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Erie city, PA

ZIP 16502 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Low Income AreaLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 16502

Median Home Value
$90,100
Median Rent
$664
Affordability Snapshot
$25,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$579/mo PITI).

23%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.6x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

11.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 16502 in Erie city, PA, a household would need roughly $25,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $579. That sits below the local median household income ($34,649), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 12% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
34.1%-48% vs US avg
x
Vacancy Rate
11.8%+14% vs US avg
x
Broadband Access
85.1%-2% vs US avg
x
4+ Bedrooms
4.0%-73% vs US avg
x
Built Pre-1939
7.4%-42% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
25.4%-49% vs US avg
x
Mortgage-Free
54.8%+43% vs US avg
x
$90,100
Home Value
$664
Rent
1938
Year Built
2017
Moved In

Residents have lived here since ~2017 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached42.2%
  • 1-unit attached4.9%
  • 2-9 units44.7%
  • 10+ units7.5%
  • Mobile home & other0.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$90,100
Median rent$664
Owner-occupied34.1%
Vacant11.8%
Price-to-income2.6x
Est. income to buy$25,000