The story of this market
The typical home in ZIP 16503 sells for about $69,900, or $113 per square foot.
Prices are up +6.9% from a year ago, so sellers still have some momentum. Homes take about 7 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $869 a month.
ZIP 16503 — Erie
The 16503 housing market is characterized by a high volume of lower-priced, multi-family, and distressed properties, with a significant renter-occupied base. Market data for the ZIP is limited, with county-level trends showing a 6.9% year-over-year price increase. The area remains a high-density, urban environment with property tax rates notably above the state average.
This ZIP is primarily suited for investors and budget-conscious buyers, given the prevalence of lower-priced housing stock and a high concentration of rental properties.
Median prices moved up 6.9% year over year.
Homes spend a median of 7 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 12.5% · poverty 34.7% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 16503, Erie County PA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The effective property tax rate in this ZIP is approximately 2.0%, which is higher than the Pennsylvania state average of 1.2%.
The area has a high renter-occupied share of 62%, significantly higher than the state average of 31%.
Data sourced from City-Data.com and US Census Bureau estimates.
- Splash Lagoon4.35.3 mi
- Waldameer & Water World4.64.6 mi
- Elevate Trampoline Park4.42.3 mi
- Round1 Bowling & Arcade - Erie4.24.2 mi
- Play Port Arcade & Family Fun Center4.64 mi
- Erie Insurance Arena4.60.6 mi
- Golden Corral Buffet & Grill4.25.1 mi
- Bayfront Convention Center4.51.4 mi
- Port Farms4.716.8 mi
- Lake Erie Speedway4.512.4 mi
- Presque Isle State Park4.83.2 mi
- Splash Lagoon4.35.3 mi
- Erie Zoo4.41.9 mi
- Presque Isle Beach4.83.4 mi
- Presque Isle Lighthouse4.73.6 mi
- Presque Isle State Park4.83.2 mi
- Asbury Woods4.86.9 mi
- Presque Isle: Beach 114.62.6 mi
- Frontier Park4.82.5 mi
- Presque Isle: Beach #14.84.3 mi
- Erie Yacht Club4.63.1 mi
- North East Marina4.516.9 mi
- Sun Life Marinas - Bay Harbor4.61.8 mi
- Sun Life Marinas - Perry's Landing4.61.8 mi
- Lake Erie4.665.2 mi
- Whispering Woods Golf Club4.57.4 mi
- Mound Grove Golf Course4.69.4 mi
- Scenic Heights Golf Course4.49.6 mi
- The Ridge Golf Club4.28.7 mi
- Lake Shore Country Club4.68.2 mi
- Millcreek Mall Complex4.34.2 mi
- T.J. Maxx4.44.4 mi
- Kohl's4.34.7 mi
- Ross Dress for Less4.24.3 mi
- Burlington4.14.8 mi
- Erie International Airport4.25.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.