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 $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 30-year fixed mortgage rate 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.

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#9. Corry, PA

– Typical home value: $155,846- 1-year price change: -1.8%- 5-year price change: +15.9%

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#8. Union City, PA

– Typical home value: $169,559- 1-year price change: +0.5%- 5-year price change: +15.2%

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#7. Erie, PA

– Typical home value: $205,961- 1-year price change: +5.7%- 5-year price change: +44.5%

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#6. Albion, PA

– Typical home value: $210,298- 1-year price change: +8.5%- 5-year price change: +32.0%

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#5. Lake City, PA

– Typical home value: $210,487- 1-year price change: +5.2%- 5-year price change: +38.3%

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#4. Cranesville, PA

– Typical home value: $240,354- 1-year price change: +6.6%- 5-year price change: +31.8%

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#3. Wattsburg, PA

– Typical home value: $272,519- 1-year price change: +8.2%- 5-year price change: +35.0%

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#2. Edinboro, PA

– Typical home value: $300,047- 1-year price change: +6.6%- 5-year price change: +37.7%

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#1. Mc Kean, PA

– Typical home value: $306,944- 1-year price change: +6.2%- 5-year price change: +38.1%