Erie, PA

Population: 101,972
Average annual home appreciation rate: -2.94%
Total of homes for sale in this market:
Median home price: $82,673
Median Rent: $484 per room
Home price range: 53.84% of homes are between $52,001 – $103,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 55.04% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 11.25%
Number of renters: 44.71%
Number of owner occupied: 55.29%
Number people living below poverty level: 26.08%
Unemployment rate: 7.90%
Is this area perfect for real estate deals going on right now? The market in Erie is showing what many investors call the ‘perfect storm’. Low overall home prices, higher than average rent, higher poverty/unemployment rate, and huge discounts on ‘troubled’ properties (foreclosed/vacant). Troubled properties are owned by motivated seller that are willing to negotiate deals with cash buyers.

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