16508, Erie, PA

Home equity is the difference between the market value of a home and the amount of money owed on that home. In Erie, PA, home equity averaged $128,000 in 2016. This means that homeowners in this zip code had more than 12% of their total net worth invested in their homes. This percentage is above the national average of 7%.

The average price of a home in Erie was $137,500 in 2016. This means that homeowners in this zip code earned an average annual return on their home equity investment of 3%. This percentage is below the national average but still higher than most other zip codes in Pennsylvania.

Home prices have been rising steadily throughout Erie over the past few years. The rate of growth has been slower than it has been nationally, but it is still outpacing most other areas of Pennsylvania. It seems likely that this trend will continue for at least another year or two.