Erie County Real Estate and Livability Trends
Erie County, Pennsylvania's real estate market has seen a 35.52% increase in median home values from $118,200 in 2015 to $160,200 in 2022, positioning it as a more affordable option compared to broader trends. Economic indicators like rising average taxable income and elevated real estate taxes imply a robust and growing market. The county's focus on energy-efficient upgrades, as reflected in... Read more
Erie County Market Trends
Erie County, Pennsylvania's real estate market has seen a 35.52% increase in median home values from $118,200 in 2015 to $160,200 in 2022, making it a relatively affordable option compared to state and national trends. Notable spikes in Residential Energy Tax Credits, particularly in 2018, suggest significant investments in energy-efficient home upgrades. The average real estate taxes per return... Read more
Median Value of Occupied Housing Units in Erie County, Pennsylvania Over the Last 8 Years
The median home values in Erie County, Pennsylvania have shown steady, consistent growth over the past eight years, climbing from $118,200 in 2015 to $160,200 in 2022. This represents a 35.52 percent increase, a trend that's pace is modest compared to the state of Pennsylvania, which saw a rise from $166,000 to $226,200 in the same period. Nationally, housing values moved up from $125,500 to $179,400 in these eight years, showing a similar proportion of increase. For investors and those looking to move to the region, Erie County offers potentially more affordable housing options with appreciable growth, though not as steep as state or national averages, possibly indicating a less volatile market.
Residential Energy Tax Credit Per Tax Return in Erie County, PA Over the Last 9 Years
Erie County, Pennsylvania has seen significant fluctuations in the average Residential Energy Tax Credit per tax return over the past nine years. After a steady increase from $255.12 in 2013 to $292.53 in 2016, 2017 witnessed a notable jump to $377.88. The most striking change occurred in 2018, skyrocketing to $1,666.67, suggesting a possible surge in energy-efficient home upgrades or policy adjustments that year. This spike was followed by a drop to $609.93 in 2019, with the credit stabilizing somewhat at $633.33 by 2021. Investors and property developers may find these trends indicative of increasing homeowner investment in energy efficiency, while appraisers and insurance agents might need to consider the potential impact on property valuations and risk assessments.
Average Real Estate Taxes Per Tax Return in Erie County, PA Over the Last 10 Years
Over the last decade, Erie County, Pennsylvania has seen a notable upward trend in average real estate taxes per tax return, increasing from approximately $3,877.60 in 2012 to around $6,848.15 in 2021. This significant rise, particularly evident from 2017 onward, suggests a local property market that may be progressively valuing higher as time goes on. For real estate investors, this trend could hint at a potential for increased property values and related taxation. Prospective homeowners and appraisers should consider these rising taxes when evaluating long-term affordability and investment potential in the region.
Percentage of Farm Returns in Erie County, PA Over the Last 10 Years
Over the past 10 years, the percentage of farm tax returns in Erie County, Pennsylvania has largely remained stable, hovering around 0.68% with a slight dip to approximately 0.59% in 2020 before recovering slightly in 2021. Farm tax returns refer to the filings made by agricultural businesses, indicating local farming activity levels. This stability suggests a steady, though small, farming presence, which could be important for those considering investments in rural properties or agricultural ventures. Those looking to move or build property in Erie County might note the consistency in agricultural activity as an indicator of the area's economic stability in that sector.
Number of Mortgages by Occupancy Type in Erie County, PA Over the Last 5 Years in Erie County
The data for Erie County, Pennsylvania, demonstrates notable fluctuations in the number of mortgages for principal residences, with peaks in 2020 and 2021, likely influenced by economic factors or market conditions. Investment properties and second residences show relatively stable but lower figures, indicating a focus on long-term personal use over speculative or vacation purposes. These trends are crucial for investors, appraisers, and insurance agents, as they reflect the community's housing stability and market dynamics. Builders and real estate professionals might find opportunities in catering to the principal residence market, whereas those interested in second homes or investment properties should consider the steadiness in these segments.
Economic Outlook
Over the past decade, Erie County, Pennsylvania has seen a consistent rise in average taxable income, from $49,302.04 in 2013 to $66,435.96 by 2021, suggesting better economic conditions. Notably, state and local income taxes have surged, jumping significantly between 2017 and 2018. These trends could attract investors and developers due to indications of a more prosperous and stable market, potential demand for housing, and implications for property values and insurance premiums. Understanding... Read more
Average Taxable Income per Tax Return in Erie County, PA over the last 9 years
Over the past nine years, Erie County, Pennsylvania has seen a steady increase in average taxable income per tax return, starting at $49,302.04 in 2013 and reaching $66,435.96 by 2021. This consistent growth, despite a slight dip in 2020, likely points to improved economic conditions or income growth in the region. This trend could be appealing for investors and real estate agents as higher incomes typically indicate a more prosperous and stable market. Builders and developers might also find this encouraging when considering the potential demand for new housing projects. For appraisers and insurance agents, this upward trend in income could translate to higher property values and potential changes in insurance premiums.
Average State and Local Income Taxes Per Tax Return in Erie County, PA Over the Last 10 Years
Erie County, Pennsylvania has seen a significant rise in average state and local income taxes per tax return over the past decade. From $5,261.64 in 2012, the average surged to $13,071.70 by 2021. The most notable jump occurred between 2017 and 2018, going from $6,121.98 to $9,520.00, indicating changes in local tax policy or economic conditions. This data is particularly relevant for potential investors, property developers, and residents who may want to understand the tax landscape, as it impacts both the cost of living and the financial planning necessary for home ownership or business investment in the area.
Average Total Tax Liability Per Tax Return in Erie County, PA Over the Last 10 Years
Over the last decade, Erie County, Pennsylvania has experienced notable fluctuations in average total tax liability per return. Starting at $8,440.33 in 2012, there was a dip in 2013, followed by a gradual increase, peaking sharply in 2019 at $10,157.88. A significant rise is observed in 2021, reaching $10,625.66. These variations, possibly influenced by local economic conditions or policy changes, offer critical insights for investors, real estate professionals, and residents assessing the financial landscape in Erie County.
Cost of Living in Erie County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,174 | $1,508 | $1,289 | $1,977 | $1,176 |
| 1 adult 4 children | $1,174 | $1,232 | $988 | $1,977 | $1,301 |
| 2 adults 3 children | $1,174 | $1,232 | $1,118 | $1,977 | $987 |
| 1 adult 3 children | $1,174 | $1,006 | $817 | $1,977 | $1,092 |
| 2 adults 2 children | $947 | $1,008 | $946 | $1,717 | $864 |
| 1 adult 2 children | $947 | $753 | $645 | $1,717 | $850 |
| 2 adults 1 child | $947 | $797 | $774 | $871 | $747 |
| 1 adult 1 child | $947 | $515 | $473 | $871 | $634 |
| 2 adults | $731 | $640 | $602 | $0 | $553 |
| 1 adult | $703 | $349 | $301 | $0 | $485 |
Safety trends & Data
Erie County, Pennsylvania has experienced significant shifts in property crime trends over the past five years. Larceny-theft peaked in 2018 at 1,122 incidents and plummeted to 336 in 2020, while burglary saw a high of 120 cases in 2019, dropping to 26 in 2021, and then rising in 2022. These fluctuations may be particularly relevant for those evaluating property investments or insurance risks, as they hint at evolving community safety dynamics that could influence property values. Fraud cases... Read more
Property Crime Trends in Erie County, PA Over the Last 5 Years
Over the past five years, Erie County, Pennsylvania has seen some fluctuations in property crime trends. Larceny-theft remains the most common offense, though it peaked in 2018 at 1,122 incidents and hit a low in 2020 with just 336 incidents, possibly indicating a trend worth watching for those considering property investments or insurance underwriting. Burglary also varied, hitting a high of 120 occurrences in 2019, but dropping significantly in 2021 to just 26, before rising again in 2022. Motor vehicle theft and vandalism show moderate fluctuations but nothing dramatically alarming. Interestingly, fraud cases dipped noticeably in 2020 but began to creep back up by 2022. These changes could be relevant for real estate agents and appraisers as they reflect on community safety and the potential impacts on property values.
Demographics
Erie County, Pennsylvania, sees a slight female majority in its adult population and a varied age distribution with significant representation in the 25-64 age brackets. Educationally, high school graduates form the largest group, but there's a notable presence of individuals with bachelor's degrees and beyond. Racially, the population is predominantly White, with smaller communities of Black or African American, Asian, and other races contributing to its diversity. These trends could inform... Read more
Race Distribution in Erie County, Pennsylvania (2022)
Educational Attainment in Erie County, Pennsylvania (2022)
Age Distribution in Erie County, Pennsylvania
Citizen Population in Erie County, Pennsylvania (2022)
Political Trends & Data
Erie County, Pennsylvania, saw a closely contested presidential election in 2020, with Democrats capturing a slight majority of the votes over Republicans. The Libertarian vote was minimal, and other parties barely made a mark. This nearly even split hints at a politically varied community, echoing wider state and national political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Erie County, Pennsylvania, showed a nearly even split between Republican and Democrat votes in the 2020 U.S. Presidential Election, with Democrats holding a slight edge. The Libertarian vote was minimal, while other parties had negligible or no representation. This tight race could suggest a politically diverse landscape, reflecting broader state and national trends.
48.78% of voters voted for the Republican party in the 2020 Presidential Election
49.81% of voters voted for the Democrat party in the 2020 Presidential Election
1.41% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Erie County, Pennsylvania has seen a gradual decrease in student-to-teacher ratios over the past decade, dropping from above the national average in 2014 to around 13 students per teacher today. This trend could indicate a community-focused effort to improve education quality through more individualized attention. For potential homebuyers and investors, this may serve as a promising sign, potentially boosting property values. Real estate professionals and appraisers might leverage this as a... Read more
Student-to-teacher ratio in Erie County, Pennsylvania over the last 10 years
Over the past decade, Erie County, Pennsylvania has seen a gradual decrease in student-to-teacher ratios, from slightly above the national average of 14 students per teacher in 2014 to around 13 students per teacher in recent years. This trend might suggest efforts to improve education quality by ensuring more individualized attention to students. For those looking to move to or invest in properties in Erie County, this could be an encouraging indicator of a community that prioritizes education. Real estate agents and builders might see this as a selling point, while appraisers could consider the potential for higher property values. Insurance agents might also factor in these trends when assessing the desirability and risk profile of the area.
