The Most Affordable Neighborhoods in Erie, PA by Home Value

These days, finding an affordable place to live in the Erie area can be challenging. Home prices in Erie are now at a median cost of $167,158, lower than the Pennsylvania average of $288,156.

The average cost of rent is $1,021/mo in Erie, primarily driven by the current value of real estate in the Erie area. In Erie, 38.42% of households rent, and 49.40% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Erie is $5,340 per month. Households that rent pay about 19.13% of their income on rent here. Erie’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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