The housing market in Erie, IL is relatively stable compared to the national average. The median value for homes in Erie is $140,800 which is much lower than the US house median value of $338,100. Despite having a much lower house price point, the appreciation rate over the last year has still been strong at 6.99%, not far behind the US one year house appreciation rate of 8.27%. This makes buying a house in Erie an attractive option for many buyers looking for affordable housing in a stable area.
The median home cost in Erie is $140,800. Home appreciation the last 10 years has been 34.4%. Home Appreciation in Erie is up 8.3%.
Average Age of Homes
- The median age of Erie real estate is 50 years old
The Rental Market in Erie
- Renters make up 18.4% of the Erie population
- 1.2% 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.