Photo: Doug Kerr from Albany, NY, United States · CC BY-SA 2.0Measured against area pay, Albion costs less to live in than 97% of U.S. towns
Up 7.8% in a year, 29% below the Pennsylvania typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Erie, PA metro area ($63K). How TownRatings grades cost of living
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the Erie metro earn ($63K, Census 2020–24). The typical home costs 2.2 years of metro income, and 40% of renters pay 30% or more of income for housing.
In dollars
- $203Ktypical home, 29% below the Pennsylvania typical homeZillow, September 2026
- $1,010a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 91prices across the Erie metro, where the U.S. is 100 (housing 57)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.2 yrsof area income buys the typical home; the typical U.S. town: 3.3$63K, Erie-area income
- 11%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 9%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Albion?
Read from the numbers below. The page puts what stands out first.
What’s behind Albion’s grade
Measured against what households in the area earn, Albion is more affordable than 97% of U.S. towns. Property tax pulls the grade down most; the share of households paying 30%+ for housing holds it up.
Values have outpaced Pennsylvania: the typical Albion home is up 31.9% in five years, against 22.9% statewide (Zillow).
Up 7.8% in a year
Faster than Pennsylvania (2.2%).
Show as a table
| January | Albion | Pennsylvania |
|---|---|---|
| 2017 | $118,000 | $171,000 |
| 2018 | $122,000 | $178,000 |
| 2019 | $123,000 | $185,000 |
| 2020 | $130,000 | $196,000 |
| 2021 | $145,000 | $216,000 |
| 2022 | $154,000 | $236,000 |
| 2023 | $165,000 | $253,000 |
| 2024 | $172,000 | $265,000 |
| 2025 | $183,000 | $276,000 |
| 2026 | $192,000 | $283,000 |
| September 2026 | $203,000 | $287,000 |
A typical Albion home worth $115K in October 2016 is worth about $203K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 2.2 years of area income
The calculator starts from the area income the grade uses. Switch to Albion’s own median, or type yours.
That covers a typical Albion home, with $32K to spare.
A two-bedroom rents for about $1,010 a month here, $260 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Albion’s typical property tax (1.23% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,010
Renters already here pay a median of $592, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Erie, PA MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Albion in 2025. The last year with any was 2024 (1 new home).
Between the 2010 and 2020 censuses, Albion gained 12 residents while 19 new homes were permitted: about 0.6 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Pennsylvania: 1.4 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 1 | 1 | 0 | $340,000 |
| 2023 | 1 | 1 | 0 | $266,000 |
| 2022 | 1 | 1 | 0 | $266,000 |
| 2021 | 1 | 1 | 0 | $266,000 |
| 2020 | 1 | 1 | 0 | $266,000 |
| 2019 | 1 | 1 | 0 | $266,000 |
| 2018 | 1 | 1 | 0 | $266,000 |
| 2017 | 6 | 6 | 0 | $1.6 million |
| 2016 | 6 | 6 | 0 | $1.6 million |
| 2015 | 5 | 5 | 0 | $1.3 million |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $179,000 |
| 2008 | 2 | 2 | 0 | $365,000 |
| 2007 | 1 | 1 | 0 | $171,000 |
| 2006 | 1 | 1 | 0 | $171,000 |
| 2005 | 1 | 1 | 0 | $70,000 |
| 2004 | 5 | 5 | 0 | $310,000 |
| 2003 | 5 | 5 | 0 | $310,000 |
| 2002 | 1 | 1 | 0 | $54,000 |
| 2001 | 1 | 1 | 0 | $65,000 |
| 2000 | 2 | 2 | 0 | $181,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Pennsylvania norm
The median bill is $1,739 (Pennsylvania: $3,311), 1.23% of a home’s value a year, against 1.30% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Albion
Only figures published free for the whole country, each labeled with the area it covers: the Erie, PA metro area, or Pennsylvania. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 91 | PA 98 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 101 | PA 99 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 107 | PA 109 | metro | BEA, 2024 |
| Other services U.S. = 100 | 98 | PA 100 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Albion and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Albion | A+ | $203K | $141K | 1.23% | $1,010 |
Questions about the cost of living in Albion
Is Albion expensive to live in?
Measured against what households in the area earn, Albion costs less than 97% of U.S. towns: an A+ for cost of living. The typical home costs 2.2 years of the median household income of the Erie, PA metro area ($63K).
How much does a house cost in Albion?
About $203K, Zillow’s typical value for September 2026, up 7.8% in a year. The Pennsylvania typical home is $287K.
What salary do you need to live in Albion?
To buy the typical home with 20% down at 6.3%, about $55,000 a year, keeping the payment (about $1,270 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $40,000.
How much is rent in Albion?
HUD puts a two-bedroom at about $1,010 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $592 (Census 2020–24).
What are property taxes in Albion?
The median bill is $1,739 a year, 1.23% of the median home value (Pennsylvania: $3,311, 1.30%), from the Census 2020–24.
Are home prices in Albion going up?
Yes: up 7.8% in the past year and 31.9% in five years, against 22.9% across Pennsylvania (Zillow).
Neighbors talk housing
What Albion buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.