Market Overview
Home Prices in Gray Summit, MO
The median home value in Gray Summit, MO is $248,866 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7% compared to a year ago and up 4.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gray Summit are priced39% below average. Gray Summit is part of the St. Louis, MO-IL metro area.
Over the past five years, Gray Summit home values have risen by approximately30.7%, reflecting strong long-term appreciation in this market.
Price History
Gray Summit Home Price Trend
City Comparison
Gray Summit vs. National Median
At $248,866, homes in Gray Summit cost 39% below the national median of $410,000. This makes Gray Summit a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gray Summit?
20% Down Payment
$49,773
on $248,866
Monthly P&I
$1,298/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,648/mo
incl. taxes & insurance
Income Needed
$65,920
gross annual (30% rule)
10% Down Option
$24,887
+ PMI applies
Loan Amount (20% dn)
$199,093
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 Summit, MO?
The median home value in Gray Summit is $248,866 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7% year-over-year.
How much have home prices changed in Gray Summit?
Over the past year, home values in Gray Summit have increased by 7%. Over five years, prices have risen approximately 30.7%.
How much do I need to earn to buy a home in Gray Summit?
To comfortably afford the median home price of $248,866 with a 20% down payment ($49,773) at today's rates (6.8%), you'd need a gross annual income of approximately $65,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Gray Summit compare to the national average home price?
The national median home value is approximately $410,000. At $248,866, homes in Gray Summit are 39% below the national average.
What metro area is Gray Summit part of?
Gray Summit is part of the St. Louis, MO-IL metropolitan area. Home prices and market conditions can vary across the broader metro region.