Is Erie, MI a good place to invest in rental property?

Erie, MI has a median modeled monthly cash flow of $-242 and a median cap rate of 4.5%, on a median sold price of $210,000. Prices changed +6.2% year over year.

What is the average cap rate in Erie, MI?

The median cap rate across recently sold homes in Erie, MI is 4.5%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Erie, MI?

The median sold price in Erie, MI is $210,000 (about $146 per square foot).

Investing in Erie, MI Real Estate

A data-driven snapshot of the Erie, MI rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$210,000Median sold price

$146Median $/sqft

4.5%Median cap rate

$-242Modeled cash flow / mo

+6.2%Appreciation YoY

8.6Months of supply

33Active listings

46Sold (last 12 mo)

What the Erie numbers say

In Erie, MI, the median home sold for $210,000 (about $146 per square foot), and the typical deal models out to a 4.5% cap rate with a median $-242 of monthly cash flow. Sold prices moved +6.2% over the past year. Inventory sits at about 8.6 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Michigan markets to compare

See Erie cash-flowing listings

CashFlowRE ranks every for-sale home in Erie, MI by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Erie deals, or browse the national market data.