Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$240,422+3.4% YoY · prices are rising fast
Market right nowBalanced, leaning buyersMore homes for sale than last year, 24% have cut their price
Income needed to buy, per year$52,119About 0.7× the local median income ($72,400): affordable for a typical household
Days on market53 daysAbout the same pace as a year ago
Next 12 months+4.2%Zillow expects prices to rise strongly
The typical home in Erie County, OH is worth $240,422, up 3.4% from a year ago. That is well above what local incomes have historically supported: fair value is about $216,195, so the area is 11.2% overvalued. It is a balanced market, leaning toward buyers: homes take about 53 days to sell, listings are up 32% from a year ago, 24% of listings have had a price cut. Zillow expects prices to rise about 4.2% over the next year. A household needs about $52,119 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 $72,400. Typical rent is $1,812 a month, or $1,897 for a house. In the latest IRS figures, 120 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
$240,422
Change in 1 year
+3.4%
Overvalued %
+11.2%
Show 7 more
Fair home value
$216,195
Change in 5 years
+33.0%
Zillow forecast, next 12 months
+4.2%
Home value to income
3.3×
Monthly mortgage payment (20% down)
$1,303
Income needed to afford it
$52,119
Property tax rate
1.22%
Rent and investing
Typical rent
$1,812
Typical rent for houses
$1,897
Price-to-rent ratio
11.1×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,221
Gross rental yield
9.04%
Cap rate (estimate)
5.88%
Market activity
Listings vs a year ago
+31.7%
Days on market
53
Listings with a price cut
24.4%
Show 3 more
Homes for sale
245
Pending sales per 100 listings
52
Asking price per sq ft
$185
People and jobs
Median household income
$72,400
Population change (1 year)
−0.5%
Unemployment rate
5.3%
Show 4 more
Population
73,296
Income adjusted for cost of living
$81,075
Net moves in (IRS)
−120
Cost of living (US = 100)
89.3
Schools, risk and environment
School rating (1 to 10)
5.9
FEMA hazard risk score (0 to 100)
61.4
Flood risk score
71.8
Show 3 more
Wildfire risk score
23.0
Walkability (1 to 20)
9.0
Road, rail and air noise
52 dB
Questions people ask
Is Erie County, OH overvalued?
Home prices in Erie County, OH are well above what local incomes have historically supported: fair value is about $216,195, so the area is 11.2% overvalued.
Is Erie County, OH a buyer's or seller's market?
Erie County, OH is a balanced market, leaning toward buyers: homes take about 53 days to sell, listings are up 32% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Erie County, OH?
Home values in Erie County, OH are up 3.4% over the last year. Zillow's forecast for the next 12 months is +4.2%.
How much do you need to earn to buy a home in Erie County, OH?
A household needs about $52,119 a year to afford the typical home in Erie County, OH at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $72,400.