There are currently 57,836 real estate properties in Erie, PA, with a median automated valuation model (AVM) price of $159,203.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Erie, PA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Erie, PA, is $186,776.00, with the most expensive house in Erie, PA, topping out at $5,000,000.00 and the cheapest home in Erie, PA, clocking in at $11,200.00. In other words, there’s something for every potential homebuyer or savvy investor in Erie, PA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Erie, PA, is on a rollercoaster ride. The average rent price in Erie, PA, is $1,183.00. Indeed, when looking to rent in Erie, PA, you can expect to pay as little as $460.00 or as much as $3,200.00, with the average rent median estimated to be $1,120.00. The good news is that finding an affordable and desirable property to rent in Erie, PA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
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