Market Overview
Home Prices in Drake, CO
The median home value in Drake, CO is $514,558 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.7% compared to a year ago and down 0.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Drake are priced26% above average. Drake is part of the Fort Collins, CO metro area.
Over the past five years, Drake home values have risen by approximately11.3%, reflecting steady appreciation in this market.
Price History
Drake Home Price Trend
2020
$390,951
$391K
—
2021
$462,289
$462K
+18.2%
2022
$537,440
$537K
+16.3%
2023
$508,175
$508K
-5.4%
2024
$532,262
$532K
+4.7%
2025
$528,745
$529K
-0.7%
2026
$514,558
$515K
-2.7%
City Comparison
Drake vs. National Median
🏠 Drake
$514,558
National Median
$410,000
At $514,558, homes in Drake cost 26% above the national median of $410,000. Buyers in Drake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Drake?
20% Down Payment
$102,912
on $514,558
Monthly P&I
$2,684/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,409/mo
incl. taxes & insurance
Income Needed
$136,360
gross annual (30% rule)
10% Down Option
$51,456
+ PMI applies
Loan Amount (20% dn)
$411,646
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Drake, CO?
The median home value in Drake is $514,558 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.7% year-over-year.
How much have home prices changed in Drake?
Over the past year, home values in Drake have decreased by 2.7%. Over five years, prices have risen approximately 11.3%.
How much do I need to earn to buy a home in Drake?
To comfortably afford the median home price of $514,558 with a 20% down payment ($102,912) at today's rates (6.8%), you'd need a gross annual income of approximately $136,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Drake compare to the national average home price?
The national median home value is approximately $410,000. At $514,558, homes in Drake are 26% above the national average.
What metro area is Drake part of?
Drake is part of the Fort Collins, CO metropolitan area. Home prices and market conditions can vary across the broader metro region.