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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 33,104, 10,585 total housing units (homes and apartments), and a median house value of $887,730, 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.
Erie is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Erie than is found in 98% of the communities in America.
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 86.36% of Erie's homes, and 66.98% 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. 76.07% 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 ( 20.56%), and between 1940-1969 ( 2.00%). There's also some housing in Erie built before 1939 ( 1.38%).
Appreciation rates for homes in Erie have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 112.09%, which ranks in the top 30% nationwide. This equates to an annual average Erie house appreciation rate of 7.81%.
Over the last year, Erie appreciation rates have trailed the rest of the nation. In the last twelve months, Erie's appreciation rate has been 0.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Erie were at 2.33%, which equates to an annual appreciation rate of 9.67%.
Relative to Colorado, our data show that Erie's latest annual appreciation rate is lower than 90% of the other cities and towns in Colorado.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Erie differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Erie - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Erie real estate investment or home purchase decisions.
$887,730
for Colorado
for nation
10,585
$4,135 / per month