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ZIP Code · PA

ZIP 16505

Part of Erie, PA
Pop. 15,270·Erie County·268th most expensive ZIP in Pennsylvania
Median rent (all units)
$838/mo
Year-over-Year
Stable
Month-over-Month
-25.8%
vs US Median
-$1,127
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 16505 · $838
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
$10,056/yr
At $838/mo median
Location
CityErie
StatePA
CountyErie County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -25.8% MoM), not inventory.
Demographics

Who lives here

ZIP 16505 (Erie, PA) is majority owner-occupied, has a large retiree population, 45.9% of residents hold a bachelor's degree or higher.

Population
15,270
Median income
$72,938
Median age
50.9
Renters
29.3%
Age distribution
15.8%
14.4%
26.6%
15%
28.2%
Under 1815.8%
18–3414.4%
35–5426.6%
55–6415%
65+28.2%
Gender
47.7%
52.3%
Male47.7%
Female52.3%
Race & ethnicity
93.7%
White93.7%
Black0.6%
Hispanic2.7%
Asian1.3%
Other1.7%
Education (25+)
30.1%
20.7%
45.9%
No HS diploma3.3%
HS diploma30.1%
Some college20.7%
Bachelor's+45.9%
Housing tenure
70.7%
29.3%
Owner70.7%
Renter29.3%

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

2021 vs 2026

How ZIP 16505 in Erie, PA has changed in 5 years

Income
$65,767 → $72,938
up 10.9%
Population
16,081 → 15,270
down 5.0%
Renter share
24.5% → 29.3%
+4.8 pts
Bachelor's+
43.6% → 45.9%
+2.3 pts
Median age
49 → 50.9
+1.9 yrs

Census figures show median household income at $72,938 today, compared with $65,767 five years earlier. Census counts show ZIP 16505 in Erie, PA losing about 811 residents over the five-year window, down 5.0% on net. The renter share has risen from 24.5% to 29.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 43.6% to 45.9% across the same window.

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Local insights

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About renting in ZIP 16505

Last updated: July 20, 2026

ZIP code 16505 covers Erie, PA. The median rent here is $838/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 14% of local median household income ($72,938/yr), ZIP 16505 ranks as affordable 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 16505?

As of July 20, 2026, the median monthly rent in ZIP 16505 (Erie, PA) is $838. This is based on aggregated data from public sources and community submissions.

How does ZIP 16505 rent compare to the US average?

ZIP 16505's median rent of $838/mo is $1,127 (57%) below the US national median of $1,965/mo.

How does ZIP 16505 compare to other ZIPs in Pennsylvania?

ZIP 16505 is among the more affordable ZIP codes in Pennsylvania, ranking #268 out of 270 ZIPs at $838/mo.

How much income do you need to rent in ZIP 16505?

To keep rent at or below 30% of gross income, you would need to earn at least $34,000/year (~$16/hour full-time) to afford the median rent of $838/mo in ZIP 16505. The local median household income is $72,938/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 16505?

Rent in ZIP 16505 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 16505 an affordable place to rent?

ZIP 16505 is considered very affordable for renters. At $838/mo, rent takes approximately 14% of the local median household income ($72,938/yr). The standard benchmark is 30%. ZIP 16505 falls comfortably within that range.

What percentage of ZIP 16505 residents rent vs. own?

According to Census data, approximately 29.3% of ZIP 16505 households are renters, while 70.7% are owner-occupied. ZIP 16505 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 16505 compare to the rest of Erie?

ZIP 16505 is more affordable than Erie overall. At $838/mo, it's $198 below the Erie citywide median of $1,036/mo.

When was rent data for ZIP 16505 last updated?

Rent data for ZIP 16505 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
14%
VERY AFFORDABLE

At $838/mo, rent takes ~14% of ZIP 16505's median household income ($72,938/yr). The standard benchmark is 30%.

ZIP 16505 14%Benchmark 30%
State income tax3.07%
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Schools nearby

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