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

Erie, MI has a median modeled monthly cash flow of $-451 and a median cap rate of 3.5%, on a median sold price of $185,000. Prices changed +5.9% year over year.

What is the average cap rate in Erie, MI?

The median cap rate across recently sold homes in Erie, MI is 3.5%, 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 $185,000 (about $143 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.

$185,000Median sold price

$143Median $/sqft

3.5%Median cap rate

$-451Modeled cash flow / mo

+5.9%Appreciation YoY

5.6Months of supply

23Active listings

49Sold (last 12 mo)

What the Erie numbers say

In Erie, MI, the median home sold for $185,000 (about $143 per square foot), and the typical deal models out to a 3.5% cap rate with a median $-451 of monthly cash flow. Sold prices moved +5.9% over the past year. Inventory sits at about 5.6 months of supply. 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.