Gate City Historic District · Photo: Betcantrell · CC BY-SA 3.0Measured against area pay, Gate City costs less to live in than 68% of U.S. towns
Up 3.3% in a year, 58% below the Virginia typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Kingsport-Bristol, TN-VA metro area ($58K). How TownRatings grades cost of living
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the Kingsport metro earn ($58K, Census 2020–24). The typical home costs 2.8 years of metro income, and 69% of renters pay 30% or more of income for housing.
In dollars
- $174Ktypical home, 58% below the Virginia typical homeZillow, September 2026
- $940a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 86prices across the Kingsport metro, where the U.S. is 100 (housing 56)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.8 yrsof area income buys the typical home; the typical U.S. town: 3.3$58K, Kingsport-area income
- 14%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 69%of renters pay 30%+ of income for housing; across Virginia: 49%Census 2020–24
- 22%of owners do; the typical U.S. town: 20%Census 2020–24
What stands out about housing in Gate City
What’s behind Gate City’s grade
Measured against what households in the area earn, Gate City is more affordable than 68% of U.S. towns. The share of households paying 30%+ for housing pulls the grade down most; rent holds it up.
Values have outpaced Virginia: the typical Gate City home is up 46.1% in five years, against 23.5% statewide (Zillow).
Up 46.1% in five years
Faster than Virginia (23.5%).
Show as a table
| January | Gate City | Virginia |
|---|---|---|
| 2017 | $88,000 | $251,000 |
| 2018 | $90,000 | $261,000 |
| 2019 | $93,000 | $269,000 |
| 2020 | $98,000 | $282,000 |
| 2021 | $112,000 | $309,000 |
| 2022 | $126,000 | $342,000 |
| 2023 | $140,000 | $364,000 |
| 2024 | $157,000 | $384,000 |
| 2025 | $165,000 | $402,000 |
| 2026 | $174,000 | $408,000 |
| September 2026 | $174,000 | $412,000 |
A typical Gate City home worth $85K in October 2016 is worth about $174K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A year’s rent takes 14% of area income
The calculator starts from the area income the grade uses. Switch to Gate City’s own median, or type yours.
That covers a typical Gate City home, with $57K to spare.
A two-bedroom rents for about $940 a month here, $80 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Gate City’s typical property tax (0.74% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $940
Renters already here pay a median of $660, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Kingsport-Bristol, TN-VA MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Low tax bills, but a high tax rate
The median bill is $1,212, under the Virginia median of $2,790, because homes cost less. As a share of value it’s 0.74% a year, against 0.73% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Gate City
Only figures published free for the whole country, each labeled with the area it covers: the Kingsport-Bristol, TN-VA metro area, or Virginia. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 86 | VA 101 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 96 | VA 100 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 76 | VA 92 | metro | BEA, 2024 |
| Other services U.S. = 100 | 96 | VA 100 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Gate City vs. its neighbors
Of the 2 towns here with a Zillow value, Gate City has the lowest.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Gate City | B+ | $174K | $163K | 0.74% | $940 |
| Weber City | A | $180K | $156K | 0.59% | $1,010 |
Questions about the cost of living in Gate City
Is Gate City expensive to live in?
Measured against what households in the area earn, Gate City costs less than 68% of U.S. towns: a B+ for cost of living. The typical home costs 2.8 years of the median household income of the Kingsport-Bristol, TN-VA metro area ($58K).
How much does a house cost in Gate City?
About $174K, Zillow’s typical value for September 2026, up 3.3% in a year. The Virginia typical home is $412K.
What salary do you need to live in Gate City?
To buy the typical home with 20% down at 6.3%, about $44,000 a year, keeping the payment (about $1,020 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $38,000.
How much is rent in Gate City?
HUD puts a two-bedroom at about $940 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $660 (Census 2020–24).
What are property taxes in Gate City?
The median bill is $1,212 a year, 0.74% of the median home value (Virginia: $2,790, 0.73%), from the Census 2020–24.
Are home prices in Gate City going up?
Yes: up 3.3% in the past year and 46.1% in five years, against 23.5% across Virginia (Zillow).
Neighbors talk housing
What Gate City buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.