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ZIP Code · PA

ZIP 16507

Part of Erie, PA
Pop. 8,597·Erie County·250th most expensive ZIP in Pennsylvania
Median rent (all units)
$1,028/mo
Year-over-Year
-7.0%
Month-over-Month
-5.2%
vs US Median
-$937
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 16507 · $1,028
More affordable than 97% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$880
1 BR
$990
2 BR
$1,270
3 BR
$1,570
4 BR+
$1,760
Research median
$1,270/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
$12,336/yr
At $1,028/mo median
Location
CityErie
StatePA
CountyErie County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 7.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-7.0% YoY, -5.2% MoM), not inventory.
Demographics

Who lives here

ZIP 16507 (Erie, PA) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 21.8% of residents hold a bachelor's degree or higher.

Population
8,597
Median income
$33,361
Median age
26.8
Renters
66.2%
Age distribution
21.1%
40.5%
14.6%
15%
Under 1821.1%
18–3440.5%
35–5414.6%
55–648.9%
65+15%
Gender
47.4%
52.6%
Male47.4%
Female52.6%
Race & ethnicity
57.6%
22.7%
White57.6%
Black22.7%
Hispanic9.2%
Asian4.4%
Other6.1%
Education (25+)
48.1%
19.9%
21.8%
No HS diploma10.1%
HS diploma48.1%
Some college19.9%
Bachelor's+21.8%
Housing tenure
33.8%
66.2%
Owner33.8%
Renter66.2%

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

2021 vs 2026

How ZIP 16507 in Erie, PA has changed in 5 years

Income
$33,401 → $33,361
down 0.1%
Population
9,111 → 8,597
down 5.6%
Renter share
68.5% → 66.2%
-2.3 pts
Bachelor's+
21.7% → 21.8%
+0.1 pts
Median age
30.8 → 26.8
-4.0 yrs

Median household income slipped from $33,401 to $33,361 between 2021 and 2024, a 0.1% shift. The population has contracted by 5.6% since 2021, moving from about 9,111 residents to roughly 8,597. Renters now make up 66.2% of households, compared with 68.5% five years ago.

Community

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Local insights

Tips for renters in ZIP 16507

About renting in ZIP 16507

Last updated: July 20, 2026

ZIP code 16507 covers Erie, PA. The median rent here is $1,028/mo as of July 2026. A 1-bedroom rents for a median of $990/mo. A 2-bedroom rents for a median of $1,270/mo.

At 37% of local median household income ($33,361/yr), ZIP 16507 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 7.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 16507?

As of July 20, 2026, the median monthly rent in ZIP 16507 (Erie, PA) is $1,028. This is based on aggregated data from public sources and community submissions.

How does ZIP 16507 rent compare to the US average?

ZIP 16507's median rent of $1,028/mo is $937 (48%) below the US national median of $1,965/mo.

How does ZIP 16507 compare to other ZIPs in Pennsylvania?

ZIP 16507 is among the more affordable ZIP codes in Pennsylvania, ranking #250 out of 270 ZIPs at $1,028/mo.

How much income do you need to rent in ZIP 16507?

To keep rent at or below 30% of gross income, you would need to earn at least $41,000/year (~$20/hour full-time) to afford the median rent of $1,028/mo in ZIP 16507. The local median household income is $33,361/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 16507?

Rent in ZIP 16507 has decreased 7.0% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 16507 an affordable place to rent?

ZIP 16507 is considered moderate for renters. At $1,028/mo, rent takes approximately 37% of the local median household income ($33,361/yr). The standard benchmark is 30%. ZIP 16507 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 16507 residents rent vs. own?

According to Census data, approximately 66.2% of ZIP 16507 households are renters, while 33.8% are owner-occupied. With a majority renter population, ZIP 16507 has a strong rental market.

How does ZIP 16507 compare to the rest of Erie?

ZIP 16507 is more affordable than Erie overall. At $1,028/mo, it's $8 below the Erie citywide median of $1,036/mo.

When was rent data for ZIP 16507 last updated?

Rent data for ZIP 16507 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
37%
MODERATE

At $1,028/mo, rent takes ~37% of ZIP 16507's median household income ($33,361/yr). The standard benchmark is 30%.

ZIP 16507 37%Benchmark 30%
State income tax3.07%
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Schools nearby

Public schools near ZIP 16507 (Erie, PA)

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