Market Overview
Home Prices in Gloucester, NC
The median home value in Gloucester, NC is $371,792 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.4% compared to a year ago and down 3.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gloucester are priced9% below average. Gloucester is part of the Morehead City, NC metro area.
Over the past five years, Gloucester home values have risen by approximately29.6%, reflecting strong long-term appreciation in this market.
Price History
Gloucester Home Price Trend
City Comparison
Gloucester vs. National Median
At $371,792, homes in Gloucester cost 9% below the national median of $410,000. This makes Gloucester a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gloucester?
20% Down Payment
$74,358
on $371,792
Monthly P&I
$1,939/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,463/mo
incl. taxes & insurance
Income Needed
$98,520
gross annual (30% rule)
10% Down Option
$37,179
+ PMI applies
Loan Amount (20% dn)
$297,434
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 Gloucester, NC?
The median home value in Gloucester is $371,792 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.4% year-over-year.
How much have home prices changed in Gloucester?
Over the past year, home values in Gloucester have increased by 5.4%. Over five years, prices have risen approximately 29.6%.
How much do I need to earn to buy a home in Gloucester?
To comfortably afford the median home price of $371,792 with a 20% down payment ($74,358) at today's rates (6.8%), you'd need a gross annual income of approximately $98,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Gloucester compare to the national average home price?
The national median home value is approximately $410,000. At $371,792, homes in Gloucester are 9% below the national average.
What metro area is Gloucester part of?
Gloucester is part of the Morehead City, NC metropolitan area. Home prices and market conditions can vary across the broader metro region.