Home prices
The median home value in Gates is $65,000. It is about $8,840 (11%) lower compared to its nearby areas.In comparison to the rest of the nation it is roughly $152,500 (70%) lower, and is about $36,800 (36%) lower in comparison to the city of Memphis.
Rents
The median rent in Gates is $696 per month. In comparison to nearby areas it is approximately $63 (9%) higher.In comparison to the nation as a whole it is about $366 (34%) lower, and compared to the city of Memphis it is roughly $205 (22%) lower.
Nearby places
Halls
Halls is Gates's neighbor to the north. Real estate prices there are somewhat less expensive. The median home price in Halls is $59,600, which is $5,400 (9%) lower than Gates. Rent there is pretty similar. The median rent in Halls is $680 per month, which is $16 (2%) lower than Gates.
Maury City
Maury City is about 9 miles east from Gates. Its real estate prices are a little more expensive. The median home in Maury City costs $79,700, which comes out to $14,700 (18%) higher than Gates. Its rents are a little more expensive. Maury City's median rent is $773 per month, which comes out to $77 (9%) higher than Gates.
Ripley
Ripley is about 9 miles southwest from Gates. Its real estate prices are a bit more expensive. The median home in Ripley is valued at $86,700, which is $21,700 (25%) higher than Gates. Rents there are fairly similar. Ripley's median rent is $696 per month, which is very similar to Gates.
Friendship
Friendship is roughly 9 miles northeast from Gates. The real estate prices there are a bit more expensive. The median home in Friendship is valued at $75,400, which is $10,400 (13%) higher than Gates. Rents there are significantly less expensive. In Friendship the median monthly rent is $474, which is $222 (46%) lower than Gates.
Henning
Henning is about 14 miles southwest from Gates. The housing prices there are fairly similar. The price of the median home in Henning is $67,800, which works out to $2,800 (4%) higher than Gates. Rents there are a little less expensive. In Henning the median monthly rent is $543, which works out to $153 (28%) lower than Gates.
