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Gray, TN Home Values and Rents
The typical home value in Gray is $304,301, 172nd highest of 304 cities and towns in Tennessee. Median rent is $1,028 a month.
- Typical home value
- $304,301
- 172nd of 304 in TN
- Median rent
- $1,028/mo
- ACS 2020-2024
- Price change, 1 year
- +1.1%
- Sep 2026
- Homeownership
- 71.5%
- TN: 66.9%
Home sale prices in the Johnson City, TN area
Zillow median sale price, Sep 2026
$309,893+3.6% from a year earlier
Half of homes in the metro area sold for more and half for less. Zillow publishes sale prices for metro areas, not for single counties or cities.
Typical home value in Gray
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Gray |
|---|---|
| Sep 2026 | $304,301 |
| Dec 2025 | $299,878 |
| Dec 2024 | $298,949 |
| Dec 2023 | $295,772 |
Source: Zillow Research · Last updated 09/01/2026
Fair Market Rents, FY2027
HUD rent standard for Johnson City, TN MSA
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $942 | +6.2% |
| 1 bedroom | $948 | +6.2% |
| 2 bedrooms | $1,211 | +7.0% |
| 3 bedrooms | $1,461 | +4.5% |
| 4 bedrooms | $1,609 | +3.9% |
Frequently asked questions
- What is the typical home value in Gray, TN?
- The typical home value in Gray is $304,301 (Zillow Home Value Index, Sep 2026). The Tennessee median is $286,700.
- How much is rent in Gray?
- The median rent in Gray is $1,028 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,211.
- Are home prices going up in Gray?
- The typical home value in Gray changed +1.1% over one year and - over five years, as of Sep 2026.
- How does Gray compare with the rest of Tennessee?
- Gray has the 172nd highest median home value of 304 cities and towns with 1,000+ residents in Tennessee.