salaryRent is higher than in 87% of U.S. cities. Household incomes are higher than in 99% of U.S. cities. A typical house costs about 8.5 years of household income, so buying is hard for most locals. It is a highly educated city: 81.4% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $102,040 a year. That is $49 an hour at a full-time job.
Is rent cheaper than other Washington cities?
No. Rent here is more expensive than in most of Washington. It is number 156 of 192 cities from cheapest to most expensive.
How much do households earn in Mercer Island?
Share of households by yearly income. 67.9% of households earn $100,000 or more.
Rent by apartment size in Mercer Island
| Size | Mercer Island | U.S. average |
|---|---|---|
| Studio | $2,286 | $1,338 |
| 1 bedroom | $2,397 | $1,324 |
| 2 bedrooms | $3,106 | $1,509 |
| 3 bedrooms | $3,500+ | $1,698 |
| 4 bedrooms | $3,500+ | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Mercer Island overall?
Everyday prices in Washington overall are 7% above the U.S. average (index 107.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Mercer Island, so the Washington figure is shown.
Taxes and bills in Mercer Island
Life in Mercer Island
Is it cheaper to rent or buy in Mercer Island?
Renting is cheaper right now: about $11,326 a month less.
Owning assumes a typical $2,000,000+ home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $200,000 for the down payment.
Frequently asked questions
What is the average rent in Mercer Island, WA?
Renting in Mercer Island costs a median of about $2,551 a month in 2026, including utilities. The Washington median is $2,025.
How much do I need to make to live in Mercer Island?
To keep rent under 30% of income, you need about $102,040 a year, or $49 an hour at a full-time job.
Is Mercer Island cheap or expensive?
Mercer Island is rated Cheap: rent takes 13.0% of the typical household income of $236,266. It ranks 156th cheapest of 192 Washington cities we track.
How much are property taxes in Mercer Island?
The median homeowner in Mercer Island pays $10,000+ a year in property taxes, about 0.50% of the median home value.
Is Mercer Island more expensive than the national average?
Overall prices in Washington are 7% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Mercer Island?
The median home value in Mercer Island is $2,000,000+, about 8.5 times the typical yearly household income.
25,307 people live in Mercer Island. Numbers are typical (middle) values.