Erie, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Erie Neighborhoods Since 2000




Erie, CO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Erie Housing Market Information

With a population of 21,420, 6,708 total housing units (homes and apartments), and a median house value of $461,646, Erie house prices are not only among the most expensive in Colorado, Erie real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Erie, accounting for 89.61% of the town's housing units. Other types of housing that are prevalent in Erie include large apartment complexes or high rise apartments ( 5.92%), row houses and other attached homes ( 4.35%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Erie. Owner-occupied housing accounts for 87.12% of Erie's homes, and 73.50% have either three or four bedrooms, which is average sized relative to America.

Erie homes and real estate are some of the newest in America. 66.60% of Erie's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Erie real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.96%), and before 1939 ( 3.15%). There's also some housing in Erie built between 1940-1969 ( 1.29%).

Erie Home Appreciation Rates

In the last 10 years, Erie has experienced some of the highest home appreciation rates of any community in the nation. Erie real estate appreciated 34.97% over the last ten years, which is an average annual home appreciation rate of 3.04%, putting Erie in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Erie definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Erie that despite a nationwide downturn in the housing market, Erie real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Erie appreciation rates continue to be some of the highest in America, at 10.81%, which is higher than appreciation rates in 95.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Erie. Erie appreciation rates in the latest quarter were at 2.17%, which equates to an annual appreciation rate of 8.97%.

Importantly, this makes Erie one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Colorado, our data show that Erie's latest annual appreciation rate is higher than 70% of the other cities and towns in Colorado.

Average Home Values

 

Median Home Value:
$461,646

Erie, CO HOME PRICES

Value Range
> $1,335,000 2.8
$1,001,001 - $1,335,000 2.1
$667,001 - $1,001,000 12.5
$534,001 - $667,000 20.4
$401,001 - $534,000 34.1
$267,001 - $401,000 17.8
$133,001 - $267,000 9.2
$67,001 - $133,000 0.5
$0 - $67,000 0.7

Very High for CO
Very High for Nation

Value Relative to Nation Value Relative to State
7.0256650650416 17.9039301310044

Number Of Homes And Apartments:
6,708

Erie Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
60.15% 2.77% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,220 / per month

Homeownership Rate

Homeownership
Owners 87.12
Renters 12.88
Vacant 1.69

Housing Market Details

 

Age of Homes

AGE OF Erie HOMES
2000 or Newer 66.6
1970 - 1999 29.0
1940 - 1969 1.3
1939 or Older 3.2

Types of Homes

TYPE OF Erie HOMES
Single-Family 89.6
Townhomes 4.4
Small Apt. Buildings 0.1
Apt. Complexes 5.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Erie HOMES
No Bedroom 0.00
1 Bedroom 1.16
2 Bedrooms 12.11
3 Bedrooms 37.51
4 Bedrooms 36.00
5 or more bedrooms 13.23