Erie, PA has a median house value of $159,600, which is significantly lower than the US median house value of $338,100. This lower cost of housing in Erie presents an attractive option for people who are looking to buy a home or invest in real estate. However, while the US housing market appreciates at 8.27% each year on average, the appreciation rate for housing in Erie is only 4.92%. Despite this lower rate of appreciation, Erie still provides an affordable option for people looking to get into the housing market.
The median home cost in Erie is $159,600. Home appreciation the last 10 years has been 55.4%. Home Appreciation in Erie is up 15.2%.
Average Age of Homes
- The median age of Erie real estate is 69 years old
The Rental Market in Erie
- Renters make up 43.6% of the Erie population
- 3.6% of houses and apartments in Erie, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.