Market Intelligence · PA / Erie

Erie, PA 16507 Housing Market

Typical home value in Erie, PA 16507 is $98,381, up 3.8% over the past year. The median list price stands at $206,450, with homes taking a median of 50 days on market as of September 2026.

Updated September 2026Median value$98K

The median home value in Erie, PA 16507 is $98K as of September 2026, up 3.8% 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 16507 range

$91K to $106K

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

+3.8% over 12 months

Sep 2025$95K

Low $95KHigh $100K

Sep 2026$98K

The numbers

What is the 16507 housing market like?

As of September 2026

Typical home value

$98K

3.8%YoY

Median list price

$206K

14.8%MoM

Days on market

85.2%MoM

Homes for sale

0.0%MoM

Price cuts

34.4%

New listings

0.0%MoM

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

The outlook

16507 housing market forecast 2027

+1.5%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 16507 to rise 1.5% by September 2027.

Over the 12 months through September 2026, typical home values in 16507 rose 3.8%, per the Zillow Home Value Index.

Will home prices drop in 16507?

Zillow's forecast does not call for a drop: it expects typical home values in 16507 to rise 1.5% by September 2027, after a 3.8% 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 16507 home prices compare?

16507$98,381
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

The Erie 16507 market shows modest inventory with 10 homes for sale and 4 new listings as of September 2026. The median days on market of 50 suggests a balanced pace, neither rushed nor stalled. However, 34.4% of listings have seen price cuts, indicating some seller adjustment in the face of market conditions. The typical home value gain of 3.8% over the past year is solid but gradual. For sellers, this is a market where pricing strategy and property condition matter more than ever.

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Down payment20% · $19,676

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Common questions

What people ask us.

What is the typical home value in 16507?

The typical home value in Erie, PA 16507 is $98,381, up 3.8% over the past year as of September 2026.

How long do homes typically stay on the market in 16507?

Homes in this ZIP take a median of 50 days on market as of September 2026.

What share of listings have price cuts in 16507?

As of September 2026, 34.4% of listings in this area have experienced a price cut.

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