Market Overview
Home Prices in Lake Grove, NY
The median home value in Lake Grove, NY is $731,045 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.8% compared to a year ago and up 4.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Grove are priced78% above average. Lake Grove is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Lake Grove home values have risen by approximately40.0%, reflecting strong long-term appreciation in this market.
Price History
Lake Grove Home Price Trend
City Comparison
Lake Grove vs. National Median
At $731,045, homes in Lake Grove cost 78% above the national median of $410,000. Buyers in Lake Grove should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Lake Grove?
20% Down Payment
$146,209
on $731,045
Monthly P&I
$3,813/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,843/mo
incl. taxes & insurance
Income Needed
$193,720
gross annual (30% rule)
10% Down Option
$73,105
+ PMI applies
Loan Amount (20% dn)
$584,836
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 Lake Grove, NY?
The median home value in Lake Grove is $731,045 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.8% year-over-year.
How much have home prices changed in Lake Grove?
Over the past year, home values in Lake Grove have increased by 6.8%. Over five years, prices have risen approximately 40.0%.
How much do I need to earn to buy a home in Lake Grove?
To comfortably afford the median home price of $731,045 with a 20% down payment ($146,209) at today's rates (6.8%), you'd need a gross annual income of approximately $193,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Grove compare to the national average home price?
The national median home value is approximately $410,000. At $731,045, homes in Lake Grove are 78% above the national average.
What metro area is Lake Grove part of?
Lake Grove is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.