dynamic.RE
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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −6.3% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −23.6% YoY, is the number to watch.
The median listing price is down 6.3% YoY while the median home got up 14.0% bigger, so value per square foot is down 20.3%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $216K purchase rents for $1,095/mo: 0.51% of price per month against the 1% rule's 1.00%.
Not shown: 1 BR (sale only, no matching rent), 5 BR (sale only, no matching rent).
Rentals here take about 59 days longer to find a tenant than sales take to go under contract (median across 2 property types).
Not shown: Apartment (rented here, not sold), Condo (rented here, not sold), Land (sold here, not rented), Multi-Family (sold here, not rented).
Not shown: Condo (no rent per sq ft reported).
U.S. Census ACS characteristics for ZIP 16511 itself, not its parent county.
Renters hold 25.6% of this ZIP's 4,658 occupied households, on a median household income of $74K.
| Measure | ZIP 16511 | Erie County | Difference |
|---|---|---|---|
| Median Household Income | $74K | $63K | +$11K |
| Below Poverty Level | 14.1% | 15.0% | -0.9% |
| Median Age | 38.10 | 40.20 | -2.10 |
| Total Population | 11,776 | 269,052 | -- |
| Avg Household Size | 2.46 | 2.31 | +0.15 |
| Owner-Occupied | 74.4% | 68.1% | +6.3% |
| Worked From Home | 8.5% | 8.9% | -0.4% |
| Mean Commute | 19.60 | 19.60 | 0.00 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is down 0.2% to 269,052: residents under 18 are down 1.2% and those 65 and over are up 2.5%.
County median household income is $63K, 15.0% of residents are below the poverty level, 8.9% work from home.