Zip 16503 (Erie, PA) Housing

The housing market in 16503 Erie, PA has a median value of $47,900. This is significantly lower than the US median value of $338,100, and the 1 year house appreciation rate here is also much lower at 4.92% compared to 8.27% for the US as a whole. Despite the low values and appreciation rates, it is still possible to find good deals on housing in this area due to the relatively lower costs involved.

The median home cost in Erie (zip 16503) is $47,900. Home appreciation the last 10 years has been 55.4%. Home Appreciation in Erie (zip 16503) is up 15.2%.

Average Age of Homes

- The median age of Erie (zip 16503) real estate is 78 years old

The Rental Market in Erie (zip 16503)

- Renters make up 52.8% of the Erie (zip 16503) population
- 5.0% of houses and apartments in Erie (zip 16503), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Erie, Pennsylvania	United States
	6,494.0	139,647,020.0
	59	42
	$47,900	$338,100
	15.2%	16.6%
	46.6%	57.0%
	55.4%	101.1%
	$18.27	$10.98
	$1,241	$2,690
	30.8%	57.4%
	16.1%	11.2%
	53.1%	31.4%
Vacant Housing
	5.0%	1.9%
	0.6%	0.4%
	0.9%	0.7%
	0.3%	0.4%
	0.0%	3.6%
	9.4%	4.1%
Value of Owner-Occupied Housing
	5.2%	2.6%
	28.9%	2.4%
	31.2%	2.8%
	12.0%	3.9%
	4.8%	4.5%
	5.2%	11.3%
	10.2%	13.0%
	1.6%	20.1%
	0.9%	13.6%
	0.0%	8.3%
	0.0%	9.7%
	0.0%	3.9%
	0.2%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.9%	13.6%
	2.9%	13.6%
	3.3%	13.6%
	4.7%	13.2%
	5.0%	14.8%
	3.3%	13.6%
	8.3%	10.0%
	11.0%	4.7%
	57.7%	12.2%

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