June's First-Time Homebuyer Report for Merced County

Merced County is an average-sized county in California with a population of 255,793 residents, and it has an average density compared to the rest of the state, with 132.2 people per square mile. Its three largest cities are Merced, Los Banos, and Atwater. It should be noted that 49.2% of the homes in Merced County are owned, while 41.2% are rentals. Topping the list of best schools in the county is Gratton Elementary School.

Price Range

The median value of homes in Merced County is $107,600, making it one of the lower priced areas in California. At the same time, the average list price of available homes is presently $270,687. 95301, 93635, and 95340 are the least costliest places in the county. In this week's report, the number of homes sold in the Merced County market fell to 144 over the past 30 days, a decrease of 6.5% from last week's report, but still above the monthly average.

Typical Dwelling

A three-bedroom detached home valued around $246,355 is considered a typical dwelling in Merced County. If a buyer was looking for a similar home, they would need good credit and a $49,271 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,176 and the property tax rate is $8.24 per $1,000 of taxable assessed value.

Get started right now by checking out Merced County homes for sale or reviewing Merced County real estate trends.


Data reported through 6/15/2017

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