What's a good cap rate in Erie?

In Erie, cap rates typically run around 7.0% (Pennsylvania state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Erie deal lands versus this benchmark.

What's the average rent for a rental in Erie?

A typical rental in Erie runs about $1,000–$1,400/mo (estimate; varies by neighborhood, size, and condition). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Pennsylvania?

Pennsylvania's effective property tax rate is about 1.49% of value per year — the figure TrueCap applies by default for Erie deals. You can override it with the exact local rate.

Erie, PA

Erie rental property analysis

Erie is a deep-value Great Lakes market — very low prices and healthy rent ratios, with healthcare and a university base.

Erie market snapshot

Balanced market

Mid-range cap rates — cash flow and appreciation are both realistically on the table.

Typical cap rate

7.0%

Pennsylvania state median

Typical rent

$1,000–$1,400/mo

est., SFR / small multi

Typical price

$120,000–$200,000

est., all-in

Property tax

1.49%

Pennsylvania effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Erie a good place to buy rentals?

Strong cash-on-cash at low entry; population is flat and stock is old, so screen carefully and reserve for capex.

See the full Pennsylvaniainvesting guide — taxes, landlord law & top metros →

Neighborhoods to look at in Erie

Millcreek

Suburb; desirable, low vacancy, family renters.

West Erie

Affordable, value-add.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Erie deal in 60 seconds

Paste a Erie address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Pennsylvania tax and HUD rent so you start from the right assumptions.

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