Side-by-side comparison of Erie, PA and Pittsburgh, PA — cap rates, rent, prices, and investment metrics.
Cash flow: Pittsburgh has the edge with an estimated cap rate of 5.27% compared to Erie's 3.38%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $210,000 in Erie vs $220,000 in Pittsburgh, while rents come in at $1,050/mo and $1,450/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: Pittsburgh is growing faster at 0.2% annually, while Erie is losing population. Pittsburgh leads on home value appreciation at 2.3% per year.
Costs & risk: Property taxes are 1.4% in Erie vs 1.36% in Pittsburgh. Vacancy rates of 7% and 6% are mixed — Pittsburgh has the tighter rental market.
Entry point: Erie offers a lower entry at $210K vs Pittsburgh's $220K — a difference of $10K. With a 20% down payment, that's $42K vs $44K. Pittsburgh's higher price may be justified by stronger growth.
Bottom line: Pittsburgh edges out Erie on most key metrics. With a 5.27% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Erie or Pittsburgh.