median household income, which is moderately unaffordable 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's population growing?
- Population, July 1, 202423,515
- Census 2020 base population22,640
- Population change since the 2020 census base3.86 percent
- Population change, 2023 to 2024326
- 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 of 3,144
The county has grown 3.86 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration 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 are people moving to Mercer County from?
- Tax returns filed by households arriving682
- People arriving, from those returns1,268
- Tax returns filed by households leaving563
- Net household movement119
- Adjusted gross income arriving$40.1 m
- Net adjusted gross income movement$14.4 m
- Average income of an arriving household$58,793
- Average income of a leaving household$45,659
- Largest single originBoyle County (96 households)
- Largest single destinationBoyle County (108 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Boyle County | 96 | 194 | $4.5 m |
| Fayette County | 94 | 162 | $5.1 m |
| Jessamine County | 47 | 84 | $3.0 m |
| Anderson County | 42 | 83 | $1.3 m |
| Franklin County | 26 | 47 | $1.6 m |
| Garrard County | 23 | 37 | $880,000 |
| Lincoln County | 22 | 40 | $939,000 |
| Woodford County | 21 | 38 | $1.6 m |
Households arriving report $13,134 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Boyle County, 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 is the Mercer County economy?
- 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 the Kentucky areas BEA publishes45th of 120
- Rank by GDP among the US county areas BEA publishes1731st of 3,127
- 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
Employment by industry in Mercer County
- Covered employment, annual average6,560
- Establishments reporting586
- Average annual pay$59,248
- Average weekly wage$1,139
- Manufacturing, employment1,982
- Manufacturing, average annual pay$84,961
- Health care and social assistance, employment799
- Health care and social assistance, average annual pay$42,212
- Retail trade, employment668
- Retail trade, average annual pay$37,895
- Accommodation and food services, employment482
- Accommodation and food services, average annual pay$20,680
- Administrative and support and waste management services, employment448
- Construction, employment341
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 1,982 | 32 | $84,961 |
| Health care and social assistance | 799 | 72 | $42,212 |
| Retail trade | 668 | 58 | $37,895 |
| Accommodation and food services | 482 | 43 | $20,680 |
| Administrative and support and waste management services | 448 | 24 | $79,057 |
| Construction | 341 | 58 | $65,387 |
| Arts, entertainment and recreation | 227 | 7 | $32,420 |
| Transportation and warehousing | 147 | 16 | $54,886 |
Manufacturing is the largest private sector at 1,982 jobs, 30.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Mercer County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Mercer County
Building permits in Mercer County
- Housing units authorized by permit, 2024148
- Declared construction value permitted$28.7 m
- Single family units authorized91
- Multifamily units authorized57
- Multifamily share of units38.5 percent
- Average declared value per unit$194,107
- Units authorized per 1,000 households16.1
Single-family homes are 61.5 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Mercer County
SBA loans in Mercer County (7(a) and 504)
- 7(a) approvals recorded15
- 7(a) gross approval dollars$5.6 m
- Average 7(a) approval$374,493
- Median 7(a) approval$186,900
- 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
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$6.4 m
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
SBA loan default and charge-off rates in 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
Only 5 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Mercer County
SBA lending by place in Mercer County
- Borrower cities with recorded lending2
- Harrodsburg, approvals11
- Salvisa, approvals4
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Harrodsburg | 11 | $4,227,200 |
| Salvisa | 4 | $1,390,200 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Mercer County
How large 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.
Mercer County
Flood risk in Mercer County
- Participation of the county's own NFIP community Mercer County, unincorporated areasParticipating, community 210306
- Communities in the county in the NFIP Community Status Book3
- Of those, participating in the NFIP3
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Mercer County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Mercer County (community 210306), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Mercer County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202423,028
- 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?
The Census Bureau estimates 23,515 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 3.86 percent since the 2020 census base of 22,640, to 23,515 on July 1, 2024. 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 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 employment by industry in Mercer County?
Manufacturing is the largest private sector at 1,982 jobs, 30.2 percent of covered employment. Covered employment averages 6,560 jobs at an average annual pay of $59,248, or $1,139 a week. 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 totaling $5.6 m since FY2020, across 10 lenders, with a median approval of $186,900, plus 1 504 approvals worth $823,000 since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Mercer County?
148 housing units were authorized 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 Boyle County, with 96 households. Arriving households report an average income of $58,793 against $45,659 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Mercer County
Cities and places in Mercer.
3 Census places lie wholly or partly in Mercer County. All 3 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Harrodsburg | city | 9,313 | 11 | Wholly in this county |
| Burgin | city | 993 | None recorded | Wholly in this county |
| Salvisa | CDP | 236 | 4 | Wholly in this county |
Nearby