Market Overview
Home Prices in Gray, LA
The median home value in Gray, LA is $237,931 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0% compared to a year ago and down 3.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gray are priced42% below average. Gray is part of the Houma-Thibodaux, LA metro area.
Over the past five years, Gray home values have fallen by approximately1.7%, reflecting softening conditions in this market.
Price History
Gray Home Price Trend
2020
$243,396
$243K
—
2021
$242,100
$242K
-0.5%
2022
$241,483
$241K
-0.3%
2023
$236,303
$236K
-2.1%
2024
$246,086
$246K
+4.1%
2025
$237,940
$238K
-3.3%
2026
$237,931
$238K
+-0.0%
City Comparison
Gray vs. National Median
🏠 Gray
$237,931
National Median
$410,000
At $237,931, homes in Gray cost 42% below the national median of $410,000. This makes Gray a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gray?
20% Down Payment
$47,586
on $237,931
Monthly P&I
$1,241/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,576/mo
incl. taxes & insurance
Income Needed
$63,040
gross annual (30% rule)
10% Down Option
$23,793
+ PMI applies
Loan Amount (20% dn)
$190,345
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 Gray, LA?
The median home value in Gray is $237,931 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0% year-over-year.
How much have home prices changed in Gray?
Over the past year, home values in Gray have increased by 0%. Over five years, prices have fallen approximately 1.7%.
How much do I need to earn to buy a home in Gray?
To comfortably afford the median home price of $237,931 with a 20% down payment ($47,586) at today's rates (6.8%), you'd need a gross annual income of approximately $63,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Gray compare to the national average home price?
The national median home value is approximately $410,000. At $237,931, homes in Gray are 42% below the national average.
What metro area is Gray part of?
Gray is part of the Houma-Thibodaux, LA metropolitan area. Home prices and market conditions can vary across the broader metro region.