ZIP Code · CO

ZIP 80516

Part of Erie, CO

Pop. 39,048·Weld County·17th most expensive ZIP in Colorado

Median rent (all units)

$2,772/mo

Year-over-Year

+6.3%

Month-over-Month

+1.5%

vs US Median

+$840

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 80516 · $2,772

More expensive than 86% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,940

1 BR

$2,130

2 BR

$2,610

3 BR

$3,560

4 BR+

$4,170

Research median

$2,610/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 80516 usually run 2% below trend in December and 1.1% above it in May, about $86 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 80516 is at its highest level since Zillow's records here began in January 2021.

Past year vs. the rest of Colorado

Rent in ZIP 80516 changed +6.2% over the year to September 2026. Across the 155 Colorado ZIP codes Zillow tracks, the typical change was +1.3%.

Recent direction

Rent has risen 8 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($168,725) is $4,218 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($4,170).

Cheaper nearby

ZIP 80026, 5 miles away, rents for 21% less ($2,200/mo), about $6,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 80516. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$33,264/yr

At $2,772/mo median

Location

CityErie

StateCO

CountyWeld County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.3% YoY, +1.5% MoM), not inventory.

Demographics

Who lives here

ZIP 80516 (Erie, CO) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 66.7% of residents hold a bachelor's degree or higher.

Population

39,048

Median income

$168,725

Median age

37.7

Renters

12%

Age distribution

28.2%

16.3%

34.7%

Under 1828.2%

18–3416.3%

35–5434.7%

55–6410.2%

65+10.5%

Gender

50%

Male50%

Female50%

Race & ethnicity

79.8%

White79.8%

Hispanic10.9%

Asian6.1%

Other2.9%

Education (25+)

19.5%

66.7%

No HS diploma2.8%

HS diploma10.9%

Some college19.5%

Bachelor's+66.7%

Housing tenure

88%

Owner88%

Renter12%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 80516 in Erie, CO has changed in 5 years

Rent

$2,166 → $2,772

up 28.0%

Income

$134,073 → $168,725

up 25.8%

Population

33,291 → 39,048

up 17.3%

Renter share

13.4% → 12%

-1.4 pts

Bachelor's+

61.4% → 66.7%

+5.3 pts

Rent in ZIP 80516 in Erie, CO has climbed 28.0% since 2021, going from about $2,166 per month to roughly $2,772 today. Local incomes tracked alongside that move, going from a median of $134,073 in 2021 to $168,725 more recently. Headcount in the area went from 33,291 to 39,048 between 2021 and 2024, a 17.3% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 61.4% to 66.7%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 80516 in Erie, CO market of 2021.

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Local insights

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About renting in ZIP 80516

Last updated: October 17, 2026

ZIP code 80516 covers Erie, CO. The median rent here is $2,772/mo as of October 2026. A 1-bedroom rents for a median of $2,130/mo. A 2-bedroom rents for a median of $2,610/mo.

At 20% of local median household income ($168,725/yr), ZIP 80516 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 80516?

To keep rent at or below 30% of gross income, you would need to earn at least $111,000/year (about $53/hour full-time) to afford the median rent of $2,772/mo in ZIP 80516. The local median household income is $168,725/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 80516?

Rent in ZIP 80516 has risen 6.3% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2021.

When is the cheapest time to rent in ZIP 80516?

Asking rents in ZIP 80516 are usually lowest in December, about 2% below their yearly trend, and highest in May, about 1.1% above it. At today's median that is a gap of roughly $86 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 80516 compare to other ZIPs in Colorado?

ZIP 80516 is one of the pricier among Colorado ZIP codes for rent, ranking #17 of 168 at $2,772/mo. Over the year to September 2026, rent in ZIP 80516 changed +6.2%, against a typical +1.3% across the 155 Colorado ZIP codes Zillow tracks.