Market Overview
Home Prices in Lorraine, NY
The median home value in Lorraine, NY is $170,553 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.7% compared to a year ago and up 3.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lorraine are priced58% below average. Lorraine is part of the Watertown-Fort Drum, NY metro area.
Price History
Lorraine Home Price Trend
2024
$156,123
$156K
—
2025
$161,409
$161K
+3.4%
2026
$170,553
$171K
+5.7%
City Comparison
Lorraine vs. National Median
🏠 Lorraine
$170,553
National Median
$410,000
At $170,553, homes in Lorraine cost 58% below the national median of $410,000. This makes Lorraine a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lorraine?
20% Down Payment
$34,111
on $170,553
Monthly P&I
$889/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,129/mo
incl. taxes & insurance
Income Needed
$45,160
gross annual (30% rule)
10% Down Option
$17,055
+ PMI applies
Loan Amount (20% dn)
$136,442
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 Lorraine, NY?
The median home value in Lorraine is $170,553 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.7% year-over-year.
How much have home prices changed in Lorraine?
Over the past year, home values in Lorraine have increased by 5.7%.
How much do I need to earn to buy a home in Lorraine?
To comfortably afford the median home price of $170,553 with a 20% down payment ($34,111) at today's rates (6.8%), you'd need a gross annual income of approximately $45,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Lorraine compare to the national average home price?
The national median home value is approximately $410,000. At $170,553, homes in Lorraine are 58% below the national average.
What metro area is Lorraine part of?
Lorraine is part of the Watertown-Fort Drum, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.