Erie, PA Homes For Sale - Pennsylvania Real Estate | BEX Realty (2024)

FAQs

Is Erie PA a cheap place to live? ›

The cost of living in Erie, PA is 8% lower than the state average and 12% lower than the national average. Erie, PA housing is 44% cheaper than the U.S average, while utilities are about 8% pricier.

It's a Smart Investment

Many people considering whether or not to buy a house in Erie aren't planning to make it their primary home. For those of you looking for a wise investment, you might just find it here. Data from Mashvisor shows a particularly healthy cash-on-cash return for properties in Erie.

Erie is Perfect for Families

Erie is rated as one of the best places to live in Pennsylvania due to its low cost of living, family friendliness, and highly-regarded grade school options. Erie's cost of living is surprisingly affordable for being a waterfront city and county.

— Welcome Western New York to "The Cabin," a 16,975 square foot home in South Wales that can be yours for an Erie County record $14.5 million. The home sits on 180 acres of land, comes with a four-acre private lake, an indoor basketball court, 26 horse stables, an indoor equestrian arena, and much more.

The per capita income in Erie in 2018 was $25,090, which is low income relative to Pennsylvania, and lower middle income relative to the rest of the US. This equates to an annual income of $100,360 for a family of four. However, Erie contains both very wealthy and poor people as well.

2. People without capital. While there are ways around cash on hand when you're looking for money for a down payment, including a HELOC loan or down payment assistance, investing in real estate without capital is not the best idea. It can put individuals in a precarious financial situation if anything were to go wrong.

The current Pennsylvania real estate market statistics reflect the national trend of high demand and low supply. Home sales and property prices in Pennsylvania increased despite 2023's slow market.

Hampden Township is the safest city in Pennsylvania, thanks to it's low property crime rate of 2.9 incidents per 1,000 people. Every safest city reported less than 1 violent crime per 1000 people. Shaler Township reported the fewest violent crimes, with 8 reported.

What is the best part of Pennsylvania to live in? ›

The Hagen File: Erie's Hagen is the chairman of publicly-traded insurance company, Erie Indemnity, and has been a part of the company for more than 50 years. He is currently 898th in the world in Forbes' real-time net worth rankings.

Explore Erie, PA

There are 31 neighborhoods in Erie. Southeast Erie has a median listing home price of $145K, making it the most expensive neighborhood. Central Eastside is the most affordable neighborhood, with a median listing home price of $68.5K.

State College

Expecting Philadelphia to be here? Not this year. As of 2020, State College is the most expensive area to live in Pennsylvania. Home to the main campus of Pennsylvania State University, this rural borough's identity, economy, and history are closely tied to the school.

Many areas in Pennsylvania offer very affordable home and rent prices. Lancaster, York, and Pittsburgh are among the cities that have the lowest cost of living.

Sandusky, Ohio is a city with million-dollar water views and a whole lot of $100,000 houses. With a median family income of $64,000 and median home selling price of $76,000, this city on Lake Erie, midway between Cleveland and Toledo, could be the most affordable housing market in the country.