Market Intelligence · PA / Erie

Erie, PA 16502 Housing Market

Typical home value in Erie 16502 stands at $124,517, up 4.0% over the past year. The median list price is $124,675, with homes staying on the market for a median of 32 days.

Updated September 2026Median value$125K

The median home value in Erie, PA 16502 is $125K as of September 2026, up 4.0% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 16502 range

$115K to $134K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+4.0% over 12 months

Sep 2025$120K

Low $120KHigh $125K

Sep 2026$125K

The numbers

What is the 16502 housing market like?

As of September 2026

Typical home value

$125K

4.0%YoY

Median list price

$125K

3.7%MoM

Days on market

0.0%MoM

Homes for sale

50.0%MoM

Price cuts

31.5%

104.8%MoM

New listings

0.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

16502 housing market forecast 2027

+2.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 16502 to rise 2.3% by September 2027.

Over the 12 months through September 2026, typical home values in 16502 rose 4.0%, per the Zillow Home Value Index.

Will home prices drop in 16502?

Zillow's forecast does not call for a drop: it expects typical home values in 16502 to rise 2.3% by September 2027, after a 4.0% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 16502 home prices compare?

16502$124,517
Erie$187,114
Pennsylvania$236,800
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Erie: 10 ZIPs; Pennsylvania: 1,362 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, there are 12 homes for sale in this ZIP, with 8 new listings added recently. The median days on market of 32 suggests a moderate pace of sales activity. However, 31.5% of listings have received price cuts, indicating some sellers are adjusting expectations. The year-over-year home value gain of 4.0% is modest. For sellers, the combination of price reductions and steady inventory suggests a balanced market where pricing strategy matters.

Monthly payment

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Home price

Down payment20% · $24,903

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Common questions

What people ask us.

What is the typical home value in Erie 16502?

Typical home value is $124,517, up 4.0% over the past year as of September 2026.

How many homes are currently for sale in this ZIP?

There are 12 homes for sale as of September 2026, with 8 new listings recently added.

How long do homes typically stay on the market here?

The median days on market is 32 as of September 2026.

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