Erie, PA Rental Market
Erie is Pennsylvania's only Great Lakes port city and the fourth-largest in the state. A legacy manufacturing and maritime economy — anchored by the Port of Erie, GE Transportation (now Wabtec), and a healthcare sector centered on UPMC Hamot and Saint Vincent Hospital — provides baseline employment. Erie is one of the most affordable rental markets in the entire Northeast, with a median home value near $130,000 that delivers one of the highest gross yields in Pennsylvania. Mercyhurst University and Gannon University add student demand, but the market is best suited for patient, cash-flow-focused investors.
Get a rent estimate for an address in ErieAverage Rent in Erie, PA
$880
per month · 2026-06
Market Score
Key Facts — Erie, PA Rental Market
- Average rent in Erie, PA:$880/mo
- Median rent:$810/mo
- Rent range:$450 – $1,950/mo
- Most common rental (2 bedrooms):$775/mo
- Active listings:520
- Avg days to lease:40 days
- Year-over-year change:+2.0%
- Median home value:$130,000
- Est. gross annual yield:8.1%
- Data as of:2026-06
Rent by Bedroom in Erie, PA
Average monthly rent for each bedroom type based on current active listings in Erie.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $625/mo |
2 Bedrooms | $775/mo |
3 Bedrooms | $975/mo |
4 Bedrooms | $1,225/mo |
5 Bedrooms | $1,400/mo |
Erie Rental Market Statistics
Key indicators from the current Erie, PA rental market.
520
Available now in Erie
40
From list to lease
$0.70
Average across listings
1,250 sq ft
Typical rental size
$450 – $1,950
Min to max active listings
+2.0%
Avg rent vs. prior year
Investing in Erie, PA Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$130,000
Typical purchase price in Erie
Est. Gross Annual Yield
8.1%
Before expenses & vacancy
Avg Monthly Income
$880
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Erie for a full cash-flow breakdown including all costs.
Erie, PA Rental Market FAQ
Common questions about renting and investing in Erie, PA.
What is the average rent in Erie, PA?
The average rent in Erie, PA is $880 per month as of 2026. One-bedroom units average $625/mo, two-bedrooms average $775/mo, and three-bedroom homes average $975/mo — among the lowest rents of any mid-size city in the Northeast. Erie's exceptional affordability makes it a high-yield but slower-growth market.
Is Erie, PA a good place to invest in rental property?
Erie offers an estimated 8.1% gross annual yield — the highest in our Pennsylvania coverage — driven by a very low median home value near $130,000. The market is best suited for cash-flow-focused investors who are comfortable with modest rent growth and a smaller, slower-moving market. Due diligence on neighborhood selection and property condition is critical in Erie.
What are the main sources of rental demand in Erie, PA?
Erie's rental demand comes from healthcare workers at UPMC Hamot and Saint Vincent Hospital, manufacturing and logistics employees at Wabtec (formerly GE Transportation) and the Port of Erie, and students at Mercyhurst University, Gannon University, and Penn State Behrend. The market is small relative to Pittsburgh and Philadelphia, so vacancy management requires careful attention to tenant screening and pricing.
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