Housing affordability · NY · 2024
Erie Housing Affordability
41st most affordable of 62 New York counties · price-to-income ratio
Erie at a glance
Erie is among the more accessible housing markets in New York on both ownership and rental measures — home prices relative to income sit below the state median at 3.2×, and renters face a lower-than-average cost burden.
At Erie's median household income of $72,839, a renter paying the median monthly rent of $1,090 would commit 18% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
For owner-occupied households, 12% spend more than 30% of their income on housing costs — the standard definition of owner cost burden.
Erie FAQ
What is the median home price in Erie?
The median home value in Erie, NY is $233,800 (2024 ACS 5-year estimate). This is 45% below the New York state median of $423,800.
Is Erie an affordable place to buy a home?
Erie is rated Affordable on the USInsights affordability scale. The price-to-income ratio is 3.2×, meaning the median home costs roughly 3.2 years of median household income ($72,839). Under 3.5× is generally considered affordable.
What is the average rent in Erie?
The median gross rent in Erie is $1,090 per month (2024 ACS 5-year estimate). 47% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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