Cities with the most expensive homes in the Erie metro area
Cities with the most expensive homes in the Erie metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $355,696 in March, 4.6% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of May 2, the 30-year fixed mortgage rate sits at 7.22%.Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Erie metro area using data from Zillow. Charts show the monthly typical home value since January 2018. All 9 cities and towns with data available were included in the list.
#9. Union City, PA
- Typical home value: $132,638
- 1-year price change: +0.9%
- 5-year price change: +25.1%
#8. Corry, PA
- Typical home value: $137,438
- 1-year price change: +6.4%
- 5-year price change: +40.3%
#7. Albion, PA
- Typical home value: $170,323
- 1-year price change: +4.7%
- 5-year price change: +36.3%
#6. Erie, PA
- Typical home value: $173,679
- 1-year price change: +9.1%
- 5-year price change: +50.8%
#5. Lake City, PA
- Typical home value: $179,789
- 1-year price change: +4.7%
- 5-year price change: +43.6%
#4. Cranesville, PA
- Typical home value: $199,271
- 1-year price change: +5.1%
- 5-year price change: +43.9%
#3. Wattsburg, PA
- Typical home value: $241,713
- 1-year price change: +7.2%
- 5-year price change: +45.8%
#2. Edinboro, PA
- Typical home value: $256,355
- 1-year price change: +5.6%
- 5-year price change: +42.7%
#1. Mc Kean, PA
- Typical home value: $268,754
- 1-year price change: +8.0%
- 5-year price change: +46.8%
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 379 metros.
