Market Overview
Home Prices in Cherry Creek, NY
The median home value in Cherry Creek, NY is $172,583 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.5% compared to a year ago and up 7.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cherry Creek are priced58% below average. Cherry Creek is part of the Jamestown-Dunkirk-Fredonia, NY metro area.
Price History
Cherry Creek Home Price Trend
2024
$151,907
$152K
—
2025
$163,652
$164K
+7.7%
2026
$172,583
$173K
+5.5%
City Comparison
Cherry Creek vs. National Median
🏠 Cherry Creek
$172,583
National Median
$410,000
At $172,583, homes in Cherry Creek cost 58% below the national median of $410,000. This makes Cherry Creek a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cherry Creek?
20% Down Payment
$34,517
on $172,583
Monthly P&I
$900/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,143/mo
incl. taxes & insurance
Income Needed
$45,720
gross annual (30% rule)
10% Down Option
$17,258
+ PMI applies
Loan Amount (20% dn)
$138,066
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 Cherry Creek, NY?
The median home value in Cherry Creek is $172,583 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.5% year-over-year.
How much have home prices changed in Cherry Creek?
Over the past year, home values in Cherry Creek have increased by 5.5%.
How much do I need to earn to buy a home in Cherry Creek?
To comfortably afford the median home price of $172,583 with a 20% down payment ($34,517) at today's rates (6.8%), you'd need a gross annual income of approximately $45,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Cherry Creek compare to the national average home price?
The national median home value is approximately $410,000. At $172,583, homes in Cherry Creek are 58% below the national average.
What metro area is Cherry Creek part of?
Cherry Creek is part of the Jamestown-Dunkirk-Fredonia, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.