Erie, PA Has Some of the Lowest Rents in the Nation
Rents in the United States hit a record high in April, according to real estate listing site Realtor.com, with rents rising 16.7% compared to the previous year. In contrast, over the previous five years, gross rents increased by 18.1%.
Rising housing costs are a main driver of inflation, which recently hit a multi-decade high in the United States. Higher monthly rent costs are putting a serious squeeze on the millions of Americans, typically younger ones, who already cannot afford to own a home.
According to the most recent available data from the U.S. Census Bureau’s American Community Survey, the median gross rent price in the United States is $1,096. In some major metropolitan areas, however, monthly housing costs are far lower, offering cash-strapped renters a break.
In the Erie metro area, located in Pennsylvania, the median monthly rent price is $758 – 30.8% less than the national average and among the lowest of any U.S. metro area.
Rent prices are partially a reflection of real estate and home values in a given area. And just as rent prices are lower than average in Erie, so too are home values. The typical home in the metro area is worth an estimated $138,500, compared to the national median home value of $229,800
All data used in this story on rent prices and home values are five-year estimates from the U.S. Census Bureau’s 2020 American Community Survey.
RankMetro areaMedian monthly rent ($)Median home value ($)Share of housing units occupied by renters (%)1Johnstown, PA63594,90025.32Weirton-Steubenville, WV-OH65095,40029.03Wheeling, WV-OH657115,20025.54Decatur, AL666137,60026.55Gadsden, AL676124,40027.06Mansfield, OH677115,10033.17Kingsport-Bristol, TN-VA678140,80026.58Bay City, MI679106,40023.99Youngstown-Warren-Boardman, OH-PA683110,30029.710Florence-Muscle Shoals, AL683140,00030.711Danville, IL68380,90029.212Jefferson City, MO686162,10028.313Decatur, IL690103,10030.914Beckley, WV691104,10024.315Carbondale-Marion, IL696118,30037.216Fort Smith, AR-OK701119,50033.817Pocatello, ID702165,80031.718Cumberland, MD-WV708131,30028.319Hickory-Lenoir-Morganton, NC708139,10026.620Parkersburg-Vienna, WV710123,80027.221Morristown, TN715142,80028.222Anniston-Oxford, AL720121,60029.623Dalton, GA721136,80032.824Lima, OH722120,30033.325Muncie, IN72596,60035.526Pine Bluff, AR72685,70034.827Charleston, WV728110,10027.528Johnson City, TN734152,60033.029Huntington-Ashland, WV-KY-OH736123,90028.330Monroe, LA739134,50036.831Terre Haute, IN74099,70030.832Altoona, PA741128,20029.733Kokomo, IN743113,90027.934Dothan, AL744131,60030.335Sheboygan, WI744165,40029.736Brownsville-Harlingen, TX74689,70033.837Joplin, MO748126,20033.638Canton-Massillon, OH750138,30031.239McAllen-Edinburg-Mission, TX75390,00032.040Texarkana, TX-AR753114,10034.241Rocky Mount, NC753115,40036.442Florence, SC754125,10033.043Niles, MI757157,50028.844Springfield, OH757120,50032.945Erie, PA758138,50033.046Utica-Rome, NY760127,00030.147Jonesboro, AR761136,00041.948Lewiston, ID-WA762207,20027.349Michigan City-La Porte, IN763139,90026.750Las Cruces, NM765153,60035.4
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