Erie, CO—80516
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Erie, CO
As of Oct '25, the median home price in Erie, CO is $708,000, with a year-over-year change of -2.3%. This indicates that home prices in Erie, CO are decreasing. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $708,000 | -2.3% |
| Single Family | $712,000 | -2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $523,000 | -1.9% |
3 Bed | $624,000 | -2.2% |
4 Bed | $735,000 | -2.6% |
| 5 Bed | $867,000 | -2.8% |
% of Housing Stock
Rental Trends — Erie, CO
As of July '25, Rentcast reports the average rent in Erie, CO is $3,000, with a year-over-year rent change of -3.8%. Per bedroom, the median rent as of July '25 in Erie, CO is studios: $1,570, 1-bedrooms: $1,320, 2-bedrooms: $2,100, 3-bedrooms: $2,990, 4-bedrooms: $3,460. The most common rental property sizes in Erie, CO are 3-bedroom and 2-bedroom, accounting for 43.7% and 43.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,100 | $3,000 |
| Studio Rent | $1,570 | $1,570 |
| 1 Bed Rent | $1,150 | $1,320 |
| 2 Bed Rent | $1,980 | $2,100 |
| 3 Bed Rent | $3,000 | $2,990 |
| 4 Bed Rent | $3,500 | $3,460 |
% of Rental Stock
Property Listings — Erie, CO
As of Oct '25, Realtor.com reports that the median days on market for a home in Erie, CO is 49. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $742,000 | 0.0% |
Listing Count | 268 | 13.0% |
| Listings as % of Homes | 1.0% | 13.0% |
Days on Market | 49 | 2.0% |
Demographics — Erie, CO
As of the latest ACS Survey released in 2023, Erie, CO has a population of 37,100, which has increased by 41.0% over the past 5 years. Erie, CO is a popular place for families, as children make up 29.3% of the population. The area has a highly educated workforce, with 63.6% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,100 | 41.0% |
% Under 18 | 29.3% | 0.3% |
% Seniors | 10.8% | 8.0% |
% WFH | 28.8% | 157.1% |
% w/ College Degree | 63.6% | 9.7% |
As of the latest ACS Survey released in 2023, Erie, CO is a predominantly white area, with 77.3% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Erie, CO is hispanic, making up 10.7% of the population. Foreign-born residents account for 8.4% of the population in Erie, CO, and this percentage has increased by 13.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.3% | -6.8% |
% Black | 0.1% | -50.0% |
% Hispanic | 10.7% | 10.3% |
% Asian | 6.2% | 14.8% |
% Foreign Born | 8.4% | 13.5% |
Mortgage and Risk — Erie, CO
According to HUD data as of 2023, there were 1315 mortgage originations in Erie, CO, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Erie, CO. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,315 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Erie, CO
As of 2024, the percent of homes in Erie, CO under the Section 8 program is 2.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Erie, CO, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 30 |
Total Units Section 8 | 30 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $880 | $1,150 | $2,030 |
| 2 Bedroom | $540 | $1,980 | $2,520 |
| 3 Bedroom | $430 | $3,000 | $3,430 |
| 4 Bedroom | $420 | $3,500 | $3,920 |
Affordability — Erie, CO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $708,000 |
| Median Household Income | $161,000 |