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 $358,968 in January, 0.2% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of February 19, the
sits at 6.01%.
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. Corry, PA
– Typical home value: $143,113
– 1-year price change: -3.0%
– 5-year price change: +21.8%
#8. Union City, PA
– Typical home value: $157,196
– 1-year price change: +3.8%
– 5-year price change: +22.0%
#7. Albion, PA
– Typical home value: $191,098
– 1-year price change: +4.5%
– 5-year price change: +31.7%
#6. Erie, PA
– Typical home value: $191,674
– 1-year price change: +5.5%
– 5-year price change: +49.2%
#5. Lake City, PA
– Typical home value: $195,398
– 1-year price change: +6.9%
– 5-year price change: +42.4%
#4. Cranesville, PA
– Typical home value: $218,913
– 1-year price change: +3.6%
– 5-year price change: +34.2%
#3. Wattsburg, PA
– Typical home value: $248,945
– 1-year price change: +3.9%
– 5-year price change: +34.9%
#2. Edinboro, PA
– Typical home value: $280,820
– 1-year price change: +5.1%
– 5-year price change: +39.7%
#1. Mc Kean, PA
– Typical home value: $285,717
– 1-year price change: +5.0%
– 5-year price change: +40.5%