Median Home PriceBETTER
$211,721.11
Median RentBETTER
$1,046.5/mo
Price-to-Rent RatioBETTER
16.9
Property Tax RateTIE
1.54%
Price Change (1Y)BETTER
+6.4%
Price Change (5Y)BETTER
+32.2%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$34,583
Median Home Price
$372,150.62
Median Rent
$1,454.9/mo
Price-to-Rent Ratio
21.3
Property Tax RateTIE
1.54%
Price Change (1Y)
+4.2%
Price Change (5Y)
+21.0%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$206,302
Key Differences
Home Prices
Erie's median home price of $211,721.11 is lower than Lancaster's $372,150.62 by 43%.
Monthly Rent
Renting in Erie costs $1,046.5/mo compared to $1,454.9/mo in Lancaster—a difference of $408.4/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.