Market Intelligence · PA / Erie

Erie, PA 16505 Housing Market

The typical home value in Erie's 16505 ZIP code is $263,243, up 5.7% over the past year. The median list price sits at $287,425, and homes take a median of 38 days on market.

Updated June 2026Median value$263K

The median home value in Erie, PA 16505 is $263K as of June 2026, up 5.7% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 16505 range

$242K to $284K

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

+5.7% over 12 months

Typical home value in 16505 over the last 12 months: $249K in Jun 2025 to $263K in Jun 2026 (+5.7%).

Jun 2025$249K

Jun 2026$263K

The numbers

What is the 16505 housing market like?

Typical home value

$263K

Up5.7%YoY

Median list price

$287K

Days on market

38

Up484.6%MoM

Homes for sale

14

Price cuts

10.0%

New listings

18

Sources · Zillow ZHVI (June 2026) / Realtor.com (June 2026) / FRED (July 2026)

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The comparison

How do 16505 home prices compare?

  • 16505$263,243
  • Erie$193,526
  • Pennsylvania$242,059
  • United States$291,471

Median Zillow home value (ZHVI), as of June 2026. Comparison levels are medians across every ZIP code with Zillow data (Erie: 10 ZIPs; Pennsylvania: 1,362 ZIPs; United States: 26,270 ZIPs).

Context

As of June 2026, there are 14 homes for sale in 16505, with 18 new listings coming onto the market. The median list price is $287,425, while the typical home value is $263,243, up 5.7% over the past year. Homes here take a median of 38 days to sell, and 10.0% of listings have had a price cut. For sellers, the yearly gain in home values is a positive sign, but pricing carefully still matters given the pace of sales.

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