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Mortgage Calculator &
Closing Costs: Erie, PA

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Erie, Pennsylvania.

Median Home Price
$145K
Population
95K
Avg Monthly Rent
$880
Property Tax Rate
1.36%
Erie vs Pennsylvania Median
The median home price in Erie is $145,000, which is 48% below the Pennsylvania state median of $280,000.

Mortgage Calculator — Erie, PA

Pre-filled with Erie median home price and Pennsylvania tax/insurance rates. Adjust for your property.

$
$29,000
%
%
years
PA avg
%
$
Monthly Payment (PITI)
$1,015
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$733
per month
Taxes & Insurance
$281
per month
Total Interest Paid
$148K
over 30 years
Total Loan Cost
$264K
all payments
Payment Breakdown
Loan Amount$116,000
Principal & Interest$733
Property Taxes$164
Homeowners Insurance$117
Total Monthly PITI$1,015

Closing Costs — Erie, PA

Estimated closing costs based on Pennsylvania rates and fees applied to Erie prices.

$
%
Pennsylvania: Avg closing costs 1.7% of price. Transfer tax: 2%.
Estimated Closing Costs
$9,512
6.6% of purchase price
Lender Fees
$1,469
origination, underwriting
Third-Party
$2,175
appraisal, title, inspection
Government Fees
$2,900
transfer taxes, recording
Prepaids + Escrow
$2,968
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,044
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,025
Recording Fee$150
Transfer Tax$2,900
Prepaid Taxes (3 mo)$493
Prepaid Insurance (12 mo)$1,400
Prepaid Interest (15 days)$349
Escrow Reserves$726
Total Closing Costs$9,512

Buying a Home in Erie, Pennsylvania

The median home price in Erie is $145,000, 48% below the Pennsylvania state median of $280,000. With a population of 94,831, Erie is a smaller market where home prices tend to be more accessible than in many parts of Pennsylvania.

Property taxes in Pennsylvania average 1.36% annually. This moderate property tax rate means a $145,000 home in Erie would carry roughly $164/month in property taxes. Homeowners insurance in Pennsylvania runs approximately $1,400 per year. This is within the normal range nationally.

Average rent in Erie is $880/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Erie over the long term.

Erie offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Pennsylvania's PHFA Keystone Advantage program.

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Compare total costs of renting vs buying in Erie.
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