Real Estate Investing in Erie, Pennsylvania (16510)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 16510 (Erie, PA)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Erie, PA (16510)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 16510 Erie
Looking more closely, ZIP 16510 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $212K median. It rewards specialists, not generalists.
For an experienced owner, 16510 can be a a credible choice for hunting ground — but the discount at $212K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Erie have seen price recovery that 16510 has not matched. Erie County data supports the view that the spread is structural rather than temporary.
The 16510 ZIP's population of 25,152 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
Experienced landlords with local relationships tend to find 16510 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Erie:
Property Strategy for 16510
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $113,739 | $950 | 6.0% | +8.4% | $113,739 |
| 2BR | $145,622 | $1,220 | 6.0% | +9.4% | $72,811 |
| 3BR | $196,487 | $1,510 | 5.5% | +8.5% | $65,496 |
| 4BR | $267,427 | $1,690 | 4.6% | +9.0% | $66,857 |
| 5BR | $291,572 | — | — | +9.2% | $58,314 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 16510 Compare?
| Metric | 16510 | Erie | Erie, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $211,987 | $90,364 | N/A | $278,018 |
| 5-Year CAGR | 7.6% | 8.4% | N/A | 6.3% |
| Avg Rent | $1,144 | $1,123 | N/A | - |
| Cap Rate | 4.2% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 16510 (Erie, PA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $211,987 |
| Monthly Rent | $1,144 |
| Price-to-Rent | 15.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +9.6% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +7.6% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 16510
Population: 25,152
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 16510
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the median home value in Erie, PA?
Median home price in Erie, PA is near $212K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
Where do rents currently stand in Erie, PA?
Rents in Erie, PA run near $1,144/mo. Compared with median home prices of $212K that produces solid gross yields for typical rentals.
What is the renter demographic in Erie, PA?
Expect a solid tenant pool in Erie, PA. The rental market absorbs $1,144/mo rents without meaningful friction.
Are eviction rules reasonable in Erie, PA?
The landlord environment in Erie, PA is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Should investors consider Erie, PA?
Investors tracking Erie, PA will find a 3.0/5 rating supported by $212K median home values and $1,144/mo rents. That profile suits long-term holders targeting predictable returns.
You know 16510 now. You don’t know where it ranks.
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How 16510 ranks in Erie, PA
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