Erie housing market
Typical home value
$222K
▲ 4.7% 1 yr
Typical rent
$1,126/mo
▲ 2.6% 1 yr
12-month forecast
+4.1%
#49 of 546 metros
Gross rent yield
6.1%
#245 of 546 · U.S. 6.3%
Days to pending
24 days
▼ −4 days 1 yr
Listings with a price cut
24%
▲ +0.3 pts 1 yr
Key takeaways
- 1The typical home is worth $222,048, up 4.7% in a year and up 38% over five years.
- 2Zillow forecasts home values rising 4.1% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,126/mo (+2.6% YoY), a 6.1% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,220/mo in principal and interest, $94 more than renting.
- 5Homes go under contract in 24 days (−4 days vs last year); 24% of listings have had a price cut.
Market temperature
Seller's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 59/100, #41 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Erie compares
| Measure | Erie | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +4.7% | +1.2% | #88 |
| Home value, 5-yr change | +38.3% | +19.7% | |
| 12-month forecast | +4.1% | +1.1% | #49 |
| Rent, 1-yr change | +2.6% | +2.7% | #347 |
| Gross rent yield | 6.1% | 6.3% | #245 |
| Price-to-rent ratio | 16.4 | 15.8 | |
| Mortgage P&I on typical home | $1,220 | $2,012 | |
| Income needed to buy | $66,288 | $100,902 | |
| Days to pending | 24 | 56 |
Cities in the Erie metro
1 cities with home value and rent data.
| Erie | $204K | ▲ 4.5% | $1,098 | ▲ 2.6% | 6.5% |
Run the numbers
Rental property calculator
Cash flow on a typical Erie rental ($222K, $1,126/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Erie home.
Rent vs buy
Is it cheaper to rent or buy in Erie?
Renting out a property in Pennsylvania? See deposit limits, late fee rules and notice periods.
Other Pennsylvania metros
Philadelphia, PA
$386K home$1,903 rent5.9% yield
▲ 2.5% 1 yr
Pittsburgh, PA
$228K home$1,467 rent7.7% yield
▲ 0.2% 1 yr
Allentown, PA
$363K home$1,841 rent6.1% yield
▲ 3.2% 1 yr
Harrisburg, PA
$307K home$1,481 rent5.8% yield
▲ 2.6% 1 yr
Scranton, PA
$234K home$1,362 rent7.0% yield
▲ 2.3% 1 yr
Lancaster, PA
$386K home$1,575 rent4.9% yield
▲ 4.3% 1 yr
York, PA
$309K home$1,380 rent5.4% yield
▲ 3.4% 1 yr
Reading, PA
$311K home$1,551 rent6.0% yield
▲ 3.5% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.