Market Intelligence · PA / Erie

Erie, PA 16509 Housing Market

The typical home value in Erie 16509 is $271,764, up 5.3% over the past year. Homes are listed at a median price of $299,675 and spend a median of 36 days on market.

Updated September 2026Median value$272K

The median home value in Erie, PA 16509 is $272K as of September 2026, up 5.3% 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 16509 range

$250K to $294K

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

+5.3% over 12 months

Sep 2025$258K

Low $258KHigh $272K

Sep 2026$272K

The numbers

What is the 16509 housing market like?

As of September 2026

Typical home value

$272K

5.3%YoY

Median list price

$300K

1.7%MoM

Days on market

12.5%MoM

Homes for sale

8.8%MoM

Price cuts

22.7%

70.4%MoM

New listings

37.5%MoM

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

The outlook

16509 housing market forecast 2027

+3.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 16509 to rise 3.2% by September 2027.

Over the 12 months through September 2026, typical home values in 16509 rose 5.3%, per the Zillow Home Value Index.

Will home prices drop in 16509?

Zillow's forecast does not call for a drop: it expects typical home values in 16509 to rise 3.2% by September 2027, after a 5.3% 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 16509 home prices compare?

16509$271,764
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 37 homes for sale in the 16509 ZIP, with 20 new listings entering the market. The median list price sits at $299,675, while the typical home value has climbed to $271,764, reflecting a 5.3% annual gain. Homes stay on market for a median of 36 days. One in five listings, at 22.7%, carries a price cut. For sellers, this means conditions favor patience and realistic pricing over urgency.

Monthly payment

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Home price

Down payment20% · $54,353

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Common questions

What people ask us.

What is the typical home value in 16509?

The typical home value in Erie 16509 is $271,764, up 5.3% over the past year as of September 2026.

How long do homes typically stay on the market in 16509?

Homes in this ZIP spend a median of 36 days on market as of September 2026.

How many homes are currently for sale in 16509?

As of September 2026, there are 37 homes for sale in the 16509 ZIP, with 20 new listings recently added.

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