Market Intelligence · PA / Erie

Erie, PA 16508 Housing Market

Homes in Erie's 16508 ZIP code have a typical value of $169,061, up 4.7% over the past year. The median list price stands at $185,228, with homes spending a median of 28 days on the market as of September 2026.

Updated September 2026Median value$169K

The median home value in Erie, PA 16508 is $169K as of September 2026, up 4.7% 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 16508 range

$156K to $183K

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

+4.7% over 12 months

Sep 2025$161K

Low $161KHigh $169K

Sep 2026$169K

The numbers

What is the 16508 housing market like?

As of September 2026

Typical home value

$169K

4.7%YoY

Median list price

$185K

2.5%MoM

Days on market

26.3%MoM

Homes for sale

16.7%MoM

Price cuts

11.6%

35.2%MoM

New listings

0.0%MoM

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

The outlook

16508 housing market forecast 2027

+3.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 16508 to rise 3.3% by September 2027.

Over the 12 months through September 2026, typical home values in 16508 rose 4.7%, per the Zillow Home Value Index.

Will home prices drop in 16508?

Zillow's forecast does not call for a drop: it expects typical home values in 16508 to rise 3.3% by September 2027, after a 4.7% 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 16508 home prices compare?

16508$169,061
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 28 homes for sale in 16508, with 20 new listings added recently. The median list price of $185,228 exceeds the typical home value by a meaningful margin, and homes are taking 28 days to sell on average. About 11.6% of listings have already seen a price reduction, suggesting some sellers are adjusting to market conditions. For homeowners considering a sale, the gap between list and value prices, combined with modest price-cut activity, indicates a balanced market where pricing strategy matters.

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Common questions

What people ask us.

What is the typical home value in 16508?

The typical home value in 16508 is $169,061, up 4.7% over the past year as of September 2026.

How long do homes stay on the market in 16508?

Homes in 16508 spend a median of 28 days on the market as of September 2026.

How many homes are currently for sale in 16508?

There are 28 homes for sale in 16508 as of September 2026, with 20 new listings in the period.

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