The city of Erie, PA has an average housing median value of $194,800, which is considerably lower than the US median value of $338,100. The past year's appreciation rate for homes in the US was 8.27%, compared to 4.92% appreciation for homes in Erie, PA. This makes housing in Erie more affordable and attractive to potential buyers looking to purchase a home in the area.
The median home cost in Erie (zip 16501) is $194,800. Home appreciation the last 10 years has been 55.4%. Home Appreciation in Erie (zip 16501) is up 15.2%.
Average Age of Homes
- The median age of Erie (zip 16501) real estate is 58 years old
The Rental Market in Erie (zip 16501)
- Renters make up 91.3% of the Erie (zip 16501) population
- 10.3% of houses and apartments in Erie (zip 16501), 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.