Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$295,625+3.4% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 13% have cut their price
Income needed to buy, per year$64,085About 0.9× the local median income ($73,040): affordable for a typical household
Days on market42 daysAbout the same pace as a year ago
Next 12 months+2.6%Zillow expects prices to rise slightly
The typical home in Erie County, NY is worth $295,625, up 3.4% from a year ago. That is well above what local incomes have historically supported: fair value is about $240,233, so the area is 23.1% overvalued. It is a balanced market: homes take about 42 days to sell, listings are up 34% from a year ago, 13% of listings have had a price cut. Zillow expects prices to rise about 2.6% over the next year. A household needs about $64,085 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,040. Typical rent is $1,480 a month, or $1,951 for a house. In the latest IRS figures, 3,425 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$295,625
Change in 1 year
+3.4%
Overvalued %
+23.1%
Show 7 more
Fair home value
$240,233
Change in 5 years
+31.3%
Zillow forecast, next 12 months
+2.6%
Home value to income
4.0×
Monthly mortgage payment (20% down)
$1,602
Income needed to afford it
$64,085
Property tax rate
1.98%
Rent and investing
Typical rent
$1,480
Typical rent for houses
$1,951
Price-to-rent ratio
16.7×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,423
Gross rental yield
6.01%
Cap rate (estimate)
3.90%
Market activity
Listings vs a year ago
+34.2%
Days on market
42
Listings with a price cut
12.9%
Show 3 more
Homes for sale
1,529
Pending sales per 100 listings
110
Asking price per sq ft
$191
People and jobs
Median household income
$73,040
Population change (1 year)
−0.1%
Unemployment rate
4.9%
Show 4 more
Population
946,741
Income adjusted for cost of living
$76,242
Net moves in (IRS)
−3,425
Cost of living (US = 100)
95.8
Schools, risk and environment
School rating (1 to 10)
5.1
FEMA hazard risk score (0 to 100)
97.7
Unhealthy air days a year
11
Show 4 more
Flood risk score
99.0
Wildfire risk score
62.6
Walkability (1 to 20)
11.0
Road, rail and air noise
53 dB
Questions people ask
Is Erie County, NY overvalued?
Home prices in Erie County, NY are well above what local incomes have historically supported: fair value is about $240,233, so the area is 23.1% overvalued.
Is Erie County, NY a buyer's or seller's market?
Erie County, NY is a balanced market: homes take about 42 days to sell, listings are up 34% from a year ago, 13% of listings have had a price cut.
Are home prices going down in Erie County, NY?
Home values in Erie County, NY are up 3.4% over the last year. Zillow's forecast for the next 12 months is +2.6%.
How much do you need to earn to buy a home in Erie County, NY?
A household needs about $64,085 a year to afford the typical home in Erie County, NY at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,040.