Market Intelligence · PA / Erie

Erie, PA 16506 Housing Market

The typical home in Erie's 16506 ZIP code is worth $292,806, up 4.2% over the past year. The median list price sits at $323,675, with homes spending a median of 39 days on the market as of September 2026.

Updated September 2026Median value$293K

The median home value in Erie, PA 16506 is $293K as of September 2026, up 4.2% 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 16506 range

$269K to $316K

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

+4.2% over 12 months

Sep 2025$281K

Low $281KHigh $293K

Sep 2026$293K

The numbers

What is the 16506 housing market like?

As of September 2026

Typical home value

$293K

4.2%YoY

Median list price

$324K

0.4%MoM

Days on market

5.4%MoM

Homes for sale

16.7%MoM

Price cuts

17.4%

61.4%MoM

New listings

14.3%MoM

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

The outlook

16506 housing market forecast 2027

+3.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 16506 to rise 3.1% by September 2027.

Over the 12 months through September 2026, typical home values in 16506 rose 4.2%, per the Zillow Home Value Index.

Will home prices drop in 16506?

Zillow's forecast does not call for a drop: it expects typical home values in 16506 to rise 3.1% by September 2027, after a 4.2% 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 16506 home prices compare?

16506$292,806
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 data shows 28 homes for sale in 16506, with 24 new listings added to the market. The median list price of $323,675 reflects steady demand, though 17.4% of listings have seen a price cut. Homes are moving in about 39 days on average, a moderate pace that suggests neither a rushed seller's market nor a stagnant one. For sellers, the takeaway is straightforward: your home's value is solid and trending upward, but pricing it right from the start matters.

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Common questions

What people ask us.

What is the typical home value in 16506?

The typical home value is $292,806, which has increased 4.2% over the past year.

How long do homes typically stay on the market in 16506?

Homes spend a median of 39 days on the market in this ZIP code.

How many homes are currently for sale in 16506?

There are 28 homes for sale as of September 2026, with 24 new listings added to the market.

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