Market Intelligence · PA / Erie

Erie, PA 16503 Housing Market

The typical home in Erie, PA 16503 is worth $68,977, up 1.2% over the past year. Homes listed here sit on the market for a median of 38 days, with a median list price of $111,175.

Updated September 2026Median value$69K

The median home value in Erie, PA 16503 is $69K as of September 2026, up 1.2% 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 16503 range

$63K to $74K

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

+1.2% over 12 months

Sep 2025$68K

Low $66KHigh $70K

Sep 2026$69K

The numbers

What is the 16503 housing market like?

As of September 2026

Typical home value

$69K

1.2%YoY

Median list price

$111K

1.2%MoM

Days on market

42.4%MoM

Homes for sale

27.3%MoM

Price cuts

16.1%

7.6%MoM

New listings

150.0%MoM

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

The outlook

16503 housing market forecast 2027

+2.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 16503 to rise 2.3% by September 2027.

Over the 12 months through September 2026, typical home values in 16503 rose 1.2%, per the Zillow Home Value Index.

Will home prices drop in 16503?

Zillow's forecast does not call for a drop: it expects typical home values in 16503 to rise 2.3% by September 2027, after a 1.2% 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 16503 home prices compare?

16503$68,977
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

September 2026 shows 14 homes for sale in this ZIP, with 10 new listings entering the market. At a median of 38 days on market, homes are moving at a steady pace. The gap between the typical home value of $68,977 and median list price of $111,175 suggests many listings are priced above what most properties in the area command. With 16.1% of listings carrying a price cut, sellers should be realistic about local demand and pricing power.

Monthly payment

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Home price

Down payment20% · $13,795

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in 16503?

The typical home value is $68,977, up 1.2% over the past year.

How long do homes typically sit on the market here?

Homes spend a median of 38 days on the market before selling.

How many homes are currently for sale in 16503?

There are 14 homes for sale as of September 2026, with 10 new listings recently added.

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Nearby ZIP markets.

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