The typical owner-occupied home in Erie is worth about $736,500, 37% above the Colorado median of $539,400 and 2.2 times the national median of $332,700. Owners pay a median $5,395 a year in property taxes, about 0.73% of their home's value, higher than the Colorado rate of 0.48%. The median household earns $173,349 a year, so the median home costs 4.2 times the median income (5.6 times for Colorado). 88% of occupied homes here are lived in by their owners, and 78% of those owners still have a mortgage.
Erie at a glance
| Erie | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $736,500 | $539,400 | $332,700 |
| Median property tax paid per year | $5,395 | $2,602 | $3,119 |
| Property tax as a share of value | 0.73% | 0.48% | 0.94% |
| Median household income | $173,349 | $95,470 | $80,734 |
| Homes lived in by their owners | 88% | 66% | 65% |
| Owner homes with a mortgage | 78% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $3,174 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 22.1% | 21.0% |
| Median rent | $2,805 | $1,761 | $1,413 |
| Rent as a share of renters' income | 26.8% | 31.4% | 30.6% |
| Median year homes were built | 2008 | 1988 | 1980 |
| Vacant homes | 1.8% | 8.3% | 10.1% |
| Population | 33,808 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Erie
At this week's average 30-year rate of 7.11%, buying the median Erie home of $736,500 with 20% down costs about $4,718 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,945, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $202,221 for the 20%-down payment. That payment is 33% of the median Erie household income of $173,349; at that income and 20% down, the 28% guideline points to a home of about $631,000.
The median rent here is $2,805 a month, so owning the median home costs about $1,914 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $147,300 |
|---|---|
| Loan amount | $589,200 |
| Principal and interest | $3,964 |
| Property taxes (0.73% a year) | $448 |
| Homeowners insurance (our estimate, 0.5% a year) | $307 |
| PMI | $0 |
| Total per month | $4,718 |
Change the numbers in the calculator
| Down payment | $25,778 |
|---|---|
| Loan amount | $723,160 |
| Principal and interest | $4,865 |
| Property taxes (0.73% a year) | $448 |
| Homeowners insurance (our estimate, 0.5% a year) | $307 |
| FHA mortgage insurance | $326 |
| Total per month | $5,945 |
Change the numbers in the calculator
Questions about home buying in Erie
What is the median home value in Erie?
About $736,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Erie?
Homeowners pay a median $5,395 a year, which is about 0.73% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Erie?
For the median home with 20% down at 7.11%, the payment is about $4,718 a month. Keeping that under 28% of gross income takes about $202,221 a year.
More about Erie
- Mortgage Refinance in Erie
- Debt Relief in Erie
- Home Equity Loans in Erie
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data