Erie PA Housing Market Report — 2026
Data compiled April 2026. Sources: DataUSA, Redfin, NeighborhoodScout, PA Department of Revenue.
Erie's Housing Reality
77% of Erie's housing stock was built before 1970. Combined with 104+ inches of annual snowfall, a 23% poverty rate, and near-50% renter occupancy, Erie has a structural, ongoing pipeline of cash buyer demand unlike most Pennsylvania markets. The urban core trades at $80K-$120K. The Millcreek suburban corridor has moved to $250K-$350K+.
Key Market Metrics
| Metric | Value | Source / Notes |
|---|---|---|
| Median Home Value (DataUSA ACS 2024) | $115,200 | DataUSA.io — 5-year ACS estimate |
| Median Home Value (City-Data ACS 2024) | $135,200 | City-Data.com — 1-year ACS estimate |
| Median Home Value (NeighborhoodScout) | $118,479 | NeighborhoodScout — repeat-sales methodology |
| Median Sale Price — ZIP 16503 (inner city) | $81,000 | Redfin, Feb 2026 |
| Median Sale Price — ZIP 16505 (west/Millcreek) | $300,000 | Redfin, Feb 2026 |
| Median Sale Price — ZIP 16509 (Millcreek south) | $245,000 | Redfin, Feb 2026 |
| YoY Price Change (16503) | +70.5% | Redfin Feb 2026 (small base effect) |
| YoY Price Change (16505) | +15.8% | Redfin Feb 2026 |
| YoY Price Change (16509) | +27.1% | Redfin Feb 2026 |
| Median Days on Market (16503) | 42 days | Redfin Feb 2026 |
| Median Days on Market (16505) | 20 days | Redfin Feb 2026 — hottest segment |
| Median Days on Market (16509) | 31 days | Redfin Feb 2026 |
| Compete Score (16503) | 71/100 — Very Competitive | Redfin |
| Compete Score (16505) | 81/100 — Very Competitive | Redfin |
| Compete Score (16509) | 73/100 — Very Competitive | Redfin |
| Sale-to-List Ratio (16503) | 95.6% | Redfin Feb 2026 |
| Sale-to-List Ratio (16505) | 97.8% | Redfin Feb 2026 |
| Sale-to-List Ratio (16509) | 98.1% | Redfin Feb 2026 |
| NeighborhoodScout 12-mo appreciation | -0.86% | NeighborhoodScout Q2-Q3 2025 |
| NeighborhoodScout latest quarter (annualized) | +14.91% | NeighborhoodScout Q3 2025 |
| Cash offer range (urban Erie, ~$115K) | $70,000–$90,000 | USA Home Buyers estimate — 60-75% of ARV |
| Cash offer range (Millcreek, ~$275K) | $175,000–$225,000 | USA Home Buyers estimate — 65-80% of FMV |
| Erie transfer tax | 2.0% total (1% state + 1% local) | PA Dept. of Revenue — standard PA rate |
| Typical realtor commission | 5–6% | Industry standard |
| Housing stock — pre-1939 | 38.6% | NeighborhoodScout 2025 |
| Housing stock — 1940-1969 | 38.7% | NeighborhoodScout 2025 |
| Annual snowfall | 104+ inches | Third snowiest US city — structural housing impact |
Market data last updated: April 2026
Erie Market Bifurcation
Erie's market is essentially two markets operating simultaneously. Understanding which one applies to your property is critical to pricing expectations:
| Segment | ZIP Codes | Median Price | $/sqft | DOM |
|---|---|---|---|---|
| Urban core / inner city | 16501, 16502, 16503, 16504 | $50K–$120K | $32–$45 | 30-50 days |
| West Erie / Millcreek corridor | 16505, 16506 | $250K–$400K+ | $129 | 15-25 days |
| Millcreek South / suburban | 16509 | $200K–$280K | $124 | 25-35 days |
Source: Redfin ZIP code market pages (16503, 16505, 16509), Feb 2026. Price per sqft data from Redfin Feb 2026.
Transfer Tax — Erie PA
Erie PA has Pennsylvania's standard 2% total transfer tax — significantly lower than some other PA markets like Reading (5%). The split is 1% PA state plus 1% local tax (split between city and school district). By convention, buyer and seller each pay 1%.
| Location | Local Tax | PA State | Total | On $115K Sale |
|---|---|---|---|---|
| City of Erie | 1.0% | 1.0% | 2.0% | $2,300 |
| Millcreek Township | 1.0% | 1.0% | 2.0% | $2,300 |
| Reading (for comparison) | 4.0% | 1.0% | 5.0% | $5,750 on $115K |
| Harrisburg (for comparison) | 0.5% | 1.0% | 1.5% | $1,725 on $115K |
Source: PA Department of Revenue — Realty Transfer Tax · When you sell to USA Home Buyers, we cover all closing costs including the full transfer tax.
Housing Stock Characteristics
Housing Age
| Before 1939 | 38.6% |
| 1940–1969 | 38.7% |
| 1970–1999 | 19.4% |
| 2000+ | 3.3% |
Key Housing Facts
| Pre-1970 total | 77.3% |
| Annual snowfall | 104+ inches |
| Owner-occupied | ~50% |
| Renter-occupied | ~50% |
77.3% of Erie's housing is pre-1970. These homes frequently have knob-and-tube or early circuit-breaker electrical, cast iron or galvanized plumbing, aging roofs, and deferred maintenance from Erie's punishing winters. That is exactly the housing stock cash buyers purchase. Source: NeighborhoodScout
Demographics
| Population (2024) | 92,940–93,850 |
| Metro Population (2020) | 270,876 |
| Median Age | 34.8 years |
| Median Household Income | $46,113–$47,733 |
| Poverty Rate | 22.7–23.3% |
| Owner-Occupied | ~50% |
| Renter-Occupied | ~50% |
| Vacancy Rate | 9.1% |
| White (non-Hispanic) | 63.84% |
| Black or African American | 17.31% |
| Hispanic or Latino | 8.55% |
| Asian | 3.74% |
Sources: DataUSA.io, City-Data.com, NeighborhoodScout, Wikipedia (2020 Census)
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