Zip 16505 (Erie, PA) Housing

Erie, Pennsylvania is an affordable place to purchase a home when compared to the national average. The median value of housing in Erie, PA is $190,800, which is significantly lower than the median US house value of $338,100. While the US house appreciation rate for the past year was 8.27%, Erie's appreciation rate was only 4.92%. This suggests that real estate prices in Erie are growing at a slower rate than other cities and states across America, making it a cost-effective option for those looking to buy or sell a home.

The median home cost in Erie (zip 16505) is $190,800. Home appreciation the last 10 years has been 55.4%. Home Appreciation in Erie (zip 16505) is up 15.2%.

Average Age of Homes

- The median age of Erie (zip 16505) real estate is 60 years old

The Rental Market in Erie (zip 16505)

- Renters make up 27.1% of the Erie (zip 16505) population
- 0.9% of houses and apartments in Erie (zip 16505), 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
	8,691.0	139,647,020.0
	63	42
	$190,800	$338,100
	15.2%	16.6%
	46.6%	57.0%
	55.4%	101.1%
	$19.11	$10.98
	$3,126	$2,690
	66.5%	57.4%
	11.9%	11.2%
	21.6%	31.4%
Vacant Housing
	0.9%	1.9%
	1.3%	0.4%
	1.5%	0.7%
	0.8%	0.4%
	4.3%	3.6%
	3.3%	4.1%
Value of Owner-Occupied Housing
	4.5%	2.6%
	1.2%	2.4%
	1.7%	2.8%
	0.9%	3.9%
	4.2%	4.5%
	30.3%	11.3%
	23.3%	13.0%
	16.2%	20.1%
	5.8%	13.6%
	3.1%	8.3%
	3.2%	9.7%
	4.6%	3.9%
	1.0%	2.2%
	0.0%	0.8%
	0.1%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.8%	13.6%
	2.8%	13.6%
	9.1%	13.6%
	9.3%	13.2%
	14.5%	14.8%
	9.1%	13.6%
	21.0%	10.0%
	12.1%	4.7%
	20.3%	12.2%

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