Erie County, Pennsylvania Housing Market
In Erie County, Pennsylvania, the median home value is $177,000, with a median monthly rent of $904. This places Erie County at #1675 nationally out of 3134 counties by median home value, and #42 within Pennsylvania.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,054
- Establishments: 6,393
- BLS QCEW, 2025
Housing Supply
- Single-family: 183
- Multi-family: 60
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 111,300 (avg $71,695)
- Outflow: 108,208 (avg $72,062)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Erie County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 16426 | 282.9 | +8.75% | 2025 |
| 2 | 16421 | 259.5 | — | 2025 |
| 3 | 16502 | 215.5 | +11.29% | 2025 |
| 4 | 16417 | 256.7 | +13.88% | 2025 |
| 5 | 16510 | 246.9 | +13.29% | 2025 |
| 6 | 16509 | 236.8 | +8.94% | 2025 |
| 7 | 16511 | 239.8 | +7.88% | 2025 |
| 8 | 16508 | 217.7 | +6.39% | 2025 |
| 9 | 16505 | 242.8 | +9.34% | 2025 |
| 10 | 16506 | 239.6 | +9.82% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Erie County Compares
| Metric | Erie County | Pennsylvania Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $177,000 | $212,079 | $227,706 |
| Median Gross Rent | $904 | $990 | $968 |
| Owner Occupancy Rate | 68.1% | 74.2% | 73.3% |
| Price/Rent Ratio | 16.3 | 17.5 | 18.7 |
Market Analysis
The median home value in Erie County is 16.5% below the Pennsylvania state average and 22.3% below the U.S. national average. The median rent of $904/month is 8.7% below the state average.
With a price-to-rent ratio of 16.3, the buy-vs-rent decision in Erie County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Erie County has an owner-occupancy rate of 68.1%, compared to 74.2% in Pennsylvania and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Wabaunsee County | Kansas | $177,300 | $780 |
| Garfield County | Nebraska | $176,600 | $490 |
| Nodaway County | Missouri | $177,500 | $786 |
| Surry County | North Carolina | $177,600 | $761 |
| Sangamon County | Illinois | $176,300 | $983 |
Other Counties in Pennsylvania
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Clinton County | $175,900 | $820 | 72.3% |
| Bedford County | $179,000 | $784 | 77.5% |
| Luzerne County | $174,100 | $1,004 | 67.8% |
| Tioga County | $181,100 | $863 | 77.4% |
| Huntingdon County | $183,200 | $810 | 79.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).