The typical owner-occupied home in Gainesville is worth about $177,000, 38% below the Texas median of $283,800 and 47% below the national median of $332,700. Owners pay a median $2,382 a year in property taxes, about 1.35% of their home's value, lower than the Texas rate of 1.49%. The median household earns $58,809 a year, so the median home costs 3.0 times the median income (3.6 times for Texas). 58% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Gainesville at a glance
| Gainesville | Texas | U.S. | |
|---|---|---|---|
| Median home value | $177,000 | $283,800 | $332,700 |
| Median property tax paid per year | $2,382 | $4,232 | $3,119 |
| Property tax as a share of value | 1.35% | 1.49% | 0.94% |
| Median household income | $58,809 | $78,476 | $80,734 |
| Homes lived in by their owners | 58% | 63% | 65% |
| Owner homes with a mortgage | 50% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,387 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 21.7% | 21.0% |
| Median rent | $1,038 | $1,403 | $1,413 |
| Rent as a share of renters' income | 27.7% | 30.9% | 30.6% |
| Median year homes were built | 1971 | 1992 | 1980 |
| Vacant homes | 6.6% | 9.4% | 10.1% |
| Population | 17,883 | 30,188,424 | 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 $177,000 with 20% down costs about $1,225 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,520, 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 $52,518 for the 20%-down payment. That payment is 25% of the median Gainesville household income of $58,809; at that income and 20% down, the 28% guideline points to a home of about $198,000.
The median rent here is $1,038 a month, so owning the median home costs about $187 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $35,400 |
|---|---|
| Loan amount | $141,600 |
| Principal and interest | $953 |
| Property taxes (1.35% a year) | $199 |
| Homeowners insurance (our estimate, 0.5% a year) | $74 |
| PMI | $0 |
| Total per month | $1,225 |
Change the numbers in the calculator
| Down payment | $6,195 |
|---|---|
| Loan amount | $173,794 |
| Principal and interest | $1,169 |
| Property taxes (1.35% a year) | $199 |
| Homeowners insurance (our estimate, 0.5% a year) | $74 |
| FHA mortgage insurance | $78 |
| Total per month | $1,520 |
Change the numbers in the calculator
Questions about home buying in Gainesville
What is the median home value in Gainesville?
About $177,000 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 $2,382 a year, which is about 1.35% 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 $1,225 a month. Keeping that under 28% of gross income takes about $52,518 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