Total monthly cost of ownership
Cost to Own a Home in Erie, Colorado
A $686,000 home here costs
$4,939per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,527. The real number is $1,412 higher every month — 40% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Erie against Weld County and Colorado
| Measure | Erie | Weld County |
|---|---|---|
| Median home value | $685,900 | $444,500 |
| Median property tax | $5,139 | $2,242 |
| Effective tax rate | 0.749% | 0.504% |
| Median gross rent | $2,775 | $1,469 |
| Population | 31,927 | 340,711 |
Erie extends across 2 counties. Figures here use Weld County, where most of its housing sits.
The weather behind that power bill
Erie sits in Weld County, which averages a high of 90.0°F in its hottest month and a low of 9.4°F in its coldest, with 13.43" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 600 cooling and 6,855 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Weld County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Weld County
Common questions
How much does it cost to own a home in Erie?
A $686,000 home in Erie, Colorado costs approximately $4,939 per month with 20% down at 6.66%. That is $3,527 principal and interest, $428 property tax, $199 homeowners insurance, $213 utilities and $572 set aside for maintenance.
What is the property tax rate in Erie?
Erie has an effective property tax rate of 0.749%, based on a median home value of $685,900 and median real estate taxes of $5,139. That is higher than the Weld County average of 0.504%.
What is the average home price in Erie?
The median owner-occupied home value in Erie, Colorado is $685,900, against $444,500 across Weld County.
Is it cheaper to rent or buy in Erie?
Median gross rent in Erie is $2,775 a month, against $4,939 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Erie — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Colorado.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.