The typical owner-occupied home in Gainesville is worth about $119,500, 48% below the Missouri median of $230,300 and 64% below the national median of $332,700. Owners pay a median $634 a year in property taxes, about 0.53% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $32,391 a year, so the median home costs 3.7 times the median income (3.3 times for Missouri). 50% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Gainesville at a glance
| Gainesville | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $119,500 | $230,300 | $332,700 |
| Median property tax paid per year | $634 | $1,948 | $3,119 |
| Property tax as a share of value | 0.53% | 0.85% | 0.94% |
| Median household income | $32,391 | $70,702 | $80,734 |
| Homes lived in by their owners | 50% | 68% | 65% |
| Owner homes with a mortgage | 52% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,142 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 19.0% | 21.0% |
| Median rent | $457 | $1,033 | $1,413 |
| Rent as a share of renters' income | 27.8% | 28.1% | 30.6% |
| Median year homes were built | 1968 | 1978 | 1980 |
| Vacant homes | 15.5% | 11.2% | 10.1% |
| Population | 1,010 | 6,191,814 | 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 $119,500 with 20% down costs about $746 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $945, 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 $31,958 for the 20%-down payment. That payment is 28% of the median Gainesville household income of $32,391; at that income and 20% down, the 28% guideline points to a home of about $121,000.
The median rent here is $457 a month, so owning the median home costs about $289 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,900 |
|---|---|
| Loan amount | $95,600 |
| Principal and interest | $643 |
| Property taxes (0.53% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $746 |
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| Down payment | $4,182 |
|---|---|
| Loan amount | $117,336 |
| Principal and interest | $789 |
| Property taxes (0.53% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $945 |
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Questions about home buying in Gainesville
What is the median home value in Gainesville?
About $119,500 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 $634 a year, which is about 0.53% 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 $746 a month. Keeping that under 28% of gross income takes about $31,958 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