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Real Estate In Erie, Pennsylvania

Erie is one of the best cities to consider investing in real estate in Pennsylvania. Named after the Native American tribe and the lake, Erie is one of the most developed cities in Pennsylvania. With a population of over 100,000, the city ticks all the boxes of a prime real estate location. Erie also has a thriving local economy, with various industries operating in the city. With the demand for houses rapidly increasing, investing in real estate in Erie, Pennsylvania is a great idea.

History

History

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Like any other major city, Erie has a great and rich history. It was first inhabited by Europeans in 1753. They settled in the region in the 1750s, with the French constructing Fort Presque Isle. This construction was part of the efforts to defend new France against the approaching British colonists. With Erie becoming an important economic hub in the region, several states started showing interest in it. On March 3, 1792, Erie became part of Pennsylvania. This was after Massachusetts, Connecticut, and New York gave up their rights to the land. The three states sold the land rights to Pennsylvania for 70 cents per acre, totaling about $169,722. Upon the issuing of the continental certificate, Erie became part of Pennsylvania. In its early years, Erie was an important area for fishing, shipbuilding, and railroad transport. These factors contributed to its rapid development in the 19th century. Erie was the site where several sets of track gauges met. The convergence of track gauges made Erie a major transportation hub, with most parts of the state relying on it. With the significant demand for these transport systems, there were constant delays in the city's operations. For instance, delays in railway stations and ports due to a huge amount of goods slowed down the city’s operations. While the delays endangered cargo, they helped create jobs for locals. Erie's downtown continued to develop for most of the 20th century, with a thriving manufacturing base cultivating the city's growth. The city attracted a wave of European immigrants in the city, most of them looking for industrial jobs. During the Prohibition Era in the U.S., Erie was considered a wet city. However, its economy began to suffer in the latter part of the 20th century during the industrial restructuring. At this time, the city experienced a significant drop in income, with some residents moving to other areas. However, it recovered swiftly to become one of the largest economies in Pennsylvania.

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Things to do in Erie

Things to do in Erie

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Being one of the largest cities in Pennsylvania, Erie offers a wide range of things to do and see. Whether you want to explore nature centers, and museums, or engage in horse racing, Erie got it all. You will enjoy a wide range of theaters and shopping facilities spread across the city.
One of the best places to visit is the Presque Isle Park. This is a 3,200-acre peninsula filled with a marina, recreational trails, and numerous beaches for swimming. Just a short distance from Lake Erie, this state park provides a beautiful, romantic setting for a fun-filled day of fishing, swimming, hiking, bicycling, boating, and skating.
Besides, you can have a good time at the Erie Zoo and Botanical Gardens. This is a one-of-a-kind zoo that houses some of the rarest animal species. A visit to this zoo will get you up close and personal with over 500 animals from different parts of the world. You will enjoy seeing warthogs, rhinos, and cheetahs. Besides, there is a rare variety of exotic animals from different parts of Africa. Kids will enjoy the carousels and train rides found within the zoo. There are also several spaces where you can participate in physical activities like hiking and biking.
You will also love the Erie Art Museum found in the city's downtown. This is the city's main art gallery and one of the largest in the northern region. It has a unique art collection that emphasizes modern art and folk art. The facility also hosts a jazz and blues concert series that attracts thousands of attendees. This makes it a great place to invest in real estate in Erie, Pennsylvania.

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Location

Map showing Erie

Location

The beautiful city of Erie is located near Buffalo, Cleveland, and Pittsburgh. Most parts of the city land area are covered by siltstone and Devonian shale. It is also overlain by stratified drift and glacial tills. There are also several stream drainage in Erie that flows into Lake Erie. Some streams flow into the St. Lawrence River through Lake Ontario. A few streams end up in the Atlantic Ocean. In the southern part of Erie, there is a drainage divide where most of the streams converge into a western flow. Erie is mostly flat land, with a few hilly areas in the northeast of the city. With its great topography, investing in real estate for sale in Erie, Pennsylvania, can be very beneficial.

Erie demographics

Erie demographics

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Erie is one of the most populous cities in Pennsylvania. In the 2020 census, the city had a population of over 100,000. There were also around 40,677 households in Erie. Out of the 45,257 housing units in the city, there was an average vacancy rate of 4%. This is a sign that most of the houses in the city are occupied, making real estate in Erie, Pennsylvania, a great investment.
The city experienced a slight decrease in population in the early 2000s, with some companies and dependent businesses closing down operations. However, thanks to the spirited locals, Erie's economy improved gradually, with new inhabitants moving into the city. Its current population is the third-largest in Pennsylvania and it continues to grow gradually.
Of all the households in Erie, about 34.6% had children aged under 18 years living there. Most of the children were aged between 5 and 14. Therefore, when developing real estate in Erie, you need to consider homes that can accommodate parents with young children. Also, 41.5% of the households in Erie were married couples living together. With a majority of married couples in the city being young with no children, real estate developers should consider apartment buildings that attract such tenants.
Erie has one of the strongest economies in Pennsylvania. The city has a diverse mix of mid-sized industries that contribute to its economy. The broader economic base includes various industries, most of them in the manufacturing sector. The thriving service sectors in Erie include insurance, health, and tourism.
Several major companies are based in Erie. For example, the city is the corporate headquarters of Marquette Savings Bank and the Erie Insurance Group. Lord Corporation is also one of the major companies in the city, employing hundreds of locals. Those looking for jobs will have numerous employment opportunities in Erie, making it a great city to live in. The presence of several established companies makes it noble to get real estate for sale in Erie, Pennsylvania.

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Arts in Erie

Arts in Erie

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Erie is home to several arts and entertainment facilities. Several amateurs and professional performing-arts groups are based here, giving you unique entertainment opportunities. Erie Philharmonic is one of the most popular entertainment venues in the city. Ballet lovers will be thrilled by the regular performances of the Lake Erie Ballet group. This is a professional company that puts up captivating shows throughout the year.
You will be amazed by the synchronized display by this team of highly experienced performers. The city is also home to the Erie Civic Music Association which sponsors and manages professional musicians, entertainers, and musicians. The group also deals with performers from around the world, making the group known across the region. Those that enjoy such performances will find real estate for sale in Erie, Pennsylvania, a worthy investment. There is simply no getting bored in Erie.

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Schools in Erie

Schools in Erie

Schools in the city are operated by the Erie Public Schools District. The district is one of the largest in Pennsylvania, enrolling around 13,000 students in secondary and primary grades. Besides, this public school district has around 23 public schools including middle, elementary, and high schools. There is also one charter school. Apart from the many public schools in Erie, about 40 private schools are operating in the city. This gives students a wide range of options to choose from.

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Why Erie?

Why Erie?

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Erie meets the requirements of a great location thanks to its high population and a strong economy. Additionally, the city offers great living conditions thanks to its affordable standards. Therefore, you should consider investing in real estate in Erie, Pennsylvania.

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