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Gates Mills village, OH

ZIP 44040 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

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Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 44040

Median Home Value
$497,600
Median Rent
$2,104
Affordability Snapshot
$137,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,196/mo PITI).

15%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

19.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 44040 in Gates Mills village, OH, a household would need roughly $137,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,196. That sits below the local median household income ($166,579), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
95.1%+45% vs US avg
x
Vacancy Rate
4.9%-53% vs US avg
x
Broadband Access
96.8%+11% vs US avg
x
4+ Bedrooms
15.3%+3% vs US avg
x
Built Pre-1939
2.6%-80% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
17.5%-65% vs US avg
x
Mortgage-Free
54.0%+41% vs US avg
x
$497,600
Home Value
$2,104
Rent
1964
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached98.7%
  • 1-unit attached0.0%
  • 2-9 units0.7%
  • 10+ units0.0%
  • Mobile home & other0.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$497,600
Median rent$2,104
Owner-occupied95.1%
Vacant4.9%
Price-to-income3.0x
Est. income to buy$137,000