scarp577 // ShutterstockCities 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 $368,720 in May, 0.8% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of June 11, the
sits at 6.52%.
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.
Stacker#9. Corry, PA
– Typical home value: $155,846
– 1-year price change: -1.8%
– 5-year price change: +15.9%
Stacker#8. Union City, PA
– Typical home value: $169,559
– 1-year price change: +0.5%
– 5-year price change: +15.2%
Stacker#7. Erie, PA
– Typical home value: $205,961
– 1-year price change: +5.7%
– 5-year price change: +44.5%
Stacker#6. Albion, PA
– Typical home value: $210,298
– 1-year price change: +8.5%
– 5-year price change: +32.0%
Stacker#5. Lake City, PA
– Typical home value: $210,487
– 1-year price change: +5.2%
– 5-year price change: +38.3%
Stacker#4. Cranesville, PA
– Typical home value: $240,354
– 1-year price change: +6.6%
– 5-year price change: +31.8%
Stacker#3. Wattsburg, PA
– Typical home value: $272,519
– 1-year price change: +8.2%
– 5-year price change: +35.0%
Stacker#2. Edinboro, PA
– Typical home value: $300,047
– 1-year price change: +6.6%
– 5-year price change: +37.7%
Stacker#1. Mc Kean, PA
– Typical home value: $306,944
– 1-year price change: +6.2%
– 5-year price change: +38.1%