Erie, PA — Momentum Score, Home Values & Best-For

All states·Pennsylvania·Erie

Erie County · Erie · population 92,940

First-time buyersInvestorsShrinking
Erie, PA
Image: Wikipedia · Erie, Pennsylvania
OverviewCost of livingMoving guide
View watchlist →
71
Rising
Momentum score · 0–100

Where Erie stands

At or near all-time high. home values up 5.5% in the last year. averaging 7.7% annual growth over 5 years. population shrinking 0.5% per year.

Median home $202,235
1-year +5.5%
5-yr CAGR +7.7%
vs 5-yr peak +0.0%
Population -0.5%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2026-04$202k$102k$138k$174k$210k201620182020202220242026

Lifestyle scores

🚶
Walkability
52/100
Somewhat walkable
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
30/100
Minimal transit
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
79/100
Strong remote-work fit
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$1,047/mo$693$910$1,128202220242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent145142100120140202220242026

Rent vs buy

Price-to-rent ratio: 16.1
Lean buy

At a 16.1 price-to-rent ratio, Erie is in the 'depends on horizon' zone. Buy if you'll be there 5+ years and value flexibility on the home; rent if you might move, want zero maintenance friction, or expect rates to drop.

How the momentum score breaks down

methodology →
Home YoY
77 · w22%
Home 5-yr CAGR
78 · w22%
Distance from peak
90 · w18%
Population growth
37 · w16%
Rent YoY
66 · w12%
Home 10-yr CAGR
70 · w10%
Long thesis

Erie has averaged 7.7% annual appreciation over five years and the trend is still live (+5.5% in the last 12 months). When a momentum trade keeps working, the simplest explanation is usually correct: more people want in.

Short thesis

Erie's population is shrinking 0.5% per year. Housing demand has to come from somewhere — if people are leaving, the buyer pool is shrinking faster than the inventory. That eventually shows up in price.

About Erie

Erie is a city in Erie County, Pennsylvania, with an estimated population of 92,940. The population has contracted 0.5% per year on average since 2020. The median home value in Erie is $202,235 as of 2026-04, up 5.5% over the last 12 months. Over the last five years, home values have averaged +7.7% annual growth, with prices at or near the 5-year peak. Rents in Erie average $1,047 per month, up 3.2% year-over-year. The composite momentum score is 71 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Affordable AND rising: median home $202,235 with positive recent direction — rare combination most of the country can’t offer.
●Healthy 5-year run: +7.7% annualized over 5 years, outpacing US inflation.
●Quiet strength: +5.5% over the trailing year — not a melt-up, but the market is bid.
●Held the highs: currently +0.0% from the 5-year peak — this market refused to give back gains.

▼ Bear case

●Flat or shrinking population: -0.5% per year. Housing demand has to come from somewhere — verify the source.
○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Erie (Wikipedia)

Erie is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania, United States. It is the fifth-most populous city in Pennsylvania and the most populous in Northwestern Pennsylvania with a population of 92,940 as of 2024 census estimates. The Erie metropolitan area had a population of 270,876 in 2020. Erie is about 80 miles (130 km) from Buffalo, 90 miles (140 km) from Cleveland, and 120 miles (190 km) from Pittsburgh.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorDaria Devlin
Area19.37 sq mi
Elevation728 ft
Density4,956.67/sq mi
Named forErie people

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Erie County right now.

NWS active alerts (PA)Pennsylvania Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Erie County routes NWS alerts; check the state EM portal for non-weather emergencies.

Neighborhoods of Erie

2 tracked · ranked by median home value
1Northwest Harborcreek$276,605+7.1%
2Wesleyville$145,184+4.9%

Cities like Erie

Lebanon, PA73 · RisingAllentown, PA73 · RisingYork, PA73 · RisingMurrysville, PA74 · Rising

Run the numbers for Erie

ToolCan I afford Erie?Income → city shortlistToolROI on a Erie rentalCap rate, cash-on-cash, DSCRToolCompare Erie to anywhereSide-by-side up to 3 citiesToolErie cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
36° / 21°
avg high / low
Summer (Jul)
83° / 63°
avg high / low
Sunny days/yr
186
~51% of year
Annual precip
42″ rain
30″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Low
Tornado
Low
Wildfire
Very low
Earthquake
Very low
Flood
Moderate

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Erie listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local sports teams

Major professional teams the Erie area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Local economy & environment

Humidity
71%
Humid climate
Median household income
$73,800
Pennsylvania state median
Top industries (state-level)
Healthcare (Pittsburgh)Finance (Philly)Manufacturing

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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