Gates, NC 27937 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Gates, NC—27937

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$250,000

12.4% YoY Growth

Household Income

$66,200

17.2% YoY Growth

Days on Market

189

459.0% Longer YoY

Home Price Forecast

2.6%

Median Rent

$2,020

118.4% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$2,020

N/A

Home Price Trends — Gates, NC

As of Nov '25, the median home price in Gates, NC is $250,000, with a year-over-year change of 12.4%. This indicates that home prices in Gates, NC are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$250,000	12.4%
Single Family	$250,000	12.6%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Gates, NC

As of July '25, Rentcast reports the average rent in Gates, NC is $2,020, with a year-over-year rent change of 118.4%. Per bedroom, the median rent as of July '25 in Gates, NC is 3-bedrooms: $2,020. The most common rental property sizes in Gates, NC are 3-bedroom and 4-bedroom, accounting for 79.7% and 14.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,020	$2,020
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$2,020	$2,020
4 Bed Rent	N/A	N/A

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% of Rental Stock

2 Bedrooms

5.7%

3 Bedrooms

79.7%

4 Bedrooms

14.6%

Property Listings — Gates, NC

As of Nov '25, Realtor.com reports that the median days on market for a home in Gates, NC is 189. This is a increase of 459.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$350,000	54.0%
Listing Count	16	345.0%
Listings as % of Homes	0.5%	345.0%
Days on Market	189	459.0%

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Demographics — Gates, NC

As of the latest ACS Survey released in 2023, Gates, NC has a population of 3,120, which has decreased by -31.3% over the past 5 years. Gates, NC is a moderately popular place for families, as children make up 19.0% of the population. The area has a poorly educated workforce, with 10.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	3,120	-31.3%
% Under 18	19.0%	-12.8%
% Seniors	20.0%	1.5%
% WFH	1.8%	125.0%
% w/ College Degree	10.3%	-27.5%

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As of the latest ACS Survey released in 2023, Gates, NC is a predominantly white area, with 51.2% of the population identifying as white. The white population has shrunk by 9.4% in the last 5 years. The second most common race or ethnicity in Gates, NC is black, making up 42.2% of the population. Foreign-born residents account for 0.3% of the population in Gates, NC, and this percentage has decreased by 50.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	51.2%	-9.4%
% Black	42.2%	11.1%
% Hispanic	0.9%	∞%
% Asian	0.0%	-100.0%
% Foreign Born	0.3%	-50.0%

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Mortgage and Risk — Gates, NC

According to HUD data as of 2023, there were 78 mortgage originations in Gates, NC, of which 49.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Gates, NC. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	78
% Conventional Loans	49.0%
% Government Loans	51.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — Gates, NC

Gates, NC lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	N/A
Total Units Section 8	N/A
% Rentals under Section 8	0.6%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$1,230
2 Bedroom	N/A	N/A	$1,400
3 Bedroom	-$140	$2,020	$1,880
4 Bedroom	N/A	N/A	$2,320

Gates, NC—27937

Key Metrics at a Glance

Home Price Trends — Gates, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gates, NC

% of Rental Stock

Property Listings — Gates, NC

Demographics — Gates, NC

Race and Ethnicity

Mortgage and Risk — Gates, NC

Mortgages

Rentals and Section 8 — Gates, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Gates, NC

Home Price to Income Ratio

Gates, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Roduco, NC

Suffolk, VA

Eure, NC

Suffolk, VA

Gatesville, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.9
Median Home Price	$250,000
Median Household Income	$66,200

Gates, NC—27937

Key Metrics at a Glance

Home Price Trends — Gates, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gates, NC

% of Rental Stock

Property Listings — Gates, NC

Demographics — Gates, NC

Race and Ethnicity

Mortgage and Risk — Gates, NC

Mortgages

Rentals and Section 8 — Gates, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Gates, NC

Home Price to Income Ratio

Gates, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Roduco, NC

Suffolk, VA

Eure, NC

Suffolk, VA

Gatesville, NC

Frequently Asked Questions

What is the average home price in Gates, NC 27937?

How have home prices in Gates, NC 27937 changed over the past year?

What is the home price projection for Gates, NC 27937?

What are the demographics of Gates, NC 27937?

How long does it take homes to sell in Gates, NC 27937?

What is the average rent price in Gates, NC 27937?