Drake, CO—80515
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Drake, CO
As of Oct '25, the median home price in Drake, CO is $474,000, with a year-over-year change of -3.0%. This indicates that home prices in Drake, CO are decreasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $474,000 | -3.1% |
| Single Family | $475,000 | -3.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $359,000 | -2.4% |
2 Bed | $449,000 | -3.4% |
3 Bed | $549,000 | -2.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Drake, CO
As of July '25, Rentcast reports the average rent in Drake, CO is $7,900, with a year-over-year rent change of 184.2%. Detailed rent data by bedroom size is not available for Drake, CO. The most common rental property sizes in Drake, CO are 3-bedroom and studio, accounting for 100.0% and 0.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $7,900 | $7,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Drake, CO
As of Oct '25, Realtor.com reports that the median days on market for a home in Drake, CO is 101. This is a increase of 14.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $525,000 | 1.0% |
Listing Count | 29 | 23.0% |
| Listings as % of Homes | 1.0% | 23.0% |
Days on Market | 101 | 14.0% |
Demographics — Drake, CO
As of the latest ACS Survey released in 2023, Drake, CO has a population of 786, which has decreased by -26.5% over the past 5 years. Drake, CO is a less popular place for families, as children make up 0.0% of the population. The area has a moderately educated workforce, with 43.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 786 | -26.5% |
% Under 18 | 0.0% | -100.0% |
% Seniors | 26.5% | 13.7% |
% WFH | 11.8% | 436.4% |
% w/ College Degree | 43.6% | 9.5% |
As of the latest ACS Survey released in 2023, Drake, CO is a predominantly white area, with 95.9% of the population identifying as white. The white population has grown by 2.7% in the last 5 years. The second most common race or ethnicity in Drake, CO is hispanic, making up 0.5% of the population. Foreign-born residents account for 0.0% of the population in Drake, CO, and this percentage has decreased by 100.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.9% | 2.7% |
% Black | 0.0% | N/A |
% Hispanic | 0.5% | -50.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Drake, CO
According to HUD data as of 2023, there were 74 mortgage originations in Drake, CO, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Drake, CO. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 74 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 3.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Drake, CO
Drake, CO lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,300 |
| 2 Bedroom | N/A | N/A | $1,530 |
| 3 Bedroom | N/A | N/A | $2,150 |
| 4 Bedroom | N/A | N/A | $2,300 |
Affordability — Drake, CO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $474,000 |
| Median Household Income | $79,900 |