Department of Numbers

Erie Pennsylvania Residential Rent and Rental Statistics

The median monthly gross residential rent in Erie, PA (the Erie metro area) was $701 in 2015 according to the Census ACS survey.1 Average gross rent in Erie was $732 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Erie median and average rent data will be released in September of 2017.

Data is also available below for Erie rental vacancy rates, Erie rent as a percent of median income and the fraction of renters in Erie.

Show dollars as: Nominal Real

Real Gross Rent in Erie Pennsylvania (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Pennsylvania Median Gross Rent $868 +2.84% +8.50%
Erie, PA Median Gross Rent $701 +1.45% +6.53%

Erie, PA Real Gross Rent Trends

At $701, real median gross rent in Erie was at its highest level in 2015 since the series began in 2005. At $732, real average gross rent in Erie was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Erie: Erie PA Median, Erie PA Average, Pennsylvania Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Erie

Date US
Median
Pennsylvania
Median
Erie, PA
Median
Erie, PA
Average
2015 $959 $868 $701 $732
2014 $930 $844 $691 $693
2013 $898 $822 $692 $682
2012 $886 $800 $658 $696
2011 $887 $800 $638 $665
2010 $901 $804 $659 $668
2009 $905 $793 $625 $618
2008 $920 $811 $682 $692
2007 $874 $759 $620 $617
2006 $883 $769 $646 $639
2005 $858 $762 $660 $652

Erie Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Erie Pennsylvania was 7.11% according to Census ACS data.

Rental Vacancy Rate in Erie Pennsylvania

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Pennsylvania 5.77% -0.63% -0.11%
Erie, PA 7.11% -0.93% +0.95%

Trends in Erie, PA Rental Vacancy Rate

The rental vacancy rate in Erie peaked in 2007 at 10.98%. Since then it has fallen by 3.87% to 7.11%. Data records for this series originated in 2005. From a 2009 post peak low of 5.41%, the rental vacancy rate has increased by 1.70%.

Rental Vacancy Rate: Erie PA, Pennsylvania, US

Rental vacancy rate in Pennsylvania

Historical Rental Vacancy Rate data for Erie

Date US Pennsylvania Erie, PA
2015 5.85% 5.77% 7.11%
2014 6.32% 6.40% 8.04%
2013 6.49% 5.78% 6.03%
2012 6.77% 5.88% 6.16%
2011 7.40% 6.13% 5.48%
2010 8.17% 6.47% 7.62%
2009 8.43% 6.80% 5.41%
2008 7.86% 6.65% 9.05%
2007 7.87% 7.34% 10.98%
2006 7.70% 8.09% 5.64%
2005 7.74% 7.94% 8.07%

Rent as a Fraction of Income

Using median household income data for Erie, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Erie, median monthly gross rent as a fraction of median household income was 17.75% in 2015 according to the ACS.

Erie Pennsylvania Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Pennsylvania 18.70% -0.42% +0.01%
Erie, PA 17.75% -0.53% +0.85%

Trends in Erie, PA Rent as a Fraction of Income

The fraction of median Erie household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 18.88%. Since then it has fallen by 1.13% to 17.75%.

Fraction of Income towards Rent: Erie PA, Pennsylvania, US

Percent of median household income going towards median monthly gross rent in Erie Pennsylvania

Historical Data for Annual Rent as a Fraction of Income in Erie Pennsylvania

Date US Pennsylvania Erie, PA
2015 20.63% 18.70% 17.75%
2014 20.89% 19.12% 18.28%
2013 20.78% 19.11% 18.88%
2012 20.65% 18.69% 16.91%
2011 20.70% 18.78% 17.92%
2010 20.50% 18.58% 17.67%
2009 20.12% 17.88% 16.28%
2008 19.00% 17.18% 16.57%
2007 18.66% 16.92% 15.85%
2006 18.90% 17.22% 16.89%
2005 18.89% 17.43% 16.67%

Renter Fraction in Erie Pennsylvania

You can calculate the renter fraction in Erie in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Erie as a fraction of total Erie households. In 2015 35.94% of households were renters according to Census ACS data.

Erie Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Pennsylvania 31.28% +0.11% +0.19%
Erie, PA 35.94% +2.27% +1.38%

Trends in the Erie, PA Renter Fraction

At 35.94%, the 2015 household based renter fraction in Erie was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Erie PA, Pennsylvania, US

Fraction of renters in Erie

History of Erie Renter Fraction

Date US Pennsylvania Erie, PA
2015 36.97% 31.28% 35.94%
2014 36.90% 31.17% 33.67%
2013 36.50% 31.05% 31.87%
2012 36.09% 31.09% 34.56%
2011 35.42% 30.51% 33.77%
2010 34.65% 29.87% 33.26%
2009 34.13% 29.48% 30.22%
2008 33.36% 29.15% 30.68%
2007 32.80% 28.36% 28.93%
2006 32.73% 28.28% 31.31%
2005 33.10% 28.52% 30.32%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.