Market Overview
Home Prices in Redwood, NY
The median home value in Redwood, NY is $233,377 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.5% compared to a year ago and up 1.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Redwood are priced43% below average. Redwood is part of the Watertown-Fort Drum, NY metro area.
Over the past five years, Redwood home values have risen by approximately31.4%, reflecting strong long-term appreciation in this market.
Price History
Redwood Home Price Trend
City Comparison
Redwood vs. National Median
At $233,377, homes in Redwood cost 43% below the national median of $410,000. This makes Redwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Redwood?
20% Down Payment
$46,675
on $233,377
Monthly P&I
$1,217/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,546/mo
incl. taxes & insurance
Income Needed
$61,840
gross annual (30% rule)
10% Down Option
$23,338
+ PMI applies
Loan Amount (20% dn)
$186,702
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 Redwood, NY?
The median home value in Redwood is $233,377 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.5% year-over-year.
How much have home prices changed in Redwood?
Over the past year, home values in Redwood have increased by 7.5%. Over five years, prices have risen approximately 31.4%.
How much do I need to earn to buy a home in Redwood?
To comfortably afford the median home price of $233,377 with a 20% down payment ($46,675) at today's rates (6.8%), you'd need a gross annual income of approximately $61,840. This assumes keeping total housing costs at or below 30% of gross income.
How does Redwood compare to the national average home price?
The national median home value is approximately $410,000. At $233,377, homes in Redwood are 43% below the national average.
What metro area is Redwood part of?
Redwood is part of the Watertown-Fort Drum, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.