Cities with the fastest growing home prices in Erie metro area

Written by:
January 19, 2023
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Cities with the fastest growing home prices in Erie metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Erie, PA metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. All 9 cities and towns with data available were included in the list.

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1 / 9
Stacker

#9. Corry, PA

- 1-year price change: +$4,889 (+4.0%)
- 5-year price change: +$33,290 (+36.1%)
- Typical home value: $125,621 (#9 most expensive city in metro)
2 / 9
Stacker

#8. Union City, PA

- 1-year price change: +$5,919 (+4.4%)
- 5-year price change: +$26,010 (+23.0%)
- Typical home value: $139,070 (#8 most expensive city in metro)
3 / 9
Stacker

#7. Wattsburg, PA

- 1-year price change: +$16,410 (+7.6%)
- 5-year price change: +$60,585 (+35.4%)
- Typical home value: $231,882 (#3 most expensive city in metro)
4 / 9
Stacker

#6. Albion, PA

- 1-year price change: +$18,065 (+12.4%)
- 5-year price change: +$49,234 (+42.9%)
- Typical home value: $164,044 (#7 most expensive city in metro)
5 / 9
Stacker

#5. Lake City, PA

- 1-year price change: +$20,810 (+12.5%)
- 5-year price change: +$63,232 (+51.2%)
- Typical home value: $186,728 (#5 most expensive city in metro)

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6 / 9
Stacker

#4. Edinboro, PA

- 1-year price change: +$21,117 (+9.2%)
- 5-year price change: +$70,147 (+38.8%)
- Typical home value: $250,875 (#2 most expensive city in metro)
7 / 9
Stacker

#3. Erie, PA

- 1-year price change: +$21,150 (+14.2%)
- 5-year price change: +$56,963 (+50.5%)
- Typical home value: $169,687 (#6 most expensive city in metro)
8 / 9
Stacker

#2. Cranesville, PA

- 1-year price change: +$21,180 (+12.1%)
- 5-year price change: +$13,756 (+7.6%)
- Typical home value: $195,590 (#4 most expensive city in metro)
9 / 9
Stacker

#1. Mc Kean, PA

- 1-year price change: +$22,513 (+9.4%)
- 5-year price change: +$86,393 (+49.5%)
- Typical home value: $260,763 (#1 most expensive city in metro)

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