Market Overview
Home Prices in Three Mile Bay, NY
The median home value in Three Mile Bay, NY is $274,336 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 15.2% compared to a year ago and up 2.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Three Mile Bay are priced33% below average. Three Mile Bay is part of the Watertown-Fort Drum, NY metro area.
Price History
Three Mile Bay Home Price Trend
2024
$231,772
$232K
—
2025
$238,149
$238K
+2.8%
2026
$274,336
$274K
+15.2%
City Comparison
Three Mile Bay vs. National Median
🏠 Three Mile Bay
$274,336
National Median
$410,000
At $274,336, homes in Three Mile Bay cost 33% below the national median of $410,000. This makes Three Mile Bay a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Three Mile Bay?
20% Down Payment
$54,867
on $274,336
Monthly P&I
$1,431/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,817/mo
incl. taxes & insurance
Income Needed
$72,680
gross annual (30% rule)
10% Down Option
$27,434
+ PMI applies
Loan Amount (20% dn)
$219,469
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 Three Mile Bay, NY?
The median home value in Three Mile Bay is $274,336 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 15.2% year-over-year.
How much have home prices changed in Three Mile Bay?
Over the past year, home values in Three Mile Bay have increased by 15.2%.
How much do I need to earn to buy a home in Three Mile Bay?
To comfortably afford the median home price of $274,336 with a 20% down payment ($54,867) at today's rates (6.8%), you'd need a gross annual income of approximately $72,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Three Mile Bay compare to the national average home price?
The national median home value is approximately $410,000. At $274,336, homes in Three Mile Bay are 33% below the national average.
What metro area is Three Mile Bay part of?
Three Mile Bay is part of the Watertown-Fort Drum, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.