How much house does $500,000 buy you in Erie?
Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000.
These current prices have put homeownership out of reach for many – and things don't look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.
While $500,000 once stretched much further, in many cities today, it's not nearly enough. But what about Erie?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Erie right now. Listings below $500,000 were included if necessary.
942 Brown Ave, Erie, PA 16502
- Price: $450,000
- 6 bedrooms, 3 bathrooms
- Square feet: 2,896
- See 942 Brown Ave, Erie, PA 16502 on Redfin.com
1173 Greenfield Dr, Erie, PA 16509
- Price: $444,000
- 5 bedrooms, 3 bathrooms
- Square feet: 3,184
- See 1173 Greenfield Dr, Erie, PA 16509 on Redfin.com
5575 Williams Rd, North East, PA 16428
- Price: $450,000
- 4 bedrooms, 4 bathrooms
- Square feet: 3,722
- See 5575 Williams Rd, North East, PA 16428 on Redfin.com
5413 W 54Th St, Fairview, PA 16415
- Price: $499,000
- 4 bedrooms, 4 bathrooms
- Square feet: 2,634
- See 5413 W 54Th St, Fairview, PA 16415 on Redfin.com
4903 Grouse Holw Dr, Erie, PA 16504
- Price: $462,900
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,143
- See 4903 Grouse Holw Dr, Erie, PA 16504 on Redfin.com
2833 Contessa Ln, Erie, PA 16506
- Price: $400,000
- 4 bedrooms, 3 bathrooms
- Square feet: 3,222
- See 2833 Contessa Ln, Erie, PA 16506 on Redfin.com
4335 E Lake Rd, Erie, PA 16511
- Price: $412,000
- 4 bedrooms, 3 bathrooms
- Square feet: 1,442
- See 4335 E Lake Rd, Erie, PA 16511 on Redfin.com
5700 Swanville Rd, Erie, PA 16506
- Price: $434,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,726
- See 5700 Swanville Rd, Erie, PA 16506 on Redfin.com
3114 Contessa Ln, Erie, PA 16506
- Price: $489,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,465
- See 3114 Contessa Ln, Erie, PA 16506 on Redfin.com
2195 Foxboro Ct, Erie, PA 16510
- Price: $409,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,134
- See 2195 Foxboro Ct, Erie, PA 16510 on Redfin.com
122 Terrace Dr, Edinboro, PA 16412
- Price: $427,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,110
- See 122 Terrace Dr, Edinboro, PA 16412 on Redfin.com
14300 Mount Pleasant Rd, Cambridge Springs, PA 16403
- Price: $475,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,358
- See 14300 Mount Pleasant Rd, Cambridge Springs, PA 16403 on Redfin.com
819 Chestnut St, Waterford, PA 16441
- Price: $399,900
- 4 bedrooms, 1.5 bathrooms
- Square feet: 1,859
- See 819 Chestnut St, Waterford, PA 16441 on Redfin.com
5499 Pinetree Rd, Mc Kean, PA 16426
- Price: $399,900
- 4 bedrooms, 1 bathroom
- Square feet: 2,100
- See 5499 Pinetree Rd, Mc Kean, PA 16426 on Redfin.com
525 Benson Rd, Waterford, PA 16441
- Price: $439,900
- 3 bedrooms, 3 bathrooms
- Square feet: 1,978
- See 525 Benson Rd, Waterford, PA 16441 on Redfin.com
2635 Saddlewood Dr, Waterford, PA 16441
- Price: $395,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,941
- See 2635 Saddlewood Dr, Waterford, PA 16441 on Redfin.com
6160 Meadowland Cir, Erie, PA 16509
- Price: $435,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,791
- See 6160 Meadowland Cir, Erie, PA 16509 on Redfin.com
6595 Meadowland Cir, Erie, PA 16509
- Price: $497,500
- 3 bedrooms, 3 bathrooms
- Square feet: 1,786
- See 6595 Meadowland Cir, Erie, PA 16509 on Redfin.com
2695 Saddlewood Dr, Waterford, PA 16441
- Price: $419,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,656
- See 2695 Saddlewood Dr, Waterford, PA 16441 on Redfin.com
8410 Windsor Beach Ct, Erie, PA 16511
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,632
- See 8410 Windsor Beach Ct, Erie, PA 16511 on Redfin.com
6965 Jefferson Ct, Fairview, PA 16415
- Price: $495,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,853
- See 6965 Jefferson Ct, Fairview, PA 16415 on Redfin.com
607 Lakeside Dr, Edinboro, PA 16412
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,003
- See 607 Lakeside Dr, Edinboro, PA 16412 on Redfin.com
7591 Crane Rd, Edinboro, PA 16412
- Price: $397,900
- 3 bedrooms, 1 bathroom
- Square feet: 2,484
- See 7591 Crane Rd, Edinboro, PA 16412 on Redfin.com
10707 Wattsburg Rd, Erie, PA 16509
- Price: $425,000
- 3 bedrooms, 1 bathroom
- Square feet: 1,854
- See 10707 Wattsburg Rd, Erie, PA 16509 on Redfin.com
3254 Route 6N, Edinboro, PA 16412
- Price: $439,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,824
- See 3254 Route 6N, Edinboro, PA 16412 on Redfin.com
2007 Chatham Dr, Fairview, PA 16415
- Price: $399,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,719
- See 2007 Chatham Dr, Fairview, PA 16415 on Redfin.com
107 Jefferson St, North East, PA 16428
- Price: $425,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,636
- See 107 Jefferson St, North East, PA 16428 on Redfin.com
10620 N Edgewood Dr, Lake City, PA 16423
- Price: $450,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,533
- See 10620 N Edgewood Dr, Lake City, PA 16423 on Redfin.com
2535 Saddlewood Dr, Waterford, PA 16441
- Price: $429,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,431
- See 2535 Saddlewood Dr, Waterford, PA 16441 on Redfin.com
