Erie County, New York Housing Market Prices
Erie County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 64% below the New York median$170,710
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Median rent 33% below the New York median$1,089
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Erie County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,710 | $471,885 | $248,835 |
| Price Trend (Annual %) | 9.2% | 7.1% | 7.5% |
| Median Gross Rent | $1,089 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 4.8% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Erie County is about 64% lower than in New York. Rent is about 33% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Erie County, up about 9.2% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Erie County rose about 47.6% between 2015 and 2024, from $738 to $1,089. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Erie County.
Buying the median-priced home in Erie County costs roughly 13.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Erie County. The price-to-rent ratio in New York is about 24.3.
| Metric | Erie County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,710 | $471,885 | $248,835 |
| Median Household Income | $72,896 | $86,556 | $80,455 |
| Price-to-Income Ratio | 2.3 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Erie County rose about 100.0%, while median household income rose about 52.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Erie County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.2% | 48.8% | 58.5% |
| Rental Rate | 31.7% | 41.1% | 31.2% |
| Vacancy Rate | 7.1% | 10.1% | 10.2% |
| Median Tenure (years) | 17.0 | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2009 | 2011 |
Erie County has a homeownership rate of 61.2%, higher than the New York average of 48.8%. Its housing vacancy rate is 7.1%, compared with 10.1% in New York.
Housing Stock
| Metric | Erie County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1961 | 1960 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Erie County was built around 1961. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Erie County, NY Housing Compared With Nearby Counties
Erie County, NY is the largest of the 6 counties compared here, 948,176 residents against a local median of 76,141. Erie County, NY's median home price, at $170,710, runs 43% above the $119,155 typical of the counties around it.
Median rent tells the same story from another angle: $1,089 against a local median of $812, 34% above it. The counties themselves spread $496,187 on median home price, so Erie County, NY sits at one end of an already wide local range rather than apart from it. Erie County, NY has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Erie County, NY | 948,176 | $170,710 #2/6 | $1,089 #1/6 | 65.9% #6/6 |
| Cattaraugus County, NY | 76,141 | $101,562 | $770 | 75.2% |
| Wyoming County, NY | 39,775 | $571,081 | $802 | 75.9% |
| Niagara County, NY | 210,721 | $119,155 | $898 | 71.2% |
| Genesee County, NY | 57,790 | $74,894 | $929 | 73.8% |
| Chautauqua County, NY | 125,543 | $122,905 | $812 | 68.9% |
Frequently Asked Questions
Common questions about the housing market in Erie County, New York.
What is the median home price in Erie County, New York?
The median home price in Erie County, New York is $170,710, lower than the New York average of $471,885.
What is the average home price in Erie County, New York?
The typical home price in Erie County, New York, reported as the median sale price, is $170,710. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Erie County, New York?
The median gross rent in Erie County, New York is $1,089 per month, lower than the New York average of $1,621.
What was the median gross rent in Erie County in 2020?
In 2020, the median gross rent in Erie County, New York was $852 per month.
What is the price-to-rent ratio in Erie County, New York?
The price-to-rent ratio in Erie County, New York is about 13.1, meaning it would take roughly 13.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Erie County.
Are home prices or rent rising faster in Erie County, New York?
Both home prices and rent are rising in Erie County, up about 9.2% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Erie County, New York?
61.2% of households in Erie County, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Erie County, New York?
The housing vacancy rate in Erie County, New York is 7.1%, lower than the New York average of 10.1%.
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