The typical owner-occupied home in Gainesville is worth about $247,500, 31% below the Florida median of $359,000 and 26% below the national median of $332,700. Owners pay a median $2,364 a year in property taxes, about 0.96% of their home's value, higher than the Florida rate of 0.76%. The median household earns $46,195 a year, so the median home costs 5.4 times the median income (4.8 times for Florida). 38% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Gainesville at a glance
| Gainesville | Florida | U.S. | |
|---|---|---|---|
| Median home value | $247,500 | $359,000 | $332,700 |
| Median property tax paid per year | $2,364 | $2,730 | $3,119 |
| Property tax as a share of value | 0.96% | 0.76% | 0.94% |
| Median household income | $46,195 | $74,568 | $80,734 |
| Homes lived in by their owners | 38% | 68% | 65% |
| Owner homes with a mortgage | 57% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,599 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 23.6% | 21.0% |
| Median rent | $1,296 | $1,669 | $1,413 |
| Rent as a share of renters' income | 42.9% | 35.2% | 30.6% |
| Median year homes were built | 1983 | 1988 | 1980 |
| Vacant homes | 9.5% | 14.7% | 10.1% |
| Population | 145,702 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Gainesville
At this week's average 30-year rate of 7.11%, buying the median Gainesville home of $247,500 with 20% down costs about $1,633 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,045, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $69,990 for the 20%-down payment. That payment is 42% of the median Gainesville household income of $46,195; at that income and 20% down, the 28% guideline points to a home of about $163,000.
The median rent here is $1,296 a month, so owning the median home costs about $337 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,500 |
|---|---|
| Loan amount | $198,000 |
| Principal and interest | $1,332 |
| Property taxes (0.96% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| PMI | $0 |
| Total per month | $1,633 |
Change the numbers in the calculator
| Down payment | $8,662 |
|---|---|
| Loan amount | $243,017 |
| Principal and interest | $1,635 |
| Property taxes (0.96% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| FHA mortgage insurance | $109 |
| Total per month | $2,045 |
Change the numbers in the calculator
Questions about home buying in Gainesville
What is the median home value in Gainesville?
About $247,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gainesville?
Homeowners pay a median $2,364 a year, which is about 0.96% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Gainesville?
For the median home with 20% down at 7.11%, the payment is about $1,633 a month. Keeping that under 28% of gross income takes about $69,990 a year.
More about Gainesville
- Mortgage Refinance in Gainesville
- Debt Relief in Gainesville
- Home Equity Loans in Gainesville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data