Home›Tennessee›Gray
📍 Gray, TN · Zillow ZHVI · July 2026

Average Home Price in
Gray, TN

Johnson City, TN metro area · Washington County County

Median Home Value
$311,918
↑ 0.6% year-over-year
vs. National Median
$410,000
Gray is 24% below
Est. Monthly Payment
$1,627/mo
20% down · 6.8% rate
Income Needed
$83K
gross annual (30% rule)
Median Home Value
$311,918
↑ 0.6% year-over-year
Down Payment (20%)$62,384
Monthly P&I$1,627/mo
With Taxes & Ins.~$2,066/mo
Income Needed$82,640/yr
Data SourceZillow ZHVI
Market Overview

Home Prices in Gray, TN

The median home value in Gray, TN is $311,918 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.6% compared to a year ago and up 1.6% from two years prior.

Compared to the U.S. national median of $410,000, homes in Gray are priced24% below average. Gray is part of the Johnson City, TN metro area.

City Comparison

Gray vs. National Median

🏠 Gray
$311,918
National Median
$410,000

At $311,918, homes in Gray cost 24% below the national median of $410,000. This makes Gray a relatively affordable market for buyers seeking value.

Affordability

What Does It Cost to Buy in Gray?

20% Down Payment
$62,384
on $311,918
Monthly P&I
$1,627/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,066/mo
incl. taxes & insurance
Income Needed
$82,640
gross annual (30% rule)
10% Down Option
$31,192
+ PMI applies
Loan Amount (20% dn)
$249,534
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 Gray, TN?
The median home value in Gray is $311,918 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.6% year-over-year.
How much have home prices changed in Gray?
Over the past year, home values in Gray have increased by 0.6%.
How much do I need to earn to buy a home in Gray?
To comfortably afford the median home price of $311,918 with a 20% down payment ($62,384) at today's rates (6.8%), you'd need a gross annual income of approximately $82,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Gray compare to the national average home price?
The national median home value is approximately $410,000. At $311,918, homes in Gray are 24% below the national average.
What metro area is Gray part of?
Gray is part of the Johnson City, TN metropolitan area. Home prices and market conditions can vary across the broader metro region.