Cities with the fastest growing home prices in Erie metro area

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August 23, 2022
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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 not 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 August 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. All 9 cities and towns with data available were included in the list.

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1 / 9
Stacker

#9. Corry, Pennsylvania

- 1-year price change: +$8,853 (+7.6%)
- 5-year price change: +$35,947 (+40.5%)
- Typical home value: $124,749 (#9 most expensive city in metro)
2 / 9
Stacker

#8. Union City, Pennsylvania

- 1-year price change: +$16,216 (+12.9%)
- 5-year price change: +$33,564 (+31.0%)
- Typical home value: $141,800 (#8 most expensive city in metro)
3 / 9
Stacker

#7. Albion, Pennsylvania

- 1-year price change: +$18,050 (+12.5%)
- 5-year price change: +$48,969 (+43.3%)
- Typical home value: $162,174 (#7 most expensive city in metro)
4 / 9
Stacker

#6. Lake City, Pennsylvania

- 1-year price change: +$18,084 (+11.3%)
- 5-year price change: +$58,175 (+48.5%)
- Typical home value: $178,058 (#5 most expensive city in metro)
5 / 9
Stacker

#5. Erie, Pennsylvania

- 1-year price change: +$20,876 (+14.4%)
- 5-year price change: +$52,705 (+46.6%)
- Typical home value: $165,775 (#6 most expensive city in metro)

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6 / 9
Stacker

#4. Cranesville, Pennsylvania

- 1-year price change: +$22,936 (+13.5%)
- 5-year price change: +$22,150 (+13.0%)
- Typical home value: $192,292 (#4 most expensive city in metro)
7 / 9
Stacker

#3. Edinboro, Pennsylvania

- 1-year price change: +$24,300 (+10.9%)
- 5-year price change: +$66,845 (+36.9%)
- Typical home value: $248,210 (#2 most expensive city in metro)
8 / 9
Stacker

#2. Mc Kean, Pennsylvania

- 1-year price change: +$24,386 (+10.4%)
- 5-year price change: +$80,162 (+45.0%)
- Typical home value: $258,148 (#1 most expensive city in metro)
9 / 9
Stacker

#1. Wattsburg, Pennsylvania

- 1-year price change: +$25,757 (+12.4%)
- 5-year price change: +$63,964 (+37.6%)
- Typical home value: $234,162 (#3 most expensive city in metro)

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