Market Overview
Home Prices in Gowanda, NY
The median home value in Gowanda, NY is $168,131 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.1% compared to a year ago and up 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gowanda are priced59% below average. Gowanda is part of the Olean, NY metro area.
Over the past five years, Gowanda home values have risen by approximately40.4%, reflecting strong long-term appreciation in this market.
Price History
Gowanda Home Price Trend
City Comparison
Gowanda vs. National Median
At $168,131, homes in Gowanda cost 59% below the national median of $410,000. This makes Gowanda a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gowanda?
20% Down Payment
$33,626
on $168,131
Monthly P&I
$877/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,114/mo
incl. taxes & insurance
Income Needed
$44,560
gross annual (30% rule)
10% Down Option
$16,813
+ PMI applies
Loan Amount (20% dn)
$134,505
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 Gowanda, NY?
The median home value in Gowanda is $168,131 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.1% year-over-year.
How much have home prices changed in Gowanda?
Over the past year, home values in Gowanda have increased by 7.1%. Over five years, prices have risen approximately 40.4%.
How much do I need to earn to buy a home in Gowanda?
To comfortably afford the median home price of $168,131 with a 20% down payment ($33,626) at today's rates (6.8%), you'd need a gross annual income of approximately $44,560. This assumes keeping total housing costs at or below 30% of gross income.
How does Gowanda compare to the national average home price?
The national median home value is approximately $410,000. At $168,131, homes in Gowanda are 59% below the national average.
What metro area is Gowanda part of?
Gowanda is part of the Olean, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.