16505, Erie, PA

The 16505 zip code of Erie, PA has a median home value of $137,000 and a median home equity value of $111,000. The zip code ranks #1 in the state for both home values. This is likely due to the high demand for housing in Erie and the surrounding areas.

There are a number of factors that contribute to the high home values in this zip code. First, Erie is a desirable location with plenty of job opportunities. Second, there is strong demand for housing due to the population growth in the area. Third, homeowners in this zip code have been able to keep their homes relatively affordable over the past few years by making smart investments such as upgrading their roofs or adding insulation.

Despite these positive factors, there are some challenges facing homeowners in this zip code. One issue is that prices have risen faster than wages over the past few years which has made it harder for people to afford homes on their own. Additionally, there is a limited supply of available homes which has driven up prices even further. While these issues will likely continue to affect homeowners in this zip code for some time to come, they are still worth keeping an eye on if you are looking to buy or sell property in Erie