Median Home PriceBETTER
$211,721.11
Median RentBETTER
$1,046.5/mo
Price-to-Rent Ratio
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 Difference
$34,583
Median Home Price
$228,588.5
Median Rent
$1,703.54/mo
Price-to-Rent RatioBETTER
11.2
Property Tax RateTIE
1.54%
Price Change (1Y)
+2.8%
Price Change (5Y)
+14.0%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$14,873
Key Differences
Home Prices
Erie's median home price of $211,721.11 is lower than Philadelphia's $228,588.5 by 7%.
Monthly Rent
Renting in Erie costs $1,046.5/mo compared to $1,703.54/mo in Philadelphia—a difference of $657.04/mo.
Buy vs Rent Verdict
Erie favors renting, while Philadelphia favors either option.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.