The story of this market
The typical home in ZIP 44040 sells for about $242,000, or $158 per square foot.
Prices are up +3.7% from a year ago, so sellers still have some momentum. Homes take about 41 days to sell. HUD's fair market rent for a two-bedroom is $1,350 a month.
This ZIP has no home sales of its own, so its market figures come from Cuyahoga County, Ohio (county-level). Population, rents, hazards, lending and amenities are this ZIP's own readings.
ZIP 44040 — Gates Mills
The 44040 housing market remains highly stable and desirable, characterized by low inventory and high demand for luxury estate properties. Prices continue to appreciate steadily, driven by the area's reputation for safety, excellent schools, and privacy. While sales volume is low due to limited turnover, the market maintains strong value retention.
This ZIP is ideal for affluent families and professionals seeking large, private estate lots, high-quality schools, and a quiet, semi-rural environment within reach of Cleveland's amenities.
Median prices moved up 3.7% year over year.
Homes spend a median of 41 days on market with 3.2 months of supply — a fast-moving market.
33% of listings have cut prices · homes sell at 98.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 9.1% · poverty 6.3% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 44040, Cuyahoga County OH
Gates Mills is widely considered one of the safest communities in the Cleveland metropolitan area, with reported crime rates significantly lower than regional and national averages.
The area is served by the highly-rated Mayfield City School District, which is consistently recognized for strong academic performance and college readiness.
The area faces standard regional risks including seasonal severe thunderstorms and winter weather; flood risk is generally low, though localized drainage issues can occur in low-lying areas.
The area maintains a stable, low-density residential character with limited new commercial development, focusing on preserving its historic and rural-estate aesthetic.
Property taxes are levied by the local municipality, county, and the Mayfield City School District; the area is known for higher effective rates typical of high-service suburban Ohio jurisdictions.
Residents primarily commute by private vehicle to the Cleveland employment core, with typical drive times ranging from 25 to 35 minutes via I-271.
The area features extensive green space, including the Chagrin River valley, local park systems, and proximity to the North Chagrin Reservation for hiking and nature activities.
The rental market is extremely limited due to the prevalence of single-family estate homes, with very low vacancy pressure and minimal short-term rental activity.
The local economy is primarily residential, with residents largely employed in professional services, healthcare, and corporate management in the broader Cleveland metro area.
Public transit access is minimal; the area is heavily dependent on private vehicle transportation via major highway corridors like I-271.
Development is strictly managed by village zoning ordinances to maintain the low-density, estate-style character of the community.
Cuyahoga County utilizes a triennial update and sexennial reappraisal cycle for property assessments.
Parcels are subject to Mayfield City School District taxes and various county-level levies for infrastructure and services.
Property insurance premiums are generally stable, though coverage for high-value estate homes requires specialized policies due to replacement costs.
Data retrieved from Census Reporter and data.census.gov ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Fun 'n' Stuff4.416.5 mi
- Round1 Bowling & Arcade - Mentor49.4 mi
- Pioneer Waterland & Dry Fun Park416.8 mi
- Sky Zone Highland Heights3.92.1 mi
- Adrenaline Monkey Adventure Park Cleveland4.57.2 mi
- Rocket Arena4.614.2 mi
- Progressive Field4.714.1 mi
- Huntington Bank Field4.514.7 mi
- Topgolf Cleveland4.314.7 mi
- Huntington Convention Center of Cleveland4.614.5 mi
- The Cleveland Museum of Art4.910.2 mi
- Cleveland Museum of Natural History4.510.2 mi
- Severance Music Center4.910.1 mi
- The Holden Arboretum4.88.2 mi
- Pinecrest4.56.3 mi
- Rock & Roll Hall of Fame4.614.5 mi
- The Cleveland Museum of Art4.910.2 mi
- Cleveland Museum of Natural History4.510.2 mi
- The Holden Arboretum4.88.2 mi
- House from A Christmas Story4.714.6 mi
- The Holden Arboretum4.88.2 mi
- Cleveland Botanical Garden4.710 mi
- Squire's Castle4.73.5 mi
- Punderson State Park4.511.3 mi
- Lake Metroparks Farmpark4.85.6 mi
- Whiskey Island Still & Eatery4.415.6 mi
- Shoreby Club4.79.9 mi
- Edgewater Yacht Club4.716.6 mi
- Mentor Lagoons Nature Preserve & Marina4.714.2 mi
- East 55th Street Marina4.512.1 mi
- Shawnee Hills Golf Course4.312.2 mi
- Manakiki Golf Course4.54.9 mi
- StoneWater Golf Club & Venue4.53.6 mi
- Punderson Manor Lodge & Conference Center4.412.1 mi
- Fowler's Mill Golf Course4.27.6 mi
- Beachwood Place4.44.5 mi
- Great Lakes Mall4.29.3 mi
- Pinecrest4.56.3 mi
- Fairfax Market4.510.5 mi
- Patterson Fruit Farm4.73.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides scenic views and recreational opportunities throughout the valley.
Features historic architecture and local community landmarks.
Part of the Cleveland Metroparks system, offering extensive trails and nature centers.
Key-figure check: median price diverges 33.8% from the nearest retained anchor (published ten-year series (2024)) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $795,000 could not be independently corroborated and was removed pending review (no prior-cycle value to revert to); the case is under review in the Command Center.