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ZIP Code · PA

ZIP 16503

Part of Erie, PA
Pop. 15,753·Erie County·269th most expensive ZIP in Pennsylvania
Median rent (all units)
$825/mo
Year-over-Year
Stable
Month-over-Month
+3.1%
vs US Median
-$1,140
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 16503 · $825
More affordable than 100% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$780
1 BR
$880
2 BR
$1,130
3 BR
$1,400
4 BR+
$1,570
Research median
$1,130/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: July 20, 2026

Annual cost
$9,900/yr
At $825/mo median
Location
CityErie
StatePA
CountyErie County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +3.1% MoM), not inventory.
Demographics

Who lives here

ZIP 16503 (Erie, PA) is majority renter-occupied, has a median income below the national average, 11.9% of residents hold a bachelor's degree or higher.

Population
15,753
Median income
$32,340
Median age
31.7
Renters
62%
Age distribution
24.9%
28.9%
24.5%
Under 1824.9%
18–3428.9%
35–5424.5%
55–6412%
65+9.8%
Gender
52.3%
47.7%
Male52.3%
Female47.7%
Race & ethnicity
43.9%
36.2%
13.1%
White43.9%
Black36.2%
Hispanic13.1%
Asian3.4%
Other3.4%
Education (25+)
24.4%
43.1%
20.6%
No HS diploma24.4%
HS diploma43.1%
Some college20.6%
Bachelor's+11.9%
Housing tenure
38%
62%
Owner38%
Renter62%

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

2021 vs 2026

How ZIP 16503 in Erie, PA has changed in 5 years

Income
$27,060 → $32,340
up 19.5%
Population
15,876 → 15,753
down 0.8%
Renter share
63.3% → 62%
-1.3 pts
Bachelor's+
9.2% → 11.9%
+2.7 pts
Median age
30.4 → 31.7
+1.3 yrs

Local incomes tracked alongside that move, going from a median of $27,060 in 2021 to $32,340 more recently. College-educated residents now make up 11.9% of adults here, versus 9.2% in 2021.

Community

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Local insights

Tips for renters in ZIP 16503

About renting in ZIP 16503

Last updated: July 20, 2026

ZIP code 16503 covers Erie, PA. The median rent here is $825/mo as of July 2026. A 1-bedroom rents for a median of $880/mo. A 2-bedroom rents for a median of $1,130/mo.

At 31% of local median household income ($32,340/yr), ZIP 16503 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 16503?

As of July 20, 2026, the median monthly rent in ZIP 16503 (Erie, PA) is $825. This is based on aggregated data from public sources and community submissions.

How does ZIP 16503 rent compare to the US average?

ZIP 16503's median rent of $825/mo is $1,140 (58%) below the US national median of $1,965/mo.

How does ZIP 16503 compare to other ZIPs in Pennsylvania?

ZIP 16503 is among the more affordable ZIP codes in Pennsylvania, ranking #269 out of 270 ZIPs at $825/mo.

How much income do you need to rent in ZIP 16503?

To keep rent at or below 30% of gross income, you would need to earn at least $33,000/year (~$16/hour full-time) to afford the median rent of $825/mo in ZIP 16503. The local median household income is $32,340/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 16503?

Rent in ZIP 16503 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 16503 an affordable place to rent?

ZIP 16503 is considered moderate for renters. At $825/mo, rent takes approximately 31% of the local median household income ($32,340/yr). The standard benchmark is 30%. ZIP 16503 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 16503 residents rent vs. own?

According to Census data, approximately 62% of ZIP 16503 households are renters, while 38% are owner-occupied. With a majority renter population, ZIP 16503 has a strong rental market.

How does ZIP 16503 compare to the rest of Erie?

ZIP 16503 is more affordable than Erie overall. At $825/mo, it's $211 below the Erie citywide median of $1,036/mo.

When was rent data for ZIP 16503 last updated?

Rent data for ZIP 16503 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
31%
MODERATE

At $825/mo, rent takes ~31% of ZIP 16503's median household income ($32,340/yr). The standard benchmark is 30%.

ZIP 16503 31%Benchmark 30%
State income tax3.07%
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Schools nearby

Public schools near ZIP 16503 (Erie, PA)

Recent submissions

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