Erie, Pennsylvania Real Estate & Housing Market

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Erie Housing Information

Index	Erie	Pennsylvania	National
Median home price	$86,700	$167,700	$184,700
Median rent asked	$662	$859	$949
Avg. people per household	2.3	2.4	2.6
Owner occupied households	51.2%	69.0%	63.6%
Renter occupied households	48.8%	31.0%	36.4%

A general overview of the Erie, PA real estate market is displayed above. The median home price for homes in Erie, PA is $86,700, which is 48% lower than the Pennsylvania average. This means that real estate in the Erie, PA area is generally more affordable than the rest of Pennsylvania. The median rent price in Erie, PA is $662 which is 23% lower than the Pennsylvania average. In Erie, PA, 51.2% of people are home owners and an average of 2.3 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Erie, PA. We make it easy to find Erie, PA real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Erie Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in Erie, PA. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Erie, PA is $86,700 and the median household income is $35,205. This results in a home price to income ratio of 2.5x, which is 19% lower than the Pennsylvania average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Erie, PA are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Erie, PA.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Penn State Erie (Behrend), PA	1,680	$0	100%
Cranesville, PA	559	$82,200	55%
Wesleyville, PA	3,258	$82,400	55%
Wattsburg, PA	519	$84,700	54%
Lawrence Park, PA	3,874	$98,400	47%
Erie, PA	100,157	$86,700	53%

Cities with similar population

City, State	Population	Home Price	National Avg.
Kenosha, WI	99,865	$141,400	23%
Hillsboro, OR	100,462	$255,700	38%
Jurupa Valley, CA	100,737	$270,700	47%
Roanoke, VA	99,329	$133,000	28%
South Bend, IN	101,037	$80,500	56%
Erie, PA	100,157	$86,700	53%

Source: The Erie, PA housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).