16509 — Erie County, Pennsylvania Market Snapshot
Housing market data for zip code 16509 in Erie County, Pennsylvania. Updated monthly with median prices, days on market, and more.
Market Sales Data
38 sales in 2026 (year to date)
Median Sale Price
$255,500
Days to Sell
18
Homes Sold
38
Inventory
26
Sale-to-List
98.4%
New Listings
68
Price/SqFt
$156
Pending Sales
56
Conforming Loan Available
Most homebuyers in 16509 can comfortably use conventional financing. The median home price of $255,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
Homes in 16509 are moving quickly at 18 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 16509 (98.4% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 16509 can comfortably use conventional financing. The median home price of $255,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 16509 are set at the county level.
2026 Loan Limits — Erie County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 16509
To purchase the median home at $255,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,108.
Monthly Payment
$2,108
Income Required
$90,324
Principal & Interest
$1,574/mo
Down Payment (5%)
$12,775
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 16509.
Estimated Monthly Payment
$1,731
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