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Hermitage

Learn about the people, housing, costs and businesses in Hermitage, Pennsylvania

Median Home$195,427
Median Rent$936/month
Population16,196
Leading IndustriesRetail · Public Administration18% retail
Home Value Growth⬆⬆+12.8% over 2 years
Retirees26% of residentsabove average nationally
Homeowners69% of occupied units
NotableAmenity Score76/100 · highly walkable area
NotableVeteran Community10% of residents · top 14% nationally
Hermitage
PA

Frequently Asked Questions

What are today's mortgage rates in Hermitage?

As of today, the 30-year fixed mortgage rate for Hermitage is approximately 7.023% (7.064% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Hermitage?

The median home value in Hermitage is $195k. The median monthly rent is $936. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Hermitage?

Home values in Hermitage have increased 12.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Hermitage?

Based on a typical all-in ownership cost of $946/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Hermitage is $68k/year.

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What industries drive the economy in Hermitage?

The largest employment sectors in Hermitage are public administration (29%) and retail (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.