What is the median home value in Erie County, NY?

The median home value in Erie County, NY is $217,400, according to the latest Census ACS 5-Year Estimates.

What is the cap rate in Erie County, NY?

The cap rate proxy in Erie County, NY is 7.4% (estimated from HUD Fair Market Rent and Census home values with a 35% expense ratio). This is above average for cash-flow investors.

How much new construction is happening in Erie County, NY?

Erie County has 950,044 residents and issued 992 building permits over the trailing twelve months, according to the Census Building Permits Survey.

Buffalo-Cheektowaga, NY · New York

Erie County

950,044 residents992 permits TTM$71,175 median HHI68 ZIP codesUpdated April 16, 2026

Investor first look

Median home value

$217,400

ACS 5-Year

Cap rate proxy

7.4%

FMR × 0.65 ÷ Home Value

Rent-to-income

17.5%

HUD FMR ÷ ACS HHI

Net migration

+0.90%

IRS SOI

Permits (TTM)

992

Census BPS

Climate risk

97.7

FEMA NRI (0–100)

ZIP code breakdown68 ZIP codes

ZIP	Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
14211	$109,535	$1,300	14.2%	11.4%	20.2%
14208	$132,624	$1,260	11.4%	9.4%	17.7%
14261	$217,400county est.	$1,730	9.5%	5.7%	40.1%
14260	$217,400county est.	$1,700	9.4%	5.7%	39.0%
14112	$217,400county est.	$1,580	8.7%	5.7%	34.4%

Ranked by composite score

Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
$173,711	$1,140	7.9%	11.3%	-44.0%
$139,612	$1,210	10.4%	10.3%	1.4%
$217,400county est.	$1,910	10.5%	9.9%	5.9%
$153,374	$1,160	9.1%	9.5%	-5.2%
$169,990	$1,200	8.5%	9.2%	-8.3%
$146,519	$1,180	9.7%	8.5%	12.1%
$190,028	$1,310	8.3%	8.5%	-2.6%
$165,989	$1,180	8.5%	8.1%	4.7%
$301,090	$1,500	6.0%	7.4%	-23.1%
$205,162	$1,160	6.8%	7.3%	-7.1%
$220,100	$1,260	6.9%	7.0%	-1.9%
$273,755	$1,440	6.3%	6.8%	-8.4%
$254,699	$1,380	6.5%	6.6%	-1.3%
$371,084	$1,630	5.3%	6.6%	-24.5%
$247,170	$1,310	6.4%	6.4%	-0.9%
$244,741	$1,420	7.0%	6.4%	8.6%
$338,715	$1,700	6.0%	6.3%	-5.1%
$255,842	$1,270	6.0%	6.3%	-5.3%
$206,324	$1,280	7.4%	6.0%	19.0%
$401,091	$1,820	5.4%	6.0%	-9.9%
$211,759	$1,330	7.5%	5.9%	22.0%
$253,458	$1,510	7.1%	5.8%	19.3%
$217,400county est.	$1,280	7.1%	5.7%	19.0%
$217,400county est.	$1,260	7.0%	5.7%	17.7%
$217,400county est.	$2,010	11.1%	5.7%	48.4%
$217,400county est.	$1,250	6.9%	5.7%	17.0%
$217,400county est.	$1,220	6.7%	5.7%	15.0%
$217,400county est.	$1,170	6.5%	5.7%	11.4%
$217,400county est.	$1,050	5.8%	5.7%	1.2%
$219,420	$1,220	6.7%	5.7%	15.0%
$220,424	$1,260	6.9%	5.6%	17.7%
$320,259	$1,340	5.0%	5.6%	-11.9%
$318,453	$1,510	5.7%	5.4%	5.2%
$231,748	$1,170	6.1%	5.4%	11.4%
$238,804	$1,040	5.2%	5.2%	0.3%
$242,410	$990	4.9%	5.1%	-4.8%
$244,878	$1,280	6.3%	5.1%	19.0%
$245,307	$1,230	6.0%	5.1%	15.7%
$507,558	$2,010	4.8%	5.0%	-4.5%
$297,427	$1,360	5.5%	5.0%	9.7%
$408,110	$1,540	4.5%	5.0%	-9.3%
$319,564	$1,520	5.7%	4.8%	15.2%
$263,574	$2,010	9.2%	4.7%	48.4%
$281,673	$1,480	6.3%	4.4%	29.9%
$294,686	$1,160	4.7%	4.2%	10.6%
$295,676	$1,110	4.5%	4.2%	6.6%
$308,200	$1,290	5.0%	4.0%	19.6%
$311,390	$1,100	4.2%	4.0%	5.7%
$312,744	$1,130	4.3%	4.0%	8.2%
$336,866	$1,180	4.2%	3.7%	12.1%
$511,809	$1,520	3.6%	3.6%	-2.2%
$344,729	$1,030	3.6%	3.6%	-0.7%
$355,175	$1,940	6.6%	3.5%	46.5%
$359,268	$1,390	4.6%	3.5%	25.4%
$361,426	$1,290	4.3%	3.4%	19.6%
$364,614	$1,220	4.0%	3.4%	15.0%
$376,209	$1,330	4.2%	3.3%	22.0%
$402,523	$1,760	5.2%	3.1%	41.1%
$416,816	$1,260	3.6%	3.0%	17.7%
$439,323	$1,760	4.8%	2.8%	41.1%
$489,247	$1,220	3.0%	2.5%	15.0%
$555,009	$1,370	3.0%	2.2%	24.3%
$567,889	$2,010	4.2%	2.2%	48.4%

Demographics

Owner-occupied

65.5%

Census ACS

Vacancy rate

7.1%

Census ACS

Bachelor's degree +

36.9%

Census ACS

Rent burdened

47.0%

Census ACS (>30% income)

Median age

40.3

Census ACS

Data sources

U.S. Census Bureau — American Community Survey 5-Year Estimates

U.S. Census Bureau — Building Permits Survey

U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)

Internal Revenue Service — Statistics of Income Migration Data

FEMA — National Risk Index

Last updated: April 16, 2026

Erie County

See all 68 ZIPs ranked by yield and cap rate