Interested in purchasing investment houses in the 16507 zip code in Erie, PA?
The zip code 16507 is in Erie county with a latitude of -80.086570000000 and longitude of 42.136170000000, is in the state of Pennsylvania. The average asking price of houses and condos is $132,111.00 and the average sale price was $61,033.00. this regions is classified as the Erie metro area and is in the 814 area code. The location in degrees is 42° 8' 10.212" N, 80° 5' 11.652" W. The county F.I.P.S. is 42049. The total land area is 2.1 square miles and the water area is 0.9 square miles. The elevation in this area is 617 - 640 feet. The zip code is on eastern standard time and observes daylight savings time.
The zip 16507 is in county number 049 and is L. Sector 05, L. Segment 01, H. Sector 08, and H. Segment 08. The population was 9,676 in 2019 and 11,088 in 2010. This further breaks down to 5,014 males (51.8%) and 4,661 females (48.2%). The median age of residents is 31.2 years. The population of the greater Erie, PA area is 279,906. The population density (people per square mile) is 4,515. This zip code has a combined total of 4,388 houses and condos. There are 2,590 rented appartments. 68% of residents rent versus the 68% of residents in the state who rent.
The financial status of those living in this area is considered lower middle class. The average individual gross adjusted income is $32,480 and the average salary is $26,043. The median household income of individuals is $25,985.00 and the average is $35,130.00. This zip code has a mean commute time to work of 16.9 minutes. The unemployment rate is 7.4%. Income earners by percent breakdown as 78.70% (Under $50,000), 17.50% ($50,000-$100,000), and 3.80% earn over $100,000. 22.4% of residents live below poverty line versus the 12.0% in the state that are below this line. The cost of living index is 90.4. The educational breakdown is 84.6% have a high school education or higher, 18.5% have a bachelor's degree or higher, and 6.2% have some kind of profesional degree.
This area has 4,158 households and the average size is 2.2 people. Individuals who are single and have never been married are 54.7%, 25.1% are now married, 2.5% are separated, 6.0% are widowed, and 11.7% are divorced. The average yearly contribution amount given by people to charity was $5,611 versus the state average of $4,025. The percent of residents who gave to charity was 5.1%.
The estimated median value of houses and condos is $58,383. The median monthly owner costs of mortgage holders was $863, where as the costs for those who don't have a mortgage are $336. The median number of rooms in houses and condos are 6.5 versus apartments which had a median number of 4.9.
The real estate tax percent rate is 2.5% which equated to an average real estate tax amount payment of $1,457. In comparision, the average real estate tax percent rate in the state is 1.5% which equated to an average real estate tax amount payment in the state of $2,887. The median housing property tax percent for residents with mortgages was 2.5% which amounted to an average tax amount of $1,607. Conversely, the median housing property tax percent for residents who don't have mortgages was 2.7% which amounted to an average tax amount of $1,330. Reported taxable interest for persons was $812, dividends $4,935, capital gains +$12,490, and itemized deductions $28,941. The average earned income tax credit is $2,358. The percent of individuals that use a tax preparer is 42.8%. The total average income taxes paid by individuals was $11,045. Businesses reported an average profit of $9,164.
Smuggler's Wharf
3 State St, Erie, PA 16507
Rum Runners Cove
2 State St, Erie, PA 16507
Sullivan's Pub & Eatery
301 French St, Erie, PA 16507
U Pick 6 Tap House
333 State St, Erie, PA 16507
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