ZIP Code · PA

ZIP 16502

Part of Erie, PA

Pop. 15,995·Erie County·255th most expensive ZIP in Pennsylvania

Median rent (all units)

$972/mo

Year-over-Year

-3.5%

Month-over-Month

-0.2%

vs US Median

-$960

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 16502 · $972

More affordable than 98% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$790

1 BR

$890

2 BR

$1,140

3 BR

$1,410

4 BR+

$1,580

Research median

$1,140/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 16502 is 4.9% below its high of $1,022 in June 2026, at $972 as of September 2026.

Past year vs. the rest of Pennsylvania

Rent in ZIP 16502 changed -3.5% over the year to September 2026. Across the 205 Pennsylvania ZIP codes Zillow tracks, the typical change was +3.8%.

Recent direction

Rent has fallen 3 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($38,566) is $964 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($890); a 2-bedroom is $1,140.

Cheaper nearby

ZIP 16503, 2 miles away, rents for 11% less ($866/mo), about $1,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 16502. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$11,664/yr

At $972/mo median

Location

CityErie

StatePA

CountyErie County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 3.5% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-3.5% YoY, -0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 16502 (Erie, PA) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 19.5% of residents hold a bachelor's degree or higher.

Population

15,995

Median income

$38,566

Median age

Renters

60.6%

Age distribution

21.5%

31.3%

20.5%

15.7%

Under 1821.5%

18–3431.3%

35–5420.5%

55–6411.1%

65+15.7%

Gender

49.5%

50.5%

Male49.5%

Female50.5%

Race & ethnicity

67.1%

White67.1%

Black11.9%

Hispanic11.8%

Asian2.3%

Other6.9%

Education (25+)

37.6%

33.7%

19.5%

No HS diploma9.2%

HS diploma37.6%

Some college33.7%

Bachelor's+19.5%

Housing tenure

39.4%

60.6%

Owner39.4%

Renter60.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 16502 in Erie, PA has changed in 5 years

Rent

$893 → $972

up 8.8%

Income

$33,245 → $38,566

up 16.0%

Population

15,548 → 15,995

up 2.9%

Renter share

64.1% → 60.6%

-3.5 pts

Bachelor's+

18.6% → 19.5%

+0.9 pts

Median age

35.3 → 33

-2.3 yrs

Five years ago, renters in ZIP 16502 in Erie, PA paid around $893 a month. That figure now sits near $972, up 8.8% from the 2023 baseline. Census figures show median household income at $38,566 today, compared with $33,245 five years earlier. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 16502 in Erie, PA adding about 447 residents over the five-year window, up 2.9% on net. The renter share has eased from 64.1% to 60.6%, with owner-occupied housing accounting for the remainder. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.

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About renting in ZIP 16502

Last updated: October 17, 2026

ZIP code 16502 covers Erie, PA. The median rent here is $972/mo as of October 2026. A 1-bedroom rents for a median of $890/mo. A 2-bedroom rents for a median of $1,140/mo.

At 30% of local median household income ($38,566/yr), ZIP 16502 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 3.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 16502?

To keep rent at or below 30% of gross income, you would need to earn at least $39,000/year (about $19/hour full-time) to afford the median rent of $972/mo in ZIP 16502. The local median household income is $38,566/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 16502?

Rent in ZIP 16502 has fallen 3.5% over the past year as of September 2026. It sits 4.9% below its high of $1,022 in June 2026.

How does ZIP 16502 compare to other ZIPs in Pennsylvania?

ZIP 16502 is one of the more affordable among Pennsylvania ZIP codes for rent, ranking #255 of 261 at $972/mo. Over the year to September 2026, rent in ZIP 16502 changed -3.5%, against a typical +3.8% across the 205 Pennsylvania ZIP codes Zillow tracks.