The typical owner-occupied home in Gainesville is worth about $712,600, 86% above the Virginia median of $383,700 and 2.1 times the national median of $332,700. Owners pay a median $6,520 a year in property taxes, about 0.91% of their home's value, higher than the Virginia rate of 0.73%. The median household earns $174,410 a year, so the median home costs 4.1 times the median income (4.1 times for Virginia). 84% of occupied homes here are lived in by their owners, and 84% of those owners still have a mortgage.
Gainesville at a glance
| Gainesville | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $712,600 | $383,700 | $332,700 |
| Median property tax paid per year | $6,520 | $2,790 | $3,119 |
| Property tax as a share of value | 0.91% | 0.73% | 0.94% |
| Median household income | $174,410 | $93,170 | $80,734 |
| Homes lived in by their owners | 84% | 67% | 65% |
| Owner homes with a mortgage | 84% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $3,153 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 20.9% | 20.1% | 21.0% |
| Median rent | $2,283 | $1,579 | $1,413 |
| Rent as a share of renters' income | 31.7% | 29.4% | 30.6% |
| Median year homes were built | 2007 | 1984 | 1980 |
| Vacant homes | 1.8% | 8.7% | 10.1% |
| Population | 18,196 | 8,705,170 | 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 $712,600 with 20% down costs about $4,672 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,859, 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 $200,240 for the 20%-down payment. That payment is 32% of the median Gainesville household income of $174,410; at that income and 20% down, the 28% guideline points to a home of about $621,000.
The median rent here is $2,283 a month, so owning the median home costs about $2,389 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $142,520 |
|---|---|
| Loan amount | $570,080 |
| Principal and interest | $3,835 |
| Property taxes (0.91% a year) | $540 |
| Homeowners insurance (our estimate, 0.5% a year) | $297 |
| PMI | $0 |
| Total per month | $4,672 |
Change the numbers in the calculator
| Down payment | $24,941 |
|---|---|
| Loan amount | $699,693 |
| Principal and interest | $4,707 |
| Property taxes (0.91% a year) | $540 |
| Homeowners insurance (our estimate, 0.5% a year) | $297 |
| FHA mortgage insurance | $315 |
| Total per month | $5,859 |
Change the numbers in the calculator
Questions about home buying in Gainesville
What is the median home value in Gainesville?
About $712,600 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 $6,520 a year, which is about 0.91% 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 $4,672 a month. Keeping that under 28% of gross income takes about $200,240 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