Market Overview
Home Prices in Gates Mills, OH
The median home value in Gates Mills, OH is $794,544 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.3% compared to a year ago and up 3.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gates Mills are priced94% above average. Gates Mills is part of the Cleveland-Elyria, OH metro area.
Over the past five years, Gates Mills home values have risen by approximately34.1%, reflecting strong long-term appreciation in this market.
Price History
Gates Mills Home Price Trend
City Comparison
Gates Mills vs. National Median
At $794,544, homes in Gates Mills cost 94% above the national median of $410,000. Buyers in Gates Mills should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Gates Mills?
20% Down Payment
$158,909
on $794,544
Monthly P&I
$4,144/mo
30-yr @ 6.8%
Total Monthly Est.
~$5,263/mo
incl. taxes & insurance
Income Needed
$210,520
gross annual (30% rule)
10% Down Option
$79,454
+ PMI applies
Loan Amount (20% dn)
$635,635
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 Gates Mills, OH?
The median home value in Gates Mills is $794,544 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.3% year-over-year.
How much have home prices changed in Gates Mills?
Over the past year, home values in Gates Mills have increased by 6.3%. Over five years, prices have risen approximately 34.1%.
How much do I need to earn to buy a home in Gates Mills?
To comfortably afford the median home price of $794,544 with a 20% down payment ($158,909) at today's rates (6.8%), you'd need a gross annual income of approximately $210,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Gates Mills compare to the national average home price?
The national median home value is approximately $410,000. At $794,544, homes in Gates Mills are 94% above the national average.
What metro area is Gates Mills part of?
Gates Mills is part of the Cleveland-Elyria, OH metropolitan area. Home prices and market conditions can vary across the broader metro region.