Market Overview
Home Prices in Gates, NC
The median home value in Gates, NC is $275,180 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 11.4% compared to a year ago and up 14.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gates are priced33% below average. Gates is part of the Virginia Beach-Norfolk-Newport News, VA-NC metro area.
Over the past five years, Gates home values have risen by approximately46.0%, reflecting strong long-term appreciation in this market.
Price History
Gates Home Price Trend
City Comparison
Gates vs. National Median
At $275,180, homes in Gates cost 33% below the national median of $410,000. This makes Gates a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gates?
20% Down Payment
$55,036
on $275,180
Monthly P&I
$1,435/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,822/mo
incl. taxes & insurance
Income Needed
$72,880
gross annual (30% rule)
10% Down Option
$27,518
+ PMI applies
Loan Amount (20% dn)
$220,144
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 Gates, NC?
The median home value in Gates is $275,180 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 11.4% year-over-year.
How much have home prices changed in Gates?
Over the past year, home values in Gates have increased by 11.4%. Over five years, prices have risen approximately 46.0%.
How much do I need to earn to buy a home in Gates?
To comfortably afford the median home price of $275,180 with a 20% down payment ($55,036) at today's rates (6.8%), you'd need a gross annual income of approximately $72,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Gates compare to the national average home price?
The national median home value is approximately $410,000. At $275,180, homes in Gates are 33% below the national average.
What metro area is Gates part of?
Gates is part of the Virginia Beach-Norfolk-Newport News, VA-NC metropolitan area. Home prices and market conditions can vary across the broader metro region.