Market Overview
Home Prices in Gate City, VA
The median home value in Gate City, VA is $181,726 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.6% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gate City are priced56% below average. Gate City is part of the Kingsport-Bristol, TN-VA metro area.
Over the past five years, Gate City home values have risen by approximately46.4%, reflecting strong long-term appreciation in this market.
Price History
Gate City Home Price Trend
City Comparison
Gate City vs. National Median
At $181,726, homes in Gate City cost 56% below the national median of $410,000. This makes Gate City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gate City?
20% Down Payment
$36,345
on $181,726
Monthly P&I
$948/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,204/mo
incl. taxes & insurance
Income Needed
$48,160
gross annual (30% rule)
10% Down Option
$18,173
+ PMI applies
Loan Amount (20% dn)
$145,381
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 Gate City, VA?
The median home value in Gate City is $181,726 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.6% year-over-year.
How much have home prices changed in Gate City?
Over the past year, home values in Gate City have increased by 5.6%. Over five years, prices have risen approximately 46.4%.
How much do I need to earn to buy a home in Gate City?
To comfortably afford the median home price of $181,726 with a 20% down payment ($36,345) at today's rates (6.8%), you'd need a gross annual income of approximately $48,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Gate City compare to the national average home price?
The national median home value is approximately $410,000. At $181,726, homes in Gate City are 56% below the national average.
What metro area is Gate City part of?
Gate City is part of the Kingsport-Bristol, TN-VA metropolitan area. Home prices and market conditions can vary across the broader metro region.